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As per to the sources saying @ the www.propertykhazana.com, Hyderabad based realty developer PBEL India, is geared up to develop a township in the city at a net amount of Rs. 1,200 Crores. Named PBEL City, the township will include 13 housing and 2 commercial towers and this venture is a JV among PBC and Electra Realty – both are from Israel and Incor from India and this will develop in Rajendra Nagar on the periphery of Hyderabad.
Project Executive Director, Anand Reddy said at the www.propertykhazana.com that, “PBEL City was the company’s debut venture in Hyderabad and it has invested around Rs. 200 Crores on the venture for buying the property and forming infrastructure. Company will hike the funds from internal sources and by banks, in the initial phase will be ready within 2 years and the venture will have 500 units with a developed area of 1,050-1,600 Sq.ft. As, the second phase will be completed in 2 years and the 3rd phase will be finished in 3 years, the units will range from Rs. 40 Lakhs to Rs. 55 lakhs each.”
Company is proposing a super venture across the city and in other parts of the world. Earlier, PBEL had purchased around 110acres worth Rs. 500 Crores across the different cities, at present, it is concentrating on Hyderabad, Chennai and Mysore and proposals to invest around Rs. 4,700 Crores in the coming 3 years. For more updates and information on real estate markets browse www.propertykhazana.com.
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