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RSVM Hospitality purchases over 18 acres of land in Thane near Mumbai for ₹497 crore
The Thane land was purchased by RSVM Hospitality from two companies of the Neterwala Group, according to Propstack
RSVM Hospitality Private Limited has purchased more than 18 acres of land in Thane for over ₹497 crore from two companies belonging to the Neterwala Group, according to property registration data accessed by Propstack.
According to the documents, the land parcels are located in the Majiwada area of Thane and were acquired through two separate transactions registered on February 20, 2026.
In the first deal, RSVM Hospitality purchased 32,984 square metres of land from Chemicals and Ferro Alloys Private Limited for ₹239.9 crore.
In the second transaction, RSVM Hospitality acquired 40,936 square metres of land from Uni Abex Alloy Products Limited for ₹257.8 crore.
According to Propstack, the two transactions together add up to 73,920 square metres (around 18.6 acres) and have a total deal value of ₹497.8 crore.
Both companies are part of the Neterwala Group. Uni Abex Alloy Products is a listed company, while Chemicals and Ferro Alloys Private Limited is a private entity within the promoter group and holds a 21.85% stake in Uni Abex, according to historical promoter shareholding disclosures, Propstack said.
An email query was sent to RSVM Hospitality, Uni Abex Alloy Products, and Chemicals and Ferro Alloys Private Limited. The story will be updated if a response is received.
Also Read: Cricketer K L Rahul and his father-in-law, actor Suniel Shetty, buy land for ₹9.85 crore near Mumbai
Land deals in the Mumbai Metropolitan Region (MMR)
Among the top 7 cities, MMR saw the highest land area transacted with more than 500 acres in 32 separate deals, accounting for over 13 per cent share of the total land transacted across India in 2025. The planned developments include residential, commercial, industrial, data centre, and plotted developments, according to a January 2025 report by ANAROCK.
Also Read: Jeetendra, Tusshar Kapoor sell 11-storey Mumbai commercial property to NTT for ₹559 crore
Among these, one land deal involved Cricketer KL Rahul and Bollywood actor Suniel Shetty, who, in March 2025, jointly acquired a 7-acre parcel of land in Owale, Thane West, near Mumbai, for Rs. 9.85 crore, according to property registration documents accessed by Square Yards.
