Rishabraj Developers acquires 3.84-acre land in Borivali

May 19, 2025

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Rishabraj Developers has acquired 3.84 acres of land in Borivali West, Mumbai, for Rs 539 crore from the Mumbai Khadi and Village Industries Association. The deal includes Rs 52 crore paid upfront and Rs 487 crore payable over four years. The developer plans to use the freehold land for residential and commercial developments. Stamp duty of Rs 32 crore and a Rs 30,000 registration fee were paid. If payment defaults occur, compensation includes 2.2 lakh sq ft of residential and 1,000 sq ft of commercial space.

Note: The above-mentioned news was first published by us in our ProjectX India | 15th May 2025 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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