Bangalore: Are you eyeing to invest or planning to buy a ready-to-move-in apartment in the recent future in Bangalore? Whitefield in eastern part of the city offers maximum options. According to Magicbricks data, the area will see a delivery of over 40 projects in the next two to three years. Currently, these projects are under different stages of construction and most of them are slated to be delivered in the next two years i.e. by the end of 2016.
What is on offer?
These projects have something to suit every budget. Starting from Rs 24 lakh, the projects here range as high as Rs 2-2.5 crore and above comprising of 1- 4BHK units. While, 1BHK units are available in sizes of 450-750 sq ft, 2BHKs are within 950-1500 sq ft and 3BHK units have sizes of 1200-2000 sq ft. For those looking for spacious apartments, 4BHK units area also available within 2000-4500 sq ft area.
Along with basic amenities such as 24 hour security and power back-up and lifts, most of the projects also offer facilities of rain water harvesting, club house, swimming pool, gymnasium, park, reserved parking, private terrace/garden, vaastu compliance, service/goods lift, visitor parking, internet/Wi-Fi connectivity and banquet hall.
Connectivity, IT presence, social and civic infrastructure, links to important commercial centres and the upcoming metro connectivity, the locality has all. The area enjoys accessibility through the Outer Ring Road (ORR) and the Old Airport Road connecting to Varthur. It also offers regular bus services by the Bangalore Metropolitan Transport Corporation (BMTC) that connects it to other parts of the city. Connectivity was one of the key factors that led to Whitefield developing as an IT hub.
“In the last 7-8 years, Whitefield has come a long way in regard to real estate development. Many renowned developers who had bought land in the past started their projects about 3-4 years ago. With the presence of IT companies, there is a constant demand for housing, resulting in a robust capital and rental market,” says, M Sanjeev Kundar of Rich Sources Realtors Private Limited, a local real estate consultant working for over 10 years in the area.
“In the last two years, the area has seen about 20-25 per cent increase in capital values,” says Kundar. The data with Magicbricks also shows that the area has seen a consistent rise of 10-12 per cent in the last two-three years. Thus, indicating a good investment opportunity for those looking to buy here.
For those looking at Whitefield for earning rental returns, they can easily fetch Rs 20,000-35,000 for 2 and 3BHK unit monthly. In terms of social infrastructure, the area is well-equipped. “Whitefield is well connected by trains, buses and public transport. Ample schools, banks, ATMs and hospitals are also available nearby. Malls such as Forum Value Mall, In-orbit Mall and new launched Phoenix Market City are also closeby,” says Rasik G of Nest Realtors, a local real estate agent says.
The upcoming infrastructure such as Metro line extending up to Whitefield, flyovers, ORR and the 8-lane Peripheral Ring Road will further enhance the connectivity of the area.
With this, it is evident that connectivity, presence of industries and IT SEZ and increasing residential demand for both renting and buying makes Whitefield one the potential investment areas of the city. Thus, those who want to invest or buy property here, think now!
Sources: Neha Nagpal, Magicbricks.com Bureau