Rishabraj Developers Acquires 3.84-Acre Land in Borivali, Mumbai for INR 539 Cr

In a significant real estate move, Rishabraj Developers has acquired four adjoining land parcels in Borivali West, Mumbai, totaling 3.84 acres, for a whopping INR 539 crore. The seller, Mumbai Khadi and Village Industries Association, a registered trust, completed the transaction with Rishabraj Developers on March 30, 2025, as per documents accessed via CRE Matrix. This acquisition marks one of the biggest land deals in Mumbai's suburban belt in recent months.

Freehold Land to be Transformed into Premium Projects

The acquired plots, currently lying vacant, are freehold in nature and earmarked for the development of residential and commercial spaces. Rishabraj Developers, with a strong footprint in Mumbai’s western suburbs, is expected to bring in mid-to-premium segment housing alongside mixed-use commercial developments, enhancing the skyline of Borivali West and offering significant real estate value in one of the city’s fastest-growing zones.

Structured Payment Plan with Massive Upfront Commitment

As part of the deal, Rishabraj Developers has already paid INR 52 crore upfront, while the remaining INR 487 crore will be paid in a phased manner over four years. The developer also incurred over INR 32 crore in stamp duty and a registration fee of INR 30,000, reflecting the project's scale and regulatory compliance. The deal structure highlights the developer’s confidence in Mumbai’s long-term real estate growth and market demand.

Contingency Clause Secures Seller’s Interests

The agreement includes a safeguard clause to protect the seller's interests. In case Rishabraj Developers defaults on payments, the seller is entitled to 2.2 lakh RERA sq. ft. of residential flats and a 1,000 sq. ft. commercial unit from the upcoming development. This ensures value recovery and indicates the high stakes and value of the project planned on this land.

A Strategic Move to Cement Market Position

This strategic acquisition further strengthens Rishabraj Developers’ portfolio in Mumbai. With several redevelopment projects already under its belt, the company is expected to unlock tremendous value from this prime Borivali land. Experts predict the location’s connectivity and infrastructure will attract both homebuyers and businesses, making it a future-ready investment.

Key Highlights of Rishabraj Developers' Borivali Land Acquisition:

• INR 539 crore deal for 3.84 acres in Borivali West, Mumbai.
• Acquired from Mumbai Khadi and Village Industries Association.
• Transaction registered on March 30, 2025.
• INR 52 crore paid upfront, with INR 487 crore due over 4 years.
• Over INR 32 crore in stamp duty and INR 30,000 registration fee paid.
• Land to be developed into residential and commercial projects.
• Safeguard clause: seller to receive 2.2 lakh RERA sq. ft. of flats + 1,000 sq. ft. commercial space in case of default.
• Major boost for Rishabraj Developers’ presence in Mumbai’s western corridor.