Bangalore real estate, Whitefield is one such locality that stands out from all other localities. Being the nerve center of the city’s IT sector, Whitefield has always attracted young professionals. With good infrastructure and all civic amenities already in place, this central locality is one of the most developed areas in the city. Whitefield emerged as the top investment residential destination across the seven major cities. Being a prominent IT hub of Bangalore, the micro market has seen decent number of new launches across segments – affordable, mid and luxury. Once the IT Park was built, more population started moving in to live closer to work and thus led to further infrastructural development. Two of the major four lanes roads connecting Whitefield to Bangalore were built to shorten the commute time and improve connectivity. Whitefield road via Mahadevapura and Varthur road otherwise known as the old airport road via Marathahalli are the two prime roads. Whitefield is extensively connected with the Bangalore Metropolitan Transport Corporation (BMTC) buses. With ample frequency of buses the public transportation is very good in this area. This creates a positive impact on the commercial real estate market here thus encouraging developers to build more to cater to the additional demand for residential property.
Whitefield is well connected to different parts of Bengaluru. Whitefield road and Varthur Road (HAL Old Airport Road) makes commuting easier for the residents. These two roads meet with Karnataka State Highway 35 (SH 35). Whitefield Railway Station is easily accessible. Being the center of all commercial activities, the locality houses the most popular shopping malls of the city namely the Inorbit Mall, Park Square Mall and Phoenix Market City. Super-specialty hospitals and educational institutions offering international level of academics can be found in Whitefield. Parks, recreation centers, gaming lounges and nightclubs are also in abundance.
Whitefield is already a highly sought-after destination in Bangalore and it is still rising as a hot locality to invest in. The proximity to commercial areas and a well-developed social infrastructure are the two main attractions of this location. People who invested during the initial stages of development have made tremendously high profit on their investment. Looking at these market statistics many buyers are now coming forward to invest on apartments in Whitefield that may yield good rental returns because of the immigrant IT population present here. During the early days in development of Whitefield, because of the availability of the land, developers invested in building luxury villas in Whitefield and now with the current development and sudden influx of population the resale of these villas are also yielding a good return on investment. While there has been only a marginal increase in rental and capital values in last one year, there has been a decent 20 per cent rise in the gross rental yield form the previous year. At present, Whitefield boasts of about 42 per cent new supply in the affordable segment, followed by 35 and 23 per cent in mid and luxury segment respectively.