Bangalore is among the many Indian cities that witnessed a speedy transformation in recent times, thanks to the IT boom in the country. The IT industry continues to attract a torrential inflow of young, working population to the city. To accommodate this ever-growing population of young professionals, newer and grander real estate ventures are burgeoning across the span of Bangalore.
Out of the many areas that witnessed real estate development in recent times, Whitefield stands out noticeably. If you are planning to purchase property in this part of the city, this article is for you. In this article, let us take a look at a list of reasons why buying property in Whitefield is a good idea.
1. Proximity to leading IT companies:
Whitefield proudly stands as one of the leading IT hubs in all of Asia. The suburb houses major IT companies like Intel, IBM, Wipro, KPMG, etc. In addition to IT companies and tech parks, Whitefield also has a number of other industries, shopping malls, and international schools.It is due to this proximity to important workspaces that various residential projects take birth in the locality, every day. Be it luxurious villas or humble apartments, builders and developers in Bangalore are coming up with new projects to cater to all residential needs.
2. Adequate infrastructure:
This part of the city is rapidly progressing into a self-sufficient community with advanced social infrastructure. Whitefield houses some of city’s finest multi-speciality hospitals, international schools, restaurants and shopping malls.
3. Well-built transport facilities:
Due to the number of industries and residential complexes, Whitefield is thickly populated. This calls for good-quality public transportation facilities that connect the place internally and to other parts of the city.
This problem of transportation is sure to be well-addressed with the metro rail line ‘Namma Metro’ extending into this part of the city in its second phase. In addition to this, other infrastructural facilities like flyovers, outer ring road, and peripheral ring road, also connect Whitefield to other major roads of Bangalore.
4. Major commercial hotspot:
Crowded with a population of young, upper-middle-class IT professionals, Whitefield is also a major commercial hub. It houses a number of shopping malls, restaurants, and recreation centers like Brookfield, Park Square, Forum Value Mall, Inorbit Mall, Market City, etc.
5. Appreciation in property value:
Whitefield enjoys a growing demand for both commercial and residential real estate property. The advanced social and retail infrastructure, and its proximity to important IT companies, all contribute to a steady annual appreciation of 11-14% in the property value at Whitefield.
Though every investment comes with its own set of pros and cons, real estate gurus predict that pros outweigh cons in the case of real estate projects at Whitefield. If you are still confused about your next property purchase, we suggest you give Whitefield the benefit of doubt.
If you already own property at Whitefield, we’d love to hear about your experience in the comments below.