Big land deal signals rising real estate momentum in MMR.

RSVM Hospitality Buys 18.6 Acres in Thane for ₹498 Crore.

RSVM Hospitality has acquired over 18.6 acres of land in Majiwada, Thane, for more than ₹498 crore from Neterwala Group entities, marking a major transaction in the Mumbai Metropolitan Region (MMR). The deal was completed through two registered agreements on February 20, and in the first, Chemicals and Ferro Alloys Pvt Ltd sold 8.1 acres for ₹239.9 crore, while Uni Abex Alloy Products Ltd sold 10.1 acres for ₹257.8 crore. Both companies are part of the Neterwala Group. This acquisition reflects growing developer interest in Thane, driven by improved connectivity, infrastructure upgrades, and strong housing demand. Areas such as Majiwada are gaining traction due to their proximity to key roads and established residential hubs. Experts believe such large land purchases often precede residential or mixed-use developments, as developers aim to build land banks and capitalise on the region’s expanding real estate opportunities.