Whitefield, the investment hotspot of Bengaluru

Whitefield is a locality that had gained prominence long back with the presence of many multinationals and IT parks. ITPL is one of the large IT parks present in the area. Whitefield is perhaps one of the places with the highest concentration of IT, ITeS and multinationals perennially creating the demand for jobs. People from all parts of India come for treatment in Sai Baba hospital in Whitefield and the area has grown in respect of social infrastructure with simultaneous increase in the residential population in the last one and a half decade. There are a few educational institutions too that are being targeted by students all over India and even abroad. All these factors are responsible for the surge in demand of real estate properties and even rent in the area. A stroll in the area in one of the week days will make one feel that the area is in demand and one would gain on investing in Whitefield real estate.

Apart from the above reasons there are a considerable number of people who are being transferred in the offices of the adjoining areas from different parts of India and the world too. The corporates have also started investing in apartments, row houses and villas for their officials. The immigrants from other parts of India also value the place as a good investment option as many are having a good income and find it pointless in paying rent and instead pay the EMIs for their own apartments. Thus developers of all segments be it for Low Income Group (LIG), Middle Income Group (MIG), or the High Income Group (HIG) are seen to develop different buildings and apartments for different group of customers segments.

The data from various sources suggest that Whitefield in East Bengaluru offers maximum number of residential units for sale and has been ranked in the top ten localities of Bengaluru in the preference list.

Let’s explore the options available in the area.

If you browse the aggregator sites you will find many renowned developers offering apartments in Whitefield with options from one to four BHK apartments with scheduled possession by the year 2015 or at the latest by 2017.

Another striking feature that one would note is that the area offers ready-to-move-in apartments too and in considerable quantity which are priced in the range of Rs. 35 to Rs. 55 lakhs. The area is well distributed will all kinds of amenities and facilities and many IT multinationals like HCL, IBM, Tesco, TCS, GE , Societe Generale, Accenture and Sap labs are present in the area. The residents opine that there are plenty of choices in terms of recreation hangouts or even the social infrastructure is quite adequate with many malls, supermarkets, banks, schools, colleges and theatres.

Communication Facility

As far as connectivity with Bengaluru is concerned, Whitefield is accessible through two of the major four lane roads namely HAL, Old Airport Road via Marathahalli and secondly through Mahadevpura. Both these routes intersect with State Highways of Karnataka (SH 35) and further is connected to Anekal in the South and Siddlaghatta in the North. The International Airport is about 45 to 50 km away from Whitefield and is connected through the State Highways, SH 104 and SH 207.  Apart from this the Whitefield railway station is another advantage of the area which gives easy access to the city.

So with all these facilities and the higher echelons of the customer segment of Bengaluru real estate market increasingly demanding the area, lot of luxury apartments are being constructed. The logic of the customers of the uber-luxury apartments are that after a tiring day of 10 to 12 hours of work one would ask for a place where there is social life which is not far away. Another strong point is that this class always wants to remain aloof from the crowd but at the same time connectivity is one of the demanding criteria. In all these respects the area is highly suitable which makes the place both resident and investment friendly. Apart from the uber-luxury apartment seekers the office space absorption and the immigration of retail and commercial spaces are also on the rise. With this given situation the intelligent investors certainly consider Whitefield as a hot spot.

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