Growing neighbourhoods, a thriving manufacturing industry, brilliant developed as well as emerging infrastructure – that’s what the bustling Binnypet in Central Bangalore has become known for in the recent years.
Now is the time to make the most of investment opportunities in this area as it steadily grows to meet a number of real estate gold standards. Let’s dive into it.
In the decade of 1880s to the 1890s, Binny Mills in Bangalore peaked in its success while employing more than 7,220 workers. It manufactured fabrics of superior quality that received high demands throughout the country while supplying materials to the army as well. This success eventually led to what we now know as Binnypet. It became a hot residential as well as manufacturing hub for the mill workers while also benefiting from the surge in West Bangalore migration that led to the birth of various neighbourhoods.
Even as Binny Mills started to decline, the location had already become a prime real estate area. It attracted development due to its land magnitude and became a growing residential neighbourhood that offered livelihood to workers, in the same way that the Mumbai mills attracted progress and growth in that city.
Binnypet is also situated amidst Bengaluru’s historical and ecological charm. Tipu Sultan’s Palace and Bangalore Fort add historical charm to the region while a number of parks and gardens including Lalbagh, Cubbon Park, Freedom Park, and bring beauty to Binnypet. It also helps that there are a number of renowned educational and medical institutions located in its vicinity.
Location is everything when it comes to wise real estate investment and Binnypet definitely delivers on that front. It offers easy access to the Central Business District while enjoying proximity to a host of transport options. It is close to the Metro Station, Majestic Bus Stand, and City Railway Station. Mysore Road that grants access the the Magadi Main Road and KSR Railway Terminus is also nearby. It is conveniently set at the intersection of 2 prominent metro lines – Mysuru Road to Kengeri and Byapanahalli and Whitefield.
It also has high potential of attracting demand from homebuyers for its abundant civic amenities from shopping malls, restaurants, and entertainment options to and schools, hospitals, commercial complexes, and other lifestyle amenities.
All of these benefits attract the attention of renowned developers that set a new benchmark for real estate in the area with luxurious townships. These projects are the catalyst for price appreciation in the area and now is the right time to get in on it. The current real estate prices in Binnypet sit at a very reasonable amount with the potential to reach enormous returns, even as per conservative estimates. Just in the last three years, it has seen a growth of approximately 15%.
In this golden period of rising real estate potential, Shapoorji Pallonji Real Estate has launched the new phase of its massive 46-acre residential development. This Parkwest project promises hundreds of luxury apartments and 75% open space within its total area.
It is a great time to invest in the 2 and 3 BHK homes at Parkwest, Binnypet with prices that start at Rs.1.25 Cr. and Rs.1.85 Cr. respectively. Select units in the Pine Tower and Oak Tower of Parkwest can be booked with a special 5:95 scheme. This is a flexi payment scheme/CLP Pre-EMI scheme offered by Yes Bank where the customer contribution of 20% in addition to the initial contribution of 5% will be payable on receipt of occupation certificate.
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