Moneycontrol Area Watch | Why IT hub Whitefield is the most sought after locality in Bengaluru

International Tech Park Bangalore. Whitefield is one of the most sought-after localities for home buying, thanks to its proximity to IT hubs and business centres.(Image via Wikimedia Commons 3.0)

Bengaluru is known as India’s technology capital or Silicon Valley of India. Within Bengaluru, Whitefield is one of the most sought-after localities for home buying, thanks to its proximity to IT hubs and business centres.

This well-developed micro-market in the eastern periphery of Bengaluru city has good road connectivity with other parts of the city and also has its own railway station. Bengaluru East and Bengaluru Cantt railway station are about 10 km. The area also has a good bus service by BMTC (Bangalore Metropolitan Transport Corporation).

Other major micro-markets from the homebuyers' perspective in this area which compete with Whitefield are Varthur, Bagaluru, Krishnarajapuram, and Begur.

While this micro-market boasts of all the necessary amenities and connectivity, homebuyers must remain prepared to deal with traffic. Like the rest of city, the traffic here too can be  a headache for commuters.

However, the upcoming metro-rail connectivity is expected to bring in much-needed relief. The BMRCL (Bangalore Metro Rail Corporation) plans to open the extended Purple Line from Baiyappanahalli to Whitefield by end of 2022, thus easing the movement of lakhs of residents employed in tech parks in Whitefield. The line has 13 stations on a stretch of 15 km.

Like other major localities of India, residents of this area too have to deal with poor air quality.

There are many prominent developers in the area offering 1, 2, 3, and 4 BHK apartments in the price range of Rs 5,900 - Rs 7,200 per sq. ft.

The suburb is well-connected through major road networks of the Outer Ring Road and Old Madras Road. The metro rail connectivity only enhances its selling point.

Whitefield is about 44 km from the airport. The nearest railway station is just 3 km away. NH-44 is also not far.

This area is preferred by people who work in the IT sector; rentals properties are also in demand.

The growth story of this micro-market started in the late 1990s as the country witnessed the IT boom. Whitefield, which was once a settlement for the Eurasians and Anglo Indians of Bengaluru, houses several residential, commercial and business complexes.

The area started getting traction among developers and homebuyers in the later part of the 1990s.

Experts and reports by property consultants stress that Whitefield has consistently rated high on livability factor by localities, mainly due its connectivity and cleanliness.

As per a PropTiger Research report, 1,260 units were sold in Whitefield during January-September 2021, in the price range of Rs 6,400 - 6,600 per sq. ft. Prices were up nearly 12 per cent year-on-year.

BENGALURU REALTY MARKET

A recent PropTiger.com report said that during January-September 2021, housing sales in the IT city fell marginally to 15,569 units from 15,798 units during the corresponding period of the previous year.

New supply in Bengaluru rose to 12,015 units during January-September from 11,689 units in the year-ago period.

MAJOR DEVELOPERS IN WHITEFIELD

Major developers include Sobha Limited, Prestige Group, Sowparnika Projects, Provident Housing, Vaswani Group, Shriram Group, Godrej Properties, Divya Shree, and Brigade. There are plenty options from these developers to choose from in both near completion and under-construction projects.

PHYSICAL INFRASTRUCTURE

Whitefield Main Road, SH-35, Old Airport Road, and Whitefield Railway Station joins this residential hub with other parts of the city.

As per reports, it will soon get metro rail connectivity with the extension of Purple Line with 13 stations from Baiyappanahalli to Whitefield, under Phase 2 of Namma Metro.

SOCIAL INFRASTRUCTURE

Whitefield is a well-developed micro-market in Bengaluru. It has a large number of reputed schools, colleges, hospitals, and shopping areas. The malls here include Inorbit Mall, The Forum Neighbourhood Mall, and Ascendas Park Square.

This area also boasts of good hotels, as several big names in the hospitality sector are present here. Another major plus point of the area is the presence of a large number of good restaurants and eateries.

EMPLOYMENT HUBS IN THE VICINITY
There are IT Parks within the locality as well as along the IT corridor of Outer Ring Road. Many of the residents of Whitefield work in the nearby technology parks, including Sigma Tech Park, EPIP Zone, International Tech Park, and GR Tech Park, in the vicinity.

PRICES

The price of an apartment depends upon the location of the residential project and facilities being offered by the developer. A Windsor (Phase I, II & III) apartment by Sobha Limited could be owned for Rs 6,900-7,100 per sq. ft. One can look for 2, 3 & 4 BHK here.

3 and 4 BHK apartments in Waterford by Prestige Group may be owned for Rs 6,700-6,900 per sq. ft.

Homebuyers have the option to own 1, 2, and 3 BHK in Ashiyana Phase II by Sowparnika Projects. The price range is Rs 5,900-6,100 per sq.ft. (Source: PropTiger Research.)