Growth is the keyword

Growth is the keyword

Growth is the keyword

With major residential projects coming up in West Bangalore, the region is all set to play a significant part in the real estate market, writes Prashanth G N.

The significance of West Bangalore in real estate has just risen by a few points with the commissioning of two major residential projects in Binnypet — Sobha Developers, earlier and Shapoorji Pallonji now. While this development cannot yet be termed as a trend, the two projects are a sign that developers are not averse to looking at property development in West Bangalore. 

Traditionally, high property development occurs in south, east and north of Bangalore owing to the strong IT belt. Rajajinagar has no such corridor, having grown with traditional industries. Rajajinagar will now step outside its own shadow, courtesy the rise of luxury living in its heart.

Sobha is developing what it calls the Sobha Indraprastha and Sobha City at Binnypet, adjacent to Magadi Road and close to the City Railway Station and Rajajinagar Bhasyam Circle. 

The project is a mix of residential and commercial complexes. The apartment blocks will be 37 floors high, one of the tallest projects in Bangalore. The Sobha City will also have a multiplex, hypermarket, restaurants, entertainment centre and food courts. Overall, it is a luxury offering in the heart of the city, close to both Central and West Bangalore. It covers an area of 9.37 acres, with 40 percent built-up area.

Big projects

Nearly 356 super luxury apartments and duplex penthouses are on offer. With the metro link just by the side on Magadi Road, connectivity is not an issue. Similar conditions prevail for the Shapoorji Pallonji residential project at Binnypet although the land space is far higher. The project is spread over 47 acres and will have 18 floors each. It is a luxury offering ranging from 2BHK to 3BHK and penthouses.

Old timers in Rajajinagar, Chamarajpet and Magadi Road are shocked by the huge scale of the project. Prasad R, a long-time resident of Rajajinagar and Vijayanagar, says he has seen the Binny Mills grounds from childhood. “I can only think of it as a vast playground, never expecting any building to come up. People have been playing cricket for years at the Binny Mills grounds. But things change and we will soon witness the transformation of a public playground into a luxury playfield.”

Deepak K R, an IT professional, has a different view. “I understand that a multiplex will be coming up here, apart from a supermarket and other retail stores. The multiplex will be a runaway hit, being built in a strong retail ambience.”

“Families now have only Mantri Mall to go to, but once the new project is ready, they will flock to it, because it’s very near for the residents of interior Rajajinagar. And wherever there are goodies offered, people will lap it up.”

Traditional or modern?

Ramesh B, a teacher who lives at Gandhi Bazaar, close to the project, says people of the area will have two options to choose from — Jayanagar or Rajajinagar. 

Traditionally, people have been going to Jayanagar, but with a new hub coming with multiplexes and supermarkets, it would be a recipe for wholesome entertainment.The trickle-down effect these projects may have is development of land close to Basaveshwaranagar, KHB Colony and close to Sunkadakatte, which has now seen its major apartment project, close to the Ring Road. 

The Binnypet projects are expected to spur developers into using the last tracts of land available behind Basaveshwaranagar for various retail and real estate projects. Presently, people from the area would head to Orion Mall, close to Iskcon and Yeshwantpur. There may be issues of overkill, but when residents get entertainment spaces that are easily accessible, they make a choice for the newer ones. 

Modern spaces

In a sense, the Binnypet projects have indicated that West Bangalore is no longer only the sleepy, lazy, neighbourhood filled with communities. 

Just as people move beyond Rajajinagar and Vijayanagar, they will see in a 100 acre setting, high towers jutting out into the sky, where no one imagined that one day a decrepit ground would change the way it has. And on top of that, luxury settings, not the middle-class salaried homes we usually encounter. 

There are large parcels of land near a lake in Basaveshwaranagar. It has remained the way it is for almost 20 to 30 years. This isn’t the case with South and East Bangalore where major lakes like Chikkasandra are under threat from development.

The face of mainstream Rajajinagar and Magadi Road will see a transformation people wouldn’t expect. The question on everybody’s lips is how come flats costing Rs 88 lakh to 4 crore can come up in an area where slums abound. 

Developers say there isn’t a choice in India, and that other metros too face similar issues. 

It remains to be seen how the projects will be perceived by residents who are said to have already made a bid for both sets of properties.