Whitefield is known for its popular IT and Tech hubs. It offers better job opportunities for the people in and around Bangalore. So, it is the top reason people prefer to live in Whitefield. As more people are interested in Whitefield, the Property price trends in Whitefield keep changing every year. So, the Real estate market of Whitefield is growing and in demand. Business experts say the real estate market will be worth $1 trillion by 2030 because of growth and new possibilities.
Whitefield is the best place to invest because it will let you access the major IT hubs, shopping centers, entertainment centers, and social facilities. As a buyer or property investor, you should know the property price trends in Bangalore for better investment decisions. So, read this blog post to know the historical trends, current market trends, factors influencing the pricing trends, and prospects of Whitefield.
Whitefield is in the eastern part of Bangalore, known as a place for business and living. Roads and trains make it easy to get to other parts of the city. It lets you reach the city's best IT areas and Tech parks. If you live in Whitefield, you can choose schools, hospitals, shopping centers, and places to go for fun. Over the years, there has been a lot of growth in this area.
In the last five years, 28,500 new homes were built, according to the Report of Bangalore Real Estate Market. From 2013 to 2015, between 83 and 85% of all new launches were seen. But after 2016, the rate of new homes being built in Whitefield dropped fast because there were a lot of unsold homes. Then RERA and GST took effect.
In the past, the Property price trends in Whitefield were mainly due to the increase in IT and Tech hubs which offered better job opportunities for people. So, because of this, People started moving into Whitefield. And this migration increased the prices of the properties.
Currently, the Real estate market in Whitefield has significant growth. Investors or property buyers should know current property price trends in Whitefield.By knowing this, you can identify the correct price of the property. It will help you to escape from the fraudsters and Scams. With the help of price trends, you can know which property you can buy for different purposes.
If you want to buy a house to sell later, it's best to choose one that is declining in value. If you want to sell a piece of land, choose the one going up in value. Makaan says Price Trends in Whitefield start at INR 3.99 lakhs and cost an average of INR 1.28 Crores.
You can buy a flat for INR 7400 per square foot, which has increased by 6.4% over the last year. Prices for Builder floors start from INR 7387 per square foot. 99 acres say most people prefer Godrej Splendour, Sumadhura Eden Garden, and United Sai Silicon City.
Apartments, Villas, Land, and Independent floors are the top sought-after type of real estate in the Whitefield area. The average price of a plot in Whitefield is INR 4000 per square foot, and the average renting yield is 22%.
The Infrastructural development, Connectivity and Transportation, Job opportunities, Availability of top Schools and Healthcare facilities, Amenities, and Recreational centers influence the property price trends in Whitefield each year. As the demand for properties is higher in Whitefield, investing here will benefit you in the long term. In the following years, Whitefield will see more developments. So, the demand and property prices will also increase in the upcoming years.
Prestige Park Grove is a high-end enclave of luxury villas and elite apartments by the Prestige Group at Chikkanahalli Road. The elite housing enclave is on a lovely sprawling area of 78.175 acres in the Whitefield area. The project is to be launched in July 2023. The project is expected to be completed in four years from the launch date.
Prestige Park Grove Price Start with 60 Lackhs to 3.2 Crores. The enclave is perfectly named and is evocative of a lush grove of trees. The project’s builders know that nature positively affects physical and mental health. There are large amounts of green spaces, forested areas, parks, and gardens in the project.
The enclave is laid out in a four-leaf clover pattern with four zones branching out from the core. The central area has a lot of vital amenities and the visitor’s center. The four zones are connectedness, wisdom, well-being, and exploration. Every zone has its features. Clubhouses, street culture, work pods, yoga areas, and gymnasiums exist.
The enclave has 120 elegant villas of 3 and 4-BHK. There are also 4016 apartments in 21 high- rise towers of 1, 2, 3, 3.5, and 4-BHK layouts. The apartments span 600 to 3500 square feet, and the villas are from 2800 to 3500 square feet. These modern homes are well-laid-out and are awash with light and ventilation.