Whitefield – Bangalore
Whitefield is one of the most prominent IT hubs in the state of Karnataka for a long time now. Several developers and builders of Bangalore have invested in Whitefield, boasting of big, spacious and world-class apartments. It boasts of zero pollution, good connectivity and efficient proximity to workplaces, which makes it an ideal option for investment. Presently one of the most sought-after localities, this suburb enjoys excellent connectivity to other parts of the city via metro.
Located in East Bangalore, Whitefield is an early Eurasian settlement that has always been known for its lush greenery, perfectly aligned trees and residential apartments. It comes under the purview of the Bruhat Bangalore Maha Nagara Palike (BBMP). Surrounding areas include Brookfield, Hoodi, Kadugodi, Varthur.
Whitefield has got good residential and commercial properties. Various shopping malls like Forum Value Mall, Phoenix Market City, Park Square Mall and Inorbit Mall reside in the Whitefield area. All kinds of commercial properties including shopping malls, IT parks, office buildings, commercial complexes, private business spaces, restaurants can be found here.
Whitefield as a micro-market has developed into a self-sustaining area. Along with being an IT destination, this area has good social infrastructure and developing physical infrastructure. Hence, the demand for luxury residential developments remains high.
Connectivity and Transit Points
The Whitefield Road via Mahadevapura and Varthur road (aka HAL Old Airport Road) via Marathahalli are the two major 4-lane roads that connect the center of the city to Whitefield. Intersecting at the Karnataka State Highway 35 (SH-35), the two roads run in the North-South direction.
Situated on the Bangalore-Chennai route, the Whitefield Railway Station is about 3 km north of the Whitefield bus stop. The railway is double and electrified, and a quadruple line project for the Krishanrajapuram-Whitefield section of the railway has been proposed. Providing enhanced connectivity will be the Whitefield-Kolar Line which is slated to make the station a junction soon.
The major trains to Whitefield depart from only Bangalore City Junction. Trains passing through the area include the Mysore-Howrah Express running from Mysore to Howrah, the Chennai Express, the Seshadri Express, the Tirupati Passenger and the Kanyakumari Express. All these trains take about 30 to 40 minutes to reach Whitefield from the City Junction.
Bangalore International Airport is the closest airport to Whitefield, at a distance of 50 km. There are also air-conditioned Volvo buses available for transport, such as the 335E, 335P and 500k, 500C, 500L etc.
Factors for Growth in the Past
Whitefield known for its technology parks, which houses several IT and ITES companies, Export Promotion Industrial Park (EPIP), and Bhoruka Tech Park. Major IT/ITES companies are Accenture, Symbian India Ltd., GE (John F. Welch Technology Center), and Wipro, iGate Global Solutions, Sapient, Manhattan Associates, SAP Labs, Perot Systems, Dell, IBM, Intel and Oracle. With state-of-the-art infrastructure and professionally managed services, Whitefield is perfectly suitable for commercial transactions.
Some of the world’s leading industries are also situated in Whitefield, the most prominent being Hindustan Lever Research Center (Unilever) and Padmini Industries. At a cost of Rs 339 crore on 10 hectares, the Special Economic Zones (SEZs) was established in Whitefield by SAN Engineering and Locomotive Ltd.
The expatriate population of Whitefield is considerably high, and owes to the rapid growth of IT/ITeS offices, rapid economic and commercial development in the area. This has led to a strong demand for residential developments in the micro market specifically for the middle and upper middle level income groups.
Residential Market Trends
This locality will definitely see significant growth and ROI, and investors are likely to enjoy between 8 to 10 per cent returns. Average apartment prices in this locality range from Rs 3000- 8000 per sq.ft. Average land prices are Rs 4000- 10000 per sq.ft.
Commercial Market Trends
Ever since the early 2000s, Whitefield has emerged as a major IT/ITeS hub, housing more than 400 companies in the likes of Oracle, SAP, TCS, Cap Gemini, HUL, Aviva, 24/7, HCL Perot Systems, Intel, Wipro.
Factors for Growth in the Future
Being a self-sustaining suburb, Whitefield has a multitude of residential projects, modern-format retail malls, hotels and other social infrastructure. The area can be easily reached from any part of the city via two stretches in KR Puram and Marathalli. A corridor has been proposed for the Metro, which will be 18 km long and is expected to get completed by 2017-18. With the increasing demand for office and retail spaces, there is an increase in residential settlements as well, and Whitefield has strong economic growth overall. Significant improvements in travel time are expected to be seen by 2015, when the Bangalore Metro Rail Project and proposed Peripheral Ring Road (PRR) Phase I are completed.
Godrej Properties Limited, the real estate arm of the Godrej Group has entered into a Development Management Agreement with M/s United Oxygen Company Private Limited, to develop their property situated near Hoody, Whitefield Main Road, Bangalore. The project will offer approximately 1,000,000 sq.ft. saleable area and will be developed as a residential housing project. The project will have good connectivity to the IT and ITes belt at Bellandur on Outer Ring Road and will be a landmark development in the location.