Why You Should Invest in Binnypet, Bangalore

 

Real estate is a popular investment option for many due to its potential for long-term returns and wealth creation. However, location is one of the most critical factors when investing in real estate. The location of a property can significantly impact its value, rental income potential, and overall return on investment.

Investing in a property in a desirable location with good infrastructure, amenities, and access to transportation can increase its value over time and attract high-quality tenants. On the other hand, a property in a less desirable area with limited infrastructure, high crime rates, or poor access to transportation can decrease in value and have difficulty attracting tenants or buyers.

A location that has put itself on the real estate hotspot map is Binnypet in Bangalore. Once known as a satellite town, Binnypet has seen enormous development in recent years. According to the 2020 Ease of Living Index, Bangalore ranked as the most liveable city in the country. The Binnypet region has been no exception to this transformation in Bangalore.

A Famed Past

When we speak of Binnypet, we cannot ignore the history of this place. Bangalore Steam Woollen Mills, also known as Binny Mills, was a crucial contributor to the garment industry in Karnataka. The Binnypet area was known for the Binnyston Garden, a green haven with vast lakes. Due to the embrace of modernisation, Binny Mills was closed down in 2005. After this, Binnypet remained a hidden area in the rapidly developing Bangalore city.

A Rejuvenated Renovation

In recent years, Bangalore gained fame as the ‘Silicon City’ of India. It resulted in a mass migration of individuals from all over the country into the city. The once-forgotten area of Binnypet was one of the many regions that benefited from this influx. The location of Binnypet caught the attention of real estate developers, and big names in the market undertook premium projects in the Binnypet area.

A Promising Future

As Binnypet started flourishing due to the rapid development of Bangalore, real estate developers began to understand the importance of Binnypet. Binnypet is a well-connected area with convenient access to the commercial and residential hubs of the city. The Binnypet area today has excellent connectivity with easy reach to different regions in Bangalore by the Namma Metro, Magadi Road, MG Road, and the KSR Railway Terminus, also known as the Bangalore City Railway Station. At Binnypet, two metro lines intersect-Mysuru Road to Kengeri and Byapanahalli to Whitefield. The distance to the Kempegowda International Airport is 37 km.

Top Reasons to Consider Investing in Binnypet in 2023

Source: Magic Bricks

Shapoorji Pallonji Parkwest Residences in Binnypet

Shapoorji Pallonji, one of the most trusted Indian brands offers two stunning residential projects in the thriving region of Binnypet in Bangalore — Parkwest and Parkwest 2.0. These residential projects have a host of top-quality amenities and are located in prime zones of Binnypet with easy access to other parts of the city.

To learn more, visit — https://shapoorjirealestate.com/residential/parkwest-20/

Originally published at http://realestateandepc.wordpress.com on April 21, 2023.

Why is it the ideal time to invest in Binnypet, Bangalore?

 

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. 

Shapoorji Pallonji Parkwest, Binnypet Bangalore

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.