Whitefield all Set to have 40 New Projects by End of 2016

Finding a ready to occupy home in a city like Bangalore might be a daunting task and if you are hunting for a home in the new urban side of the city, the chances get even dimmer. Worry not, there is one particular locality that is abuzz with many construction activities and has over 40 new projects entering the arena. The ever growing housing demand in Whitefield has lured many reputed real estate developers and builders to purchase land in large parcels to build world class flats for sale in Bangalore that meet the needs and demands of every cosmopolitan crowd. All these 40 projects are currently at its nascent stages and are citied to be finished by 2016.

Currently the neighbourhood’s market offers dwelling spaces that range from being affordable to uber luxurious. The realty market is engaging many MIGs (Middle Income Group individuals) by offering homes as low as Rs 25 lakhs. Flats for sale in Whitefield are also luring many HNIs (High Net-worth individuals). Housing units that spread over 4 BHK are expected to cost anywhere between Rs 1.5 crore to Rs 2 crores.

Wooing potential property seekers with its state of the art amenities and facilities, builders are leaving no stone unturned in providing its resident a safe and secured environment. Amenities like round the clock security, private garden space and private swimming pool engage many home buyers due to its privatness. The influx of housing demand is increasing day by day which is thereby pushing property prices upwards. In a span of just two years, capital values of apartments in Whitefield have appreciated over 27%. According to current market trends, the per square feet rate for homes here hover anywhere between Rs 3,600 and Rs 4,300.

Being an IT hub, the vicinity enjoys all the basic civic amenities and has developed into becoming a self sufficient micro market. Seamless connectivity is another factor that has flourished the locality’s realty sector. The presence of major connectors like Whitefield Road and HAL Old Airport Road (Varthur Road) have enticed many white collared professionals from neighbouring IT parks to invest here. Other developing infrastructural projects like the Bangalore Metro and the proposed PRR (Peripheral Ring Road) too have roped in a lot of foreign investment.

The presence of many MNCs (Multi National Companies) have attracted a fair share of floating population who are showing a keen interest in renting out spaces here. Investors and second time home buyers are now tapping into this demand and are lending out their homes so they could reap fruitful benefits. On an average a 2 BHK home here is capable of generating a rental yield of Rs 20,000 per month, making the locality a favourable destination for investors. The growing commercial belt is another factor that is pushing property prices to soar.

So if you want your hard earned money to appreciate through time, don’t think twice before investing in Whitefield. Capital values of flats for sale in Whitefield not only appreciate over time but they are also capable of generating high rental yields.

Ranjitha is a freelance writer and blogger, following the Houses for sale in Bangalore and real estate sector closely for many years.