Hello nirajrdave! Welcome to FreeCAD and the Forum
It's best to use these instructions http://www.freecadweb.org/wiki/index.php?title=Compile_on_Windows_with_VS2013
it's also not up to date
Assuming that you are trying to build 0.17 from master (hopefully using git) you will need a newer libpack https://github.com/sgrogan/FreeCAD/releases/tag/0.17-med-test
You'll want to pick the x86 version.
You will need to disable BUILD_FEM_NETGEN with CMake. You should then be able to do a release build. I haven't added any debug libs for OCCT7 to the libpack, if you need a debug build let me know and I should be able to provide the OCCT7 debug libs.
In the libpack FreeCAD provides a Python2.7 compiled with VC12 2013. You want to link against this one for FreeCAD, the default Python.org 2.7 uses VC9 2008.
QT4 is used in the libpack. In current master FreeCAD has been ported to add QT5 support. If you need this. First make sure that your QT5 is compiled with VC12 2013. Then you will need to compile Pyside2 and Shiboken2 yourself. wmayer today has posted some instructions. http://forum.freecadweb.org/viewtopic.php?f=10&t=19823
Then some work to get everything into the libpack will be necessary. I haven't started this yet so if you go this route we can learn together.
Please ask questions where I'm not clear. I think trying to build an x86 release build linked against the libpack referenced above is the way to start.
PS: I suggest to use the CMake Gui as it's easier to see problems until everything is set up.