Rishabraj Developers has made a significant move in Mumbai’s booming real estate market by acquiring a 3.84-acre land parcel in Borivali West for ₹539 crore. The land, located in the prime Shimpoli area, was previously owned by Khandelwal Groupe. This acquisition is expected to pave the way for a major residential development project in one of Mumbai’s most in-demand western suburbs.
According to reports, the deal was finalized through a 99-year lease transaction and marks one of the most notable land deals in Mumbai’s suburban real estate space in recent times. The area’s proximity to key infrastructure like Link Road and the upcoming Metro connectivity makes it a highly strategic location for new housing projects.
The real estate market in Borivali has seen growing interest from developers due to rising demand from end-users and investors seeking well-connected, livable neighborhoods. With this acquisition, Rishabraj Developers aims to strengthen its presence in the Mumbai residential market by launching a premium project catering to modern urban buyers.
The company is known for its previous projects across Mumbai suburbs and is now set to leverage this prime land for high-rise residential towers with upscale amenities. Experts believe this move also reflects a broader trend of land acquisition and redevelopment activity in Mumbai’s established localities, driven by increasing demand for quality housing options. As infrastructure continues to improve and land availability becomes more limited, such strategic acquisitions are likely to become more common among leading developers
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