Construction majors joins to shape PBEL City
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As per to the sources saying @ the www.propertykhazana.com, PBEL Property Development is planning to develop a venture ‘PBEL City’ in the peripheries of Hyderabad, and has signed an agreement with L&T an engineering and construction company. According to the deal, L&T will construct around 2,000-2,500 flats for PBEL on a turnkey basis at an investment of Rs. 555 Crores. The venture will be finished in the coming 3-4 years and will have 12-13 housing and 2 commercial towers. Each tower will include 19 floors with each level having 12 apartments, added the source.
PPD Director said to www.propertykhazana.com that, “PBEL was planning to develop 15 Million Sq.ft of housing and commercial space across Hyderabad and Chennai. PBEL City will structure for about 4.8 Million Sq.ft, as the housing and commercial ventures are rising up in Chennai and the Logistics Park at Shamshabad which will have 5 Million Sq.ft and 3 Million Sq.ft correspondingly.” Speaking to www.propertykhazana.com he said that, “There is no rejection that the market has come down, but it is by now a mature market with real purchasers. Already about 45% of its 2 BHK apartments have been booked by the people.”
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