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whitefield bengaluru karnataka india

Insights About whitefield bengaluru karnataka india

Whitefield Bengaluru Karnataka India

Whitefield, situated in the eastern part of Bangalore, has evolved from a serene suburb into a bustling commercial and residential center, primarily driven by the growth of the IT industry. This area has become synonymous with Bangalore’s IT hub, housing numerous technology parks and corporate campuses, attracting a large workforce and driving demand for housing and commercial spaces. Alongside its commercial development, Whitefield has witnessed extensive residential growth, offering a diverse range of housing options to accommodate its growing population.

The Rising Real Estate Star

Whitefield has undergone a dramatic transformation from being a small suburb to becoming a booming IT hub. With the introduction of metro connectivity on the horizon the real estate market in Whitefield is set to undergo major shifts. What makes Whitefield a rising star?

Price Trend in whitefield bengaluru karnataka india:

In 2023, with the introduction of the metro, there was a significant jump in property prices to Rs.9,300. The positive momentum continued into 2024, reaching a price of Rs10,200. The introduction of the metro appears to have had a substantial impact on the real estate market, leading to a notable increase in property prices in 2024.

 

According to insights from The Hindu, Whitefield is poised for a significant 10% surge in office rental prices due to escalating demand in the area. The ongoing progress of the metro extension has notably boosted property values, setting Whitefield apart from other regions in Bangalore. This upward trend is projected to persist as the completion date approaches, highlighting Whitefield’s growing prominence in the city’s real estate landscape.

Whitefield micro market has accounted for approximately 20% of the residential supply in East Bengaluru. About 44% of residential units launched in Whitefield are ready-to-move-in, while the remaining are under construction, with completion timelines extending to a year or more.

In Whitefield, 29% of properties are ready to move in, with the remaining 71% still under construction, reflecting ongoing development and expansion in the area.

In Whitefield, the supply of properties varies across different budget segments. There is a wide range of options available catering to various budget constraints, from affordable to luxury segments.

Flat Price Appreciation

Over the past year, property prices in Whitefield have surged by 24%, with even more significant increases of 55% over the last three years and 52% over the last five years, indicating sustained growth and making it an attractive real estate investment destination.

Plot Price Appreciation:

The plot price appreciation in Whitefield over the last 1 year has been 14%, over the last 3 years it has been 105%, and over the last 5 years, it has increased by 116%. This suggests a steady growth trend in property values in the Whitefield area, making it an attractive location for real estate investment.

CONCLUSION:

Whitefield, a suburb in eastern Bangalore, has transformed into a bustling IT hub and residential hotspot. Initially known for its tranquility, it’s now dubbed the “Silicon Valley of Bangalore” due to its concentration of IT companies. The area has seen rapid development with a surge in residential complexes and commercial establishments. However, infrastructure challenges like traffic congestion persist. Despite this, Whitefield remains attractive for its modern amenities, connectivity, and green spaces. Balancing growth with infrastructure improvements will be key to sustaining its status as a vibrant urban center in Bangalore.Whitefield is a historic town known for its blend of tradition and modernity. Originally a quaint village, it has evolved into a bustling suburb with a vibrant community. The town retains its charm with colonial-era architecture, while also embracing development through tech parks and residential complexes. Whitefield’s transformation is marked by its robust infrastructure, diverse population, and cultural richness. It stands as a testament to urban growth, balancing progress with heritage, making it a unique and dynamic part of its region.

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