Rishabraj's Ambitious Borivali Expansion: ₹539 Crore Land Acquisition

Rishabraj Developers has acquired four adjoining land parcels totaling 3.84 acres in Borivali West from the Mumbai Khadi and Village Industries Association, a registered trust. The deal, valued at ₹539 crore, was registered on March 30, 2025, under Rishabraj’s name, as per property documents accessed via CRE Matrix.

The freehold plots, currently vacant, are designated for residential and commercial development. Known for its redevelopment projects in Mumbai’s western suburbs, Rishabraj has paid ₹52 crore upfront, with the remaining ₹487 crore scheduled over the next four years. The deal also included a stamp duty payment of over ₹32 crore and a registration fee of ₹30,000.

As per the agreement, in case of a payment default, the seller will receive compensation in the form of 2.2 lakh RERA sq. ft. of residential flats and a 1,000 sq. ft. commercial unit on the site.

News by Rahul Yelligetti.