Thane, February 1: The retail landscape of Thane is set for a significant transformation as demolition work intensifies at the former site of Huhtamaki Paper Products Limited in Majiwada for Phoenix mall. The clearing of the 11.5-acre industrial plot marks the formal commencement of the Phoenix Mills project, a massive 1.5 million-square-foot mixed-use development. With an estimated acquisition cost of INR 429 crore, the project is poised to become one of the largest lifestyle and commercial hubs in the Mumbai Metropolitan Region (MMR), addressing a long-standing demand for premium retail space in the city. Pictures of demolition at the Huhtamaki Paper Products site in Majiwada have also surfaced online.

Strategic Acquisition and Demolition

The land, situated at the critical Majiwada Junction, was acquired by Sparkle Two Mall Developers Pvt. Ltd., a wholly owned subsidiary of Phoenix Mills, in late 2023. The transition from industrial to commercial use reached a visible milestone this week as demolition crews began dismantling the old Huhtamaki factory structures. Leopard Spotted in Thane: Panic Among Residents As Big Cat Seen in Densely Populated Pokhran Road Area (Watch Video).

Demolition Underway at the Huhtamaki Paper Products Site in Majiwada for Phoenix Mall in Thane

Majiwada serves as the primary gateway for Thane, connecting the Eastern Express Highway (EEH) with the Mumbai-Nashik Expressway and Ghodbunder Road. This high-visibility location is expected to draw footfall not only from local residential clusters like Balkum and Kolshet but also from neighboring areas like Bhiwandi and Kalyan.

Mixed-Use Development Plans Includes Phoenix Mall

According to investor presentations from Phoenix Mills, the Thane project is envisioned as a "city-center lifestyle destination". While the primary focus remains a large-format retail mall - similar in scale to Phoenix Marketcity or Palladium - the 11.5-acre site is designed for a comprehensive development mix:

Retail: Between 1.2 and 1.5 million square feet of leasable area.

Hospitality: Plans include a premium hotel to cater to business travelers.

Commercial: Office spaces are expected to be integrated into the later phases of the project.

Residential: The developer is currently evaluating the viability of adding luxury residential components to the mix.

Addressing the Retail Deficit

For years, Viviana Mall has remained the dominant retail destination in Majiwada, often facing significant overcrowding during weekends. Market analysts suggest that the entry of a Phoenix-branded mall will help distribute this consumer pressure while introducing global luxury brands that are currently underrepresented in the Thane market. Maharashtra Fire: Massive Blaze Erupts in Power Loom Factory in Thane’s Khoni Village, One Firefighter Injured (Watch Video).

Impact on Infrastructure and Property

The timing of the project aligns with several major infrastructure updates in the vicinity. The upcoming Metro Line 4 (Wadala-Kasarvadavali) and the proposed Thane-Borivali Twin Tunnels are expected to further boost the accessibility of the Majiwada node. Local real estate experts anticipate that the presence of a "Phoenix" destination will act as a catalyst for property value appreciation in Majiwada, which has already emerged as a hub for luxury high-rises. Construction of the mall's first phase is expected to be in full swing by late 2026, with a tentative completion window aimed at 2028.

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(The above story first appeared on LatestLY on Feb 01, 2026 05:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).