While many real estate majors have started going slow owing to huge unsold inventories, Shapoorji Pallonji Real Estate has just announced the launch of a huge residential project in Bangalore.
The project, known as Phase 2 of the luxurious ParkWest project in Bengaluru, involves 11 high-rise towers and outstanding amenities spread across a sprawling area of 47 acres.
The project will also include a Bio-diversity Park over 7 acres and a Clubhouse over 4 acres.
The list of amenities includes an Aerobics Pod, Amphitheatre, Barbeque Pavilions, Basketball Courts, Butterfly Park, Cricket Pitch, Cycling Track, Jogging track, Outdoor Gym, Reflexology Path, Picnic Lawns, Skating Rink and Swimming Pool amongst many others. In addition to this, the towers will also have dedicated Sky Zones for entertainment.
With construction in full swing, the planned delivery schedule for ParkWest begins in December 2017, the Mumbai-based group said.
The project offers 2 BHK, 3 BHK, 4 BHK and Penthouse units ranging from 660 sq ft to 3350 sq ft.
“Situated right in the heart of Bengaluru, the project is at a 10 minute drive from M.G. Road, 5 minutes from the Bengaluru Railway Station, 5 minutes from Majestic Bus Station and about a minute from the closest Metro station.”
“The Phase I of ParkWest received an overwhelming response and with the second phase we already have an underlying demand. The project will stay true to its signature quality offering and offer an exclusive living experience to its residents,” said Kekoo Colah, Executive Director – Shapoorji Pallonji & Co.
Bangalore has proven to be the most resilient of India’s cities as far as real estate prices are concerned. While prices are declining in bigger markets like Mumbai and Delhi, in Bangalore, prices continue to be stable or even increase by 2-4% per year.
India has seen a massive run-up in real estate prices over the last thirty years, with prices going up 30-40 times in many areas. While many believe that the market will now correct for a few years, others believe that a correction is impossible.