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.

J&K, Jan 18: Ansal Buildwell Ltd, the real estate developers, today announced Rs 150 crore investment in Jammu and Kashmir, with its Rs 30 crore residential project - Florence apartments -- in the city of temples. The real estate player, in a joint venture with a local Sansar Group of companies, has taken up Rs 30 crore residential project near Jammu Tawi railway station as its first step to advance in J&K. ''This 72-apartment luxurious and integrated housing project of Ansal (Buildwell) will be completed in 23 months time,'' company's DGM (Marketing) Rajeev Kalia said at a press conference. The project consisting of two towers of five floors each with 24 two-bedroom and 48 three-bedroom appartments will be completed in 1.4 acre land. As the Ansal Group, being an outsider, cannot acquire property under the special status in J&K state, it has come up with an association with Sansar Group which, owns land within the Jammu Municipal Limits at Trikuta nagar. ''All the formalities for florence apartment have been completed and its foundation stone will be laid tomorrow,'' Mr Kalia announced. The Delhi-based real estate company plans Rs 150 crore investmentfor taking up integrated townships and commercial projects in the state. On Kashmir, Mr Kalia said, ''yes, we would like to work in the valley, but someone (locals) have to come forward there also.'' Ansal buildwell is also negotiating on some more projects in the state. ''yes they are in the pipe-line, but not freezed yet.

DDA Mumbai Plain

1.In Mumbai (PTI): Indiabulls Real Estate on Thursday said it has acquired the stake of DLF, country's largest realty firm, in Tehkhand residential project at South Delhi for an undisclosed amount.
2.DLF and Indiabulls had formed a JV firm, Kenneth Builders and Developers, in 2006 to develop a high-end housing projects in South Delhi. Both companies have equal stake in the project.
3.The acquisition was made through Indiabulls Infrastructure Ltd (IIL), a subsidiary of Indiabulls Real Estate, the company informed the Bombay Stock Exchange.
4.With this acquisition IIL now owns 100 per cent stake in Kenneth Builders & Developers, which had earlier won the auction by Delhi Development Authority (DDA) to develop a residential project at Tehkhand in South Delhi.
5.The wholly-owned subsidiaries of Indiabulls and DLF, owned 50 per cent stake each in the Kenneth builders. 6.The JV had bought 35.8 acres of land at Okhla for Rs 450 crore from Delhi Development Authority.
7.Indiabulls Real Estate bought out DLF Home Developers shareholding in Catherine Builders and Developers, which owns 50 per cent stake in Kenneth Builders. The remaining 50 per cent shareholding of Kenneth is owned by Bridget Builders, a wholly-owned.