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Community Living, Harmonised With Nature In The Heart Of Bengaluru: Ajay Sharma
Ajay Sharma, National Sales Head, Shapoorji Pallonji Real Estate speaks about the real estate giant’s legacy, importance of community living and the evolving real estate market. All factors that have played into the construction of their latest project, Parkwest 2.0 situated at the heart of Bengaluru.
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For over 150 years, Shapoorji Pallonji has been on the forefront of construction and engineering and is now a household name in real estate development. Parkwest 2.0 is their latest project, based in Binnypet, Bengaluru. Ajay Sharma opens about balancing the growing demands of the ecosystem while keeping true to the company’s philosophy.
What is the driving philosophy of Shapoorji Pallonji?
Many of our early projects have stood the test of time and serve as monuments to our age-old legacy. It's our ability to take on projects of scale and complexity and our ability to deliver consistently that has helped us build a reputation amongst our partners and customers. The brand has been positioned to be ‘Constantly Committed’ in every aspect of our business. Our relentless pursuit to consistently do better and go the extra mile is what sets up apart.
How has the homebuyer’s expectations/demands changed over the last couple of months? Residential sales in the first six months, between January and September, increased by 47 per cent compared to the same period in 2020, across the topseven Indian cities, according to a leading property advisory firm’s report. On a sequential basis, sales improved by 65 per cent during the September quarter compared to the preceding three months, prompted by lower covid-19 cases, robust vaccination drive which led to cautious unlocking of the economy in various states.
Developers have already started launching optimal sized apartments to capture changing consumer preference across most of the cities. Indian residential sector is expected to witness sustained growth in the coming quarters. The renewed buyer’s confidence has been instrumental in the recovery of the housing market in H1 2021, which recorded good volume of sales and launches as compared to the same period last year and almost inching towards the pre-covid era.
According to the city-wise data, housing sales in Bengaluru increased to 5,100 units during July-September 2021 from 1,742 units in the corresponding period of the previous year. We have also witnessed positive response from the home buyers during the launch of Parkwest 2.0. We are confident that positive consumer sentiment will increase during this festive season.
What are some of the unique characteristics of the Bengaluru residential market?
Due to growing job opportunities across sectors a lot of people have migrated to Bengaluru which is one of the key reasons as the market has to tune according to the purchasing power of the buyers who are mostly end-users engaged in the IT and other industries.
IT and the ITeS sector are two of the sectors which constitute the major consumers of homes in Bengaluru, and we are seeing more and more Millennials investing in real estate.
The prices of real estate in the city have always been stable opines the experts and analysts. As it is not so much investor driven, speculative pricing has not so much affected the Bangalore realty market. It has always been the case that due to speculative pricing the prices of few areas in different metros rises due to the announcement of infrastructure development like airport which does not hold good in case of Bangalore. This is one of the reasons why the purchasers’ sentiments have always been high in Bangalore as there are no major fluctuations noticed in the Bangalore realty market.
What makes Shapoorji Pallonji Parkwest 2.0 stand out among other residential areas?
Located in Binnypet, Parkwest 2.0 envisions to restore the glory of the heritage site Binny Mills, by transforming it into an integrated township. The driving aim behind this construction was to promote community living, harmonised with nature and above all, providing a superior way of life in city centre.
The area is spread across ~46.39 acres with 75 per cent of open and green spaces, making it one of the largest residential developments in city centre. The current market had always a demand of larger and spacious homes, with WFH people being a new culture, buyers primarily look for spacious living and homes that come with various lifestyle amenities and conveniences, as well as connectivity to the city centre. Residents of Binnypet have seamless connectivity to IT Hub, Airport, and other parts of Bengaluru, including, vibrant markets, significant landmarks, well established hospitals, and reputed schools & colleges.
Some of the lifestyle amenities Parkwest 2.0 have are:
- Wide Decks
- Exclusive pool for ladies
- Delightful treehouse
- 2 master bedrooms
- Exclusive clubhouse and many more.
Tell us about some of your ongoing/future projects.
Launched near Bavdhan, West Pune in January 2021, the project is spread across 148 acres of land. The project will be a mixed-use development and will be a part of one of the largest townships in India. This premium mixed-use development will be executed in phases and will have more than 6000 apartments on completion. In the first phase, over 600 apartments with various unit configurations consisting of 1, 2 and 3 BHK have been launched. The thoughtfully designed project will have over 90 acres of open space. The cluster will be blessed with a dedicated state of the art clubhouse, swimming pool, Kid's Play Area, Garden Walkway, Cycling Track. The larger township will house Commercial office Spaces, Retail, Playgrounds, School, Fire station and a hospital to name a few.
Shapoorji Pallonji Vicinia
It is a luxury residential project by Shapoorji Pallonji Real Estate. Vicinia is located at Chandivali near Powai which boasts of abundant greenery and open spaces as well as proximity to vital social and civic infrastructure. Restaurants, malls, cafes, and social hangouts are just around the corner. Vicinia is a confluence of culture, entertainment and sports with its open spaces, health and sports centres, leisure zones and banquet areas. The location is a huge plus point – with its abundant greenery and proximity to shopping malls, entertainment hubs, airports, and metro stations. Luxury 2 BHK homes at Vicinia are available at Rs 1.99 Cr.* (all. incl.).
Shapoorji Pallonji Northern Lights
SPRE has given Thane an upmarket edge with its first premium residential project, Northern Lights - spread over 4.8 acres, with distinctive 2 BHK homes. What sets Northern Lights apart are the thoughtfully designed over 60 lifestyle amenities and features such as - swimming pool with a deck, music room, children’s play area, electronic gaming room, library, multi-purpose lawn, cricket pitch, senior citizens’ corner, urban farming zone, adventure climbing wall and pocket garden and pre-fitted Eureka Forbes air and water purifiers, amongst others.
Shapoorji Pallonji BKC 28
Shapoorji Pallonji BKC 28 is an invitation to take the pedestal and turn the aspiration of an elevated lifestyle into reality. It is an address that enriches and adds excitement to your life, with you and your family at the heart of it all. It is set near Mumbai’s biggest and most prominent Central Business District - BKC. Infrastructure upgrades like the upcoming underground metro line in its proximity are unlocking opportunities and value while enhancing the lifestyle quotient of this luxurious residential development. Premium 2 BHK homes are available at BKC 28 (Bandra, East) starting from ₹1.99 Cr. + Taxes.