PBEL PROPERTY Development (India) Pvt Ltd, a joint venture of Israel based Property and Building Corporation (PBC), Electra Real Estate (ERE) and INCOR infrastructure, has invested twenty crore rupees in Mysore to build a residential township.
Announcing this progress, PBEL, executive director Anand Reddy said, “The Company has invested twenty crore rupees on a ten acre plot of land at Devanoor village along the ring road in Mysore to build a residential township. This is in tune with our strategy to build a land bank in secondary cities across south India. The company, in addition to Mysore, has short-listed Coimbatore in Tamilnadu and Vizag in Andhra Pradesh for sizeable investments.”
PBEL has invested five hundred crore rupees so far and is actively pursuing more investment opportunities in the real estate sector across south India. It intends to develop and build high quality high-rise apartment buildings with modern amenities in environment friendly surroundings. PBEL will be bringing internationally known high quality products and consultants from abroad who have worked on renowned projects world wide to ensure that international standards are met. The investment has seen the company acquire ten acres of residential land in Mysore. This is in addition to fifty eight acres in two land parcels in Hyderabad and forty two acres in Chennai for a mixed township project.
PBC, a subsidiary of the IDB group, is active in the realty space in three continents: North America, Europe and Asia. The IDB Group is Israel’s largest business conglomerate with global assets in excess of twenty seven billion dollar. PBC is a major participant in the development of the new plaza Las Vegas hotel. ERE is one of the leading real estate companies in Israel, owning over one hundred nine properties and fifty eight hotels in Europe and North America and is a subsidiary of Elco holdings, one of the main business groups in Israel.
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As Mysore Airport is nearing its completion, the present Mysore-Ooty road is going to be closed and will be diverted into a four track highway like Mysore-Bangalore road, (behind /beneath Sri Chamundi Hill) the survey dept has laid the survey stones, to identify the road. There are plenty number of residential layouts are coming up nearby. As these area is just 8kms away from Mysore city, and the Inner Ring road is bisecting the layouts, it has high value. If you take the four track proposed road, the Air port is just 7kms. The well develped J.P.Nagar layout is just 04 kms.
There are around 100 acres of land is available for sale. As this is a Yellow zone (Residential belt), getting change of land/D.C.Convertion/MUDA Plan approved is so easy.
If you are really interested to form lay outs/ to buy these lands please contact me.
R.PRASANNA.,
09845182943