India, April 14 -- Mumbai-based Rishabraj Developers has purchased four adjoining land parcels measuring 3.84 acres for Rs.539 crore in Borivali West area, according to property registration documents accessed by CRE Matrix.

The property registration documents show that the freehold land parcels were pqurchased from Mumbai Khadi and Village Industries Association, a registered trust.

The documents showed that the four adjoining land parcels, previously lying vacant, were registered under the developer's name on March 30, 2025.

They showed that a stamp duty of over Rs.32 crore and a registration fee of Rs.30,000 were paid for the transaction.

The documents indicate that the developer intends to develop the four land parcels into reside...