Bangalore's Whitefield – An emerging real estate hub

The housing demand in Bangalore remained robust in the first quarter of 2015, with home sales showing up in high numbers and housing inventory falling to a lower number. Several micro markets in and around Bangalore are witnessing strong home sales this year making Bangalore take up the first positon in the real estate survey.  Though home sales picked up in the beginning of this years in slower pace, it has now starter to acquire a new momentum with many builders offering affordable houses in a small sized unit in the outskirts of the city. For those of you who are looking to buy a flat in Bangalore, this is high time to invest in areas such as Whitefield, Sarjapur Road, Electronic City and other areas around the IT corridor.

Whitefield, situated in the eastern part of Bangalore was just like a usual suburb of Bangalore until IT companies started to open their campuses here few years back. The main driving force of real estate in Whitefield is the IT corridor. This little micro market has now evolved itself into a major suburb with a lot of developed and developing infrastructure, job opportunities from IT companies, easy connectivity, and more. The real estate in Whitefield thrives well mainly due to IT population, who show a great interest in buying apartments for sale in this locality.

The major factor luring investors and buyers alike to real estate in Whitefield is the presence of several industries and IT companies in vicinity. Most people prefer Whitefield for its rapid development as a city and it social and physical infrastructure. It has a big mall, well-known restaurants, shopping centres, reputed educational institutions, multispecialty hospitals and much more to make people buy a flat in Whitefield. All these facilities make Whitefield an emerging real estate hub in Bangalore.

Not just known for residential properties, but it has equal demand for commercial properties as well. It has well-designed, international standard commercial space paving way for high office space absorption rate. But all these advantages of Whitefield have only helped in luring investors and home buyers towards it but did not increase the property prices to any unrealistic numbers. The prices of property in Whitefield are cheaper helping builders to buy and launch new residential projects at a rapid speed.

Not just developers and builders, but potential buyers also show interest in buying land here it offers high return of interest in near future. The prices of residential land in Whitefield have witnessed a four times growth in just 10 years of time. So people expect the same or even higher appreciation rate in future as well.

Turning from a small usual suburban area to a well-developed, most sought-after city, Whitefield has evolved itself with several new developmental projects. But even Whitefield has a small con on its traffic congestion, which will also be soon resolved with plans from the Karnataka police. Also the proposed Export Promotion Industrial Park by the Karnataka government is also expected to turn Whitefield into a most sought-after real estate market.