The girl, a resident of Gautam Nagar, had been missing since Tuesday evening, said a police officer.
The girl had left her house along with her brother to play at a ground near her house. While her brother returned home, she continued playing with other kids, said senior inspector V D Bhise of Bhoiwada under the Bhiwandi police division.
After she did not return home till late evening, her parents went looking for her. Her parents later approached the police, he said.
On Wednesday evening, the girl's body with her hands missing was found lying in bushes just 300 metres away from her residence, the police said.
The motive of the murder was not yet known, Mr Bhise said, adding only a probe will ascertain if it was a case of child sacrifice.
(with inputs from PTI)
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