The HCC board decided on November 9 to sell the land as part of the asset monetisation of debt resolution, according to documents provided by CRE Matrix.
According to registration documents obtained by real estate data analytics company CRE Matrix, infrastructure giant Hindustan Construction Company (HCC) sold a 2.35 lakh square meter land block in Panvel, close to Mumbai, to Oak & Stone Construction Pvt Ltd for Rs 95 crore.
The land parcel is situated in Panvel’s Karnala village in the Raigad district. The documents indicate that the transaction, which was registered on December 4, cost a stamp duty of Rs 5.70 crore.
The Board of HCC voted on November 9 to sell the land as part of the debt resolution plan’s asset monetisation, according to documents made available by CRE Matrix.
In October, Bombay Dyeing and Manufacturing Company Limited (BDMC) made an announcement regarding another significant land transaction. It stated that it had executed a conveyance deed with Goisu Realty Private Limited, a division of Sumitomo Realty & Development Company Limited, and had been paid Rs 4,675 crore for the sale of a 22-acre land parcel in the Worli area of Mumbai, along with the corresponding Floor Space Index, or FSI.
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