Invests:PBEL Rs 500 cr across 3 cities in India

Invests:PBEL Rs 500 cr across 3 cities in India

In The Hyderabad newest entity to enter the booming real estate business in India, PBEL, a joint venture of Israeli giants Property and Building Corporation (PBC), Electra Real Estate (ERE) and an Indian developer INCOR Infrastructure, today announced that the company has invested in property, worth Rs 500 crore, across three cities in India.With the investment the company acquired 58 acres land in Hyderabad and 42 acres in Chennai for a mixed township project and a 10 acre residential neighbourhood in Mysore, PBC Chairman's Executive Assistant Alex Meinster, PBC international operations VP Ehud Elizur and ERE business development VP Shai Weinberg jointly announced this,PBEL Director and Founder Meir Boukris said the company had planned to build one crore square footage of world quality space in these cities over the next 12 months. Weinberg said the JV which had so far invested $120 million would be looking at all options to.

Property in Delhi

Prime real estate in Central and South West Delhi has witnessed steady purchasing activity.
This may be attributed to the fact that the availability is limited in South & Central Delhi.
Many investors, High Net worth Individuals HNI as well as NRIs are focused there.
Most of the sales have been in the small developments on old plotted areas where developers are building single floors.
There is hardly anything available for the middle and the lower middle classes.
There is nothing in studio apartment or the 2 bedroom category.
The actual buyer is definitely there but is waiting for values to stabilize or interest rates to dip.

Property in Noida

There had been a decline in plot capital values in the last 6 months by 20-40 per cent across most sectors in Noida such as Sector 11, 12, 19, 20, 22.
Capital values all across are stabilizing to an average of 10-15 per cent with the fluctuations in share market the properties are going steady.
The loan conditions are tough so the properties are not much appreciating; they are stable but not increasing much, from the past 4-5 months.
The dip was maximum in sectors-19, 20, 22 in December to almost 25-40 per cent. The values however revived in last 3 months by approx 12-15 per cent.
However prime sectors such as Sector 14A, 15A etc continue to command high plot values at Rs 74,000-1,60,000 per sq yard for the month of February.