High networth Sri Lankans were invited last week to invest in real estate and live in an Indian-backed reinfrastructure project in Mysore near Bangalore.

Highlands, an infrastructure development project worth Rs. 150 million and covering 25,000 to 30,000 acres is targetting the Sri Lankan rich in various classes. It is a joint venture between ESVEE Group and the Ishya Properties, and designed by Jurong International of Singapore, architects to over 1000 projects in 37 countries

“We would appreciate it very much, if more and more Sri Lankan investors come and join us in Mysore,” R.Girish, Chairman Managing Director, Ishya Properties, Bangalore, India told reporters in Colombo at a promotional briefing. The sites available at 15 perches will be sold at the current price of Indian Rs.7.8 million while the 18 perch sites are sold at Indian Rs.9.8 million.

Mr Girish said that Mysore is fast developing and there would be monorails that would reach Mysore from Bangalore in 55 minutes and in 2010 an international airport would also be built. There would also be lot of other facilities such as helipad, theatre, high end residential spa, etc.

Land prices in Bangalore are soaring and soon with fast development activity land prices in Mysore would also become prohibitive. Mysore located around 140 kilometres from Bangalore is fast emerging as a preferred destination for IT companies. Airports and the Bangalore-Mysore expressway will soon be completed.