Hindustan Construction Company (HCC) which is country’s leading construction firm has declared that it will soon strip its stake. The firm revealed the fact that it will divest its major proportion of investment, i.e. 74% of its stake in various other projects.

At present, the firm’s focus is the project called ‘247Park’. This project lies in Mumbai and this project is expected to work as a milestone for the company’s business destination. IL&FS Milestone Fund are the ones from which firm has striped stake.

The ‘247Park’ will be the hugest standalone LEED Gold certified green building in India. The total estimated value of this Park is Rs. 775 cr. The project is spread over an area of 1.8 million square feet. While Vikhroli seems to acquire a good position in the ranking of business corridors in Mumbai, this ‘247Park’ is located at the heart of Vikhroli. This project was completed in March, 2010 and in just a couple of months, its more than 85% of space has already been leased.

According to Mr. Rajgopal Nogja who is the President of HCC Real Estate Ltd., HCC has finished the project in time without compromising on the high standards of the project.

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