Shapoorji Pallonji Real Estate to invest Rs 300 crore for constructing new phase of luxury project in Bengaluru

In February, Shapoorji Pallonji Real Estate sold over 600 units in its newly launched housing project VANAHA in Pune because of accelerated demand. [Representative image]

Shapoorji Pallonji Real Estate has announced the launch of a new phase at its luxury residential project comprising 440 units Parkwest in Binnypet, Central Bengaluru and will invest Rs 300 crore for constructing the new phase in its 46-acre project.

The new phase will have around 440 luxury apartments with configurations of 1 BHK, 2 BHK, 2.5 BHK and 3 BHK, ranging from 462.10 sq.ft. to 1185.07 sq.ft. The residences are available between the price range of Rs 72 lakh to Rs 2.06 crore onwards, the company said.

In three phases, the company had launched over 1900 apartments which are almost sold out. It has also delivered more than 700 apartments of Phase 1 as per the timeline.

“We have witnessed a steady demand for spacious luxury homes in the last few months which indicates a shift in the post-pandemic consumer behaviour in the Bengaluru market. Leveraging this shift and latent demand, we have planned to launch a new phase, believing this is the right time to bring best products to the central Bengaluru micro-market,” said Venkatesh Gopalakrishnan, chief executive officer at Shapoorji Pallonji Real Estate.

“Given the current scenario, customers look forward to assurance from trusted brands to reimpose their faith in buying a home and we are confident that Parkwest will not only deliver but exceed customers’ expectations of luxury living,” Gopalkrishnan said.

The newly launched phase, named Parkwest 2.0, will have a state-of-the-art clubhouse, infinity-edge pool, pet park, adventure play area, BBQ deck, Zen garden, senior citizens pavilion, cricket pitch, themed gardens, sandpit, treehouse, spa, gymnasium, jogging track, tennis court, basketball court, squash court, table tennis, amphitheatre, restaurant, reading corner, multi-purpose sports arena etc.

It is one of the largest luxury residential gated communities in the centre of the city. It offers modern lifestyle amenities that includes Club Uno – a 5200 sq. mt. clubhouse with premium amenities like swimming pool, two squash courts, multipurpose court, table tennis, cards room, gym, restaurant, banquet hall, salon, spa and guest rooms. The company has already delivered the clubhouse with Phase 1.

Located at Binnypet, in the heart of Bengaluru, the project is within easy reach from Metro Station, Majestic Bus Stand and City Railway Station. Parkwest ensures the best for residents, offering easy access to the Central Business District, shopping malls, schools, hospitals, commercial complexes, restaurants and entertainment options.

In February, Shapoorji Pallonji Real Estate sold over 600 units in its newly launched housing project VANAHA in Pune because of accelerated demand.

Shapoorji Pallonji Real Estate has a development pipeline of over 80 million sq. ft and is looking to double its top line in the next two to three years.