Thai real estate developer Pruksa Global plans to invest Rs 1,000 crore in projects in India and launched its first residential project in the country at Bangalore on Wednesday. The company has incorporated a wholly-owned subsidiary in India, Pruksa India Housing, which announced a 26-acre villa and row house project in Bangalore.
“Continuing our growth in Thailand, we want to invest in opportunities in other countries too. And India will be our first country outside Thailand,” said Thongma Vijitpongpun, CEO, Pruksa Real Estate.
The project, located at Budigere, off Old Madras Road, will develop 438 units in all — 238 villas and 200 row houses. Villas of about 1,632 sq ft will be priced Rs 59 lakh onwards, while row houses ranging between 1,232 sq ft and 1,249 sq ft will be available from Rs 39 lakh onwards. As an introductory offer, the company announced a Rs 2 lakh discount on the base price, and the offer will be available till November 14.
The company plans to launch 5-6 projects in Bangalore over the next four years, and is also planning launches in Chennai and Mumbai. It would enter into joint-venture agreements with developers in Chennai and Mumbai, company officials said.
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