Exquisite, strikingly innovative, Whitefield holds a sequel very much in order. It may be the sequel of its strategic location, established IT hubs, excellent social infrastructure, great transportation or connectivity, high rental yields, cosmopolitan culture, and diverse community. The region makes itself familiar to the various families of citizens across India and the globe.
As per the market data, Whitefield had a population of 186768, where the male population is 97704 and the female population is 89064, respectively. This article will discuss what makes this area a promising heaven in the eyes of its residents and NRIs.
The locality holds many IT and MNC companies that promise to push its citizens to maximize their reach or potential and build bright careers. International Tech Park (ITPB) Export Promotion Industrial Park transformed the region. Many MNCs like Airbus, Bosch, Intel, Microsoft, and Oracle place themselves here. As per the market data, the number of people working in the Whitefield area, belonging to the industrial and service sectors, is estimated to be 4 lakhs. As per the employment statistics, this region holds 1,439 entrepreneurs (9.26% of the workforce), 10,341 workers employed in private companies (66.56%), and 2,359 people working in governmental institutions (15.18%). As per the data of Moneycontrol, Whitefield, the second-largest office market in Bengaluru, holds office stock of about 40.4 million sq ft, inevitably responsible for the growth of millennials and the residential real estate market in this locality.
With the presence of IT hubs and MNCs, the neighbourhood of Bangalore is solving the issues of business and industry development. The presence of MNCs creates changes like the changing global marketplace, communication technology, the shifting zone of the battlefield of talent, and corporate accountability.
The terrain bestows its residents an excellent infrastructure, well-connected roads (SH 35 is the particularly busy and densely trafficked roads connecting areas like Hoskote to ITPL, Whitefield, and Attibele.), and flyovers that truly enhance connectivity and convenience of its residence. As per data, the government has allocated Rs 2500 crore in the recently presented state budget for ongoing Namma Metro extension projectsthat further enhance the area's transportation. Apart from this, this region holds an excellent social infrastructure with lots of schools, colleges, hospitals, shopping malls, etc., providing the necessities of its diverse citizens at their convenience.
Infrastructure provides vital support services for agricultural and industrial production, domestic and foreign trade, and commerce. It contributes to the economic development of a locality or even a country after increasing the productivity of the factors of production as well as improving the quality of life of its people.
According to a Bangalore real estate market report, 28,500 new residential units have moved into this area in the last five years because of its reasonable future growth projections. Due to the metro impact, Whitefield may witness 8-10% rental growth in 2 years, and the market has seen a 12.7% property appraisal in a year. 80-85% of new housing launches were considered in 2015, which got a little backlog after the RERA and GST implementation. The growth is enhancing again as the Peripheral Ring Road is on its way, providing developers the reliance to launch new residential projects in this territory.Property rates in this region have had a 20.34% rise in the last one year. This area is predicted to have huge potential in the next 5 to 10 years following the market penetration, development, and real estate product development strategy.
This article explores Whitefield, which was once established as an Anglo-Indian village. Drawn from reality, it transforms and translates, and today, millennials across India are searching for a flats for rent in Whitefield For any housing or real estate information inquiries, kindly email us at [email protected]. We will definitely help you.
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