Whitefield wasn’t always the bustling commercial hub it is now. In fact, back in 1930, the area’s total population was only 130! It was considered one of the outermost suburbs of Bangalore and was mostly an expanse of empty land. The Whitefield of today, however, bears almost no resemblance to the Whitefield of just a few decades ago. The main catalyst for this transformation was the setting up of ITPL, one of Bangalore’s first tech parks, right in the heart of Whitefield. Today, it is one of the most exciting localities in Bangalore, with IT parks, restaurants and premium residential projects almost everywhere you look. If you are planning on buying a home for the first time, here’s why Whitefield should top your list.
Whitefield is at the heart of Bangalore’s IT boom. The steady influx of investments pouring in has made it one of the fastest growing areas in Bangalore. It is home to some of the biggest tech parks in the city such as ITPL, Salarpuria G R, Sigma Soft Tech and more. Many of the world’s biggest corporations like IBM, Mphasis and SAP Labs have opened up their offices in Whitefield, leading to thousands of jobs. People from across the country have moved here for work and it also has one of the biggest expat populations in the country. These factors have made Whitefield a melting pot of cultures and one of the most cosmopolitan localities in the investor’s paradise of Bangalore.
In order to keep up with its growing population, Whitefield’s infrastructure has been improving by leaps and bounds. Despite being in the suburban part of Bangalore, the locality enjoys easy connectivity to almost every important area of the city. Whitefield Road from Krishnarajapuram and Whitefield Main Road from Varthur are two of the biggest arterial roads here. Whitefield also has its own railway station from which suburban electrical trains run to several key areas of the city. But the biggest advancement in its connectivity is the launch of Phase 2 of the Namma Metro project. With the metro, people will be able to travel to and from Whitefield with ease in a fraction of the time it would otherwise take.
Residents of Whitefield can enjoy an incredible quality of life due to the number of amenities available here. The social infrastructure has developed at a rapid pace, making it an ideal locality for people of all ages. Cloudnine Clinic and the highly-reputed Columbia Asia Hospital provide state-of-the-art medical care to residents. Whitefield is also the perfect location for families as it has a number of prestigious schools in the area. Schools like Ryan International and Whitefield Global ensure that your child receives a world-class education. Whitefield also has a number of recreational opportunities like malls, multiplexes and restaurants. This is why it’s often considered a microcosm of Bangalore.
The number of offices opening in Whitefield has led to an explosion in the number of people moving here. This has also led to the demand for quality residential accommodation, which has caused real estate prices in the locality to soar. A number of reputed developers have launched premium residential projects in Whitefield. As this area is still under development, property prices here are lower than they are in many other parts of the city. Because of this, potential homebuyers can find spacious houses here that fit their budget. With affordable housing becoming the future of the real estate segment, property in Whitefield will become even more attractive.
From an investment standpoint, Whitefield is one of the best areas in Bangalore to buy real estate. Both in the short term as well as in the long term, your property here is certain to bring steady returns. Thanks to the high demand for housing, finding tenants is very easy. This means you can earn second income through rent even if you don’t plan on living in your new home immediately.
In the long term as well, real estate investments in Whitefield are a very lucrative option. The real estate prices in Whitefield might be comparatively low now, but they are unlikely to stay this way for long. As investments continue to pour in and Whitefield’s infrastructure improves, the value of real estate will increase. The completion of the metro will also have a major impact on Whitefield’s real estate as this area will become even more connected. This means that by investing in Whitefield now, you can gain huge returns on your investment.
Whitefield is one of the fastest growing real estate markets in Bangalore. Find your dream home in Whitefield with Shriram Properties.