If you are wondering whether it will be good to own an apartment in Whitefield for future and whether the return will be good if you want to the sell the property in future, go on reading the following. The growth of the city of Bangalore has been connected to the growth of IT (Information Technology) and the IT enabled services industry in Bangalore. The major parts of the city’s suburbs have been influenced by the IT sector growth and Whitefield, situated in Eastern Bangalore, has transformed radically.
In Bangalore one of the initial settlements was Whitefield, the history of which reverts to the late 1800s when the Anglo Indian and Eurasian community established it as a settlement. Whitefield went on to be charming old world until the late 1990s when the IT sector boom converted this region into one of the most preferred suburbs of Bangalore.
Investing in real estate in Whitefield is an excellent decision to make as it is one of the areas that have witnessed extremely strong demand for the last 15 years. Purchasing apartments in Whitefield is a brilliant idea too, as in this region an apartment can easily be rented out. Actually this neighborhood is best preferred for rentals by expats chiefly because it is nearer to the most important IT hubs.
The locality of Whitefield is very cosmopolitan and has numerous choices for shopping, for eating out, and for nightlife, says property sites like property.sulekha.com. There are many good schools in the vicinity and also several hospitals are being established here. A great number of big format retail outlets in the zone is another good thing about Whitefield. Besides, you can’t miss Brookefield, a high street, largely because a lot of national and international restaurants are situated there.
Whitefield has seen an infrastructure development post 2002. Two foremost 4-lane roads linking Whitefield with Bangalore have turned up. Moreover, the railway station of Whitefield is also nearby and the connectivity by bus is also superb in this section of the city. In Whitefield region, 3 huge malls have been set up together with several 5 star hotels.
The current capital values in this neighborhood vary from Rs. 3,800-4,500 per sq ft. Whitefield capital values have gone up by 32% year-on-year. In future, Whitefield will be covered by the metro project Phase 2 stage, and this will certainly move up capital values further.
Whitefield has attracted a number of investors and builders on account of the existence of good connectivity and IT parks. The region is developing at an enormous rate. A lot of dazzling and luxurious projects have been constructed here and many more to turn up. Here all the projects are vast and fascinating. Hence, observing the demand, development and rising property rates, it can be concluded that you will get huge returns in future.