Whitefield and its rental market

Located in East Bangalore, Whitefield is an early Eurasian settlement that has always been known for its lush greenery, perfectly aligned trees and residential apartments. It comes under the purview of the Bruhat Bangalore Maha Nagara Palike (BBMP). Whitefield is one of the most prominent IT hubs in the state of Karnataka for a long time now. Several developers and builders of Bangalore have invested in Whitefield, boasting of big, spacious and world-class apartments. It boasts of zero pollution, good connectivity and efficient proximity to workplaces, which makes it an ideal option for investment. Presently one of the most sought-after localities, this suburb enjoys excellent connectivity to other parts of the city via metro. Whitefield as a micro-market has developed into a self-sustaining area. Along with being an IT destination, this area has good social infrastructure and developing physical infrastructure. Hence, the demand for luxury residential developments remains high.  The constant demand of properties in this area has also caused a surge in demand for rental market.

Whitefield is one of the most sought after residential and commercial rental markets in Bangalore. Situated on the Bangalore-Chennai route, the Whitefield Railway Station is about 3 km north of the Whitefield bus stop. The railway is double and electrified, and a quadruple line project for the Krishanrajapuram-Whitefield section of the railway has been proposed. Providing enhanced connectivity will be the Whitefield-Kolar Line which is slated to make the station a junction soon. The major trains to Whitefield depart from only Bangalore City Junction. Bangalore International Airport is the closest airport to Whitefield, at a distance of 50 km. The expatriate population of Whitefield is considerably high, and owes to the rapid growth of IT/ITeS offices, rapid economic and commercial development in the area. This has led to a strong demand for residential developments in the micro market specifically for the middle and upper middle level income groups. The rental market of Whitefield is also majorly driven by there expatriate population who choose to rent luxurious and state of the art modern bunglows and apartments as against owning them to provide them with the ease of being mobile and flexible.

Being a self sustained suburbs with malls and shopping, entertainment, medical facility and educational facility all available within one area has helped Whitefield crawl up the growth chart. Fully furnished apartments for rent in Bangalore are the most preferred in Whitefield market as they come with less maintenance work and gives you all the luxuries like owning a home. The house rent in Bangalore for an average 2 bhk apartment start at a whooping Rs 20,000 per month and can go upto a 60,000 for a fully furnished apartments, depending on the newness and the type of furnishing done there. This locality will definitely see significant growth and ROI, and investors are likely to enjoy between 8 to 10 per cent returns. This makes Whitefield a perfect renter‘s choice, while also giving the luxuries of a center city feel.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s