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 piece of land is situated in Panvel’s Karnala village in the Raigad district. The documents indicate that the transaction, which was registered on December 4, incurred 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.
HCC has not yet answered Moneycontrol’s question. After receiving the response, the copy will be revised.
