6 Things You Should Know About Bengaluru's Whitefield
Bengaluru is known to have been attracting the young generation from all over the country, given its flourishing IT and ITeS sector. Home to leading global companies, certain areas in the city have seen a complete transformation driven by the IT boom here. Some of these areas stand out and one of them is Whitefield. This locality has witnessed a complete makeover in past few years. Understanding the popularity of this locality, PropGuide list six facts about property in Whitefield.
- Whitefield was a quaint suburb until the beginning of the new millennium. As we entered the new millennium, Bengaluru saw an IT boom that changed the affairs here and was transformed into a budding IT hub from just being a quiet and reclusive retirement option. Whitefield emerged as one of the leading IT hubs in the city.
- Whitefield is not just one of the leading IT hubs in Bengaluru but also across Asia. It houses a large number of industries, malls, IT parks, international schools, and several residential projects to cater to the demands in this locality.
- Home buyers are presented with a various types of residential projects available at different price points. This wide variety is driven by the constant demand for real estate in the area. Buyers also find the gated communities, high-end luxury apartments and beautiful villas a big draw to this area. While most of the projects here have seen an annual appreciation of 11-14 per cent, there are some projects that offer luxury features and high-end amenities that have shown a return even higher than the average.
- According to a survey conducted by Whitefield Export Promotion Park Industrial Association (WEPPIA), Whitefield sees traffic of more than three lakh people travelling to the IT hub, everyday. This count is not taking into consideration the workforce of the manufacturing and textile industries. To address the connectivity issue rising from this huge traffic, citizens have come up with initiative including the use of Mainline Electric Multiple Unit (MEMU) trains and extension of the train services to other adjoining areas. This will not only make commuting easier but also increase the value of properties around the stations.
- Whitefield is among one of the few areas in Bengaluru to have seen such a rapid development. Though comparatively the infrastructure has not been developed significantly enough to match the growth, the Karnataka government for the first time is allocating special funds and resources for developing infrastructure here.
- Whitefield's micro-market has gradually transformed into a standalone microcosm with all the facilities and social infrastructure in place to support life here. There are schools of international repute, fine medical service providers, variety of residential projects offered by reputed developers and much more. There are at least five malls that cater to the requirements of the people here.
If you are looking to buy a home in Bengaluru, experts suggest looking towards Whitefield for a promising future.