Are you in search of a locality that gives you the returns that you want? Do you want to buy a flat in a self-sufficient locality? Then, Whitefield is one area that will be suitable.
Migrating here for work can be a useful decision as some of the top IT firms in International Tech Park, the Bagmane IT Park, and SHPL IT Park can be found here.
Quality retail and social infrastructure are also present here in the form of entertainment avenues, educational institutions, and hospitals making Whitefield a self-sufficient city.
The following developments are going to be a game changer and are the reasons for enhancing connectivity in Whitefield.
The city is expected to have a blue metro Line that goes through Whitefield. This blue metro line is going to connect to the Kempegowda International Airport and the construction is expected to be finished by June - September 2026.
The other metro line the Namma metro (pink line) is also going to come up and is under construction and will be part of the metro rail network for the whole city of Bangalore, Karnataka, India.
This pink line will connect with the purple Line at MG Road station. It will also connect with the Blue Line at Nagawara and with the Yellow Line at Jayadeva Hospital station. Both these lines are under development. The whole line is planned to start at the end of March 2025.
Besides the construction of these metros, a peripheral ring road of 74 km is going to be constructed, which is a big bypass that is expected to be finished in 2027. This bypass will go through Whitefield and will lessen the travel time to many localities in Bangalore, and the airport.
From Propequity data, it’s observed that in the year 2019, Whitfield had 27,000 units. But the supply here has considerably reduced in the past 5 years to 12,000 units. But, here is the great news, the number of sales here has surpassed the supply for the first time here.
Because of this, there has been an inventory overhang of 5 months and this is good and safe for the real estate market at Whitefield.
Therefore, with a low inventory overhang, investors can think about buying a property here at Whitfield for investment.
According to Propequity data, Whitefield has witnessed a price appreciation of 63% from 2019-2023, which means a 12.6% year-on-year compounded annual price increase.
A 12.6% year-on-year compounded annual price increase is good as Whitefield being an end-user market typically gives limited returns. So, considering buying a flat here can bring good returns
Also, the average cost of properties here has gone from Rs. 5300 sq ft to Rs.9000 sq ft from 2019-2023. And from our data, it is observed that low unsold inventory is observed here. Hence, the property rates here will be rising.
So, low inventory overhang, a rise in price appreciation, a rise in average price per sq ft of property and limited supply in the year 2023 can be reasons for you to consider investing in a real estate property here.
The construction of the peripheral ring road and the construction of the Pink and blue line of the metro will be completely transformational for this region and come under commercial development and, with their construction a rise in property prices is expected.
Being a self-sufficient locality, with a low inventory overhang, less unsold stock, a rise in average price per sq ft of property, and already-established IT firms can also bring about an increase in flat prices here.
So, fear not as a homebuyer and an investor you can look forward to purchasing your flat here and future returns are certainly expected.
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