Saturday, October 25, 2008

Hindustan Construction Company’s upcoming townships in Pune, Nashik and Thane on hold

Given the current turmoil in the market and subsequent impact on real estate, Hindustan Construction Company has decided to put on hold its planned townships in Pune, Nasik and Thane. Land acquisitions for these projects have been deferred for now given the high interest rates and low liquidity in the market.

HCC will focus more on government projects in power and water sectors and will look to bid for PPP projects with caution.


Ajit Gulabchand, chairman and managing director, HCC, said while the Lavasa and IT park in Mumbai is on schedule, the company has decided to go slow on the township projects in Pune, Nasik and Thane given the current market environment. to read more, please, visit - India Real Estate Monitor

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