The court had convicted Jatin Dedhia, Nazim Khan and Hasruddin Malik on July 27.
Today, all three were given life imprisonment.
According to the prosecution, Jatin hired the two men to kill his wife Beena, because he was in love with his brother-in-law's wife Rupal Chheda but Beena was not ready to give him divorce.
Beena was stabbed to death by two men when she and Jatin were on morning walk in Kala Chowkie area on October 27, 2009. The attackers snatched her jewellery and injured Jatin before fleeing.
The crime branch of Mumbai police arrested Nazim Khan, Jatin, Hasruddin Malik, Rajnikant Wagh and Rupal Chheda in the case.
While Chheda was discharged by the High Court, Wagh was acquitted by the trial court for lack of evidence.