Hyderabad-based real estate developer, PBEL India is planning to build a township, PBEL City, in the city at a cost of Rs 1,200 crore. The township will comprise of 13 residential and two commercial towers. PBEL City, a joint venture between PBC and Electra Real Estate, both from Israel, and Incor from India, is projected to come up in Rajendranagar on the outskirts of Hyderabad. The company has spent about Rs 200 crore on the project for purchasing the land and creating infrastructure. PBEL India will raise funds from internal sources and through banks.