New Delhi, Oct 1 : Realty major Parsvnath Developers has sold an additional four percent stake in a luxury residential project in Delhi to private equity fund Red Fort Capital for Rs. 25 crore.

Red Fort had earlier picked up an 18-percent stale in the Parsvnath La Tropicana project in north Delhi's Civil Lines area from Parsvnath in June for Rs. 90 crore.

The construction of the project has started, with the developers having received requisite approvals including sanction of building plans by the Municipal Corporation of Delhi and environmental clearance, Parsvnath said in a statement. (ians)