Runwal Group Acquires 20 Acre Land in Thane For INR 471 Crore

The Runwal Group has acquired a plot of property in Thane comprising more than 20 acres from PB Global Ltd for INR 471 Crore.

The land transaction, which has occurred in stages, is a transfer between Dhruva Woollen Mills Pvt Ltd, a subsidiary of Runwal, and PB Global. According to local real estate sources, the purchase was recorded in separate agreements during the first week of April 2022.

The fact that Mumbai's primary development alternatives are redevelopment and SRA projects, Thane becomes the ideal location for real estate developers. 

Importantly, Thane gives enormous land parcels on which to construct mini-townships. With the new age home buyers giving preference to gate community living and demanding a whole host of amenities and facilities, this one factor itself becomes a very huge attraction to develop real estate in Thane.

Thane property also provides the much-needed affordability that Mumbai real estate lacks, according to a top Thane real estate expert.

In reality, Thane continues to see intense activity on the infrastructural front, as well as the construction of industrial and logistics parks. Many Thane real estate developers continue to see the city as a desirable location for purchasers.

The news of big land deals in Thane are therefore predicted to come thick and fast in the coming months and years with a lot of Mumbai real estate developers looking to develop new real estate projects in Thane.