The real estate market of Bangalore has been flourishing at a faster rate with an increasing number of office spaces, balanced demand, and supply of residential units, better infrastructural developments and many other proposed developments which are underway. At the same time, the presence of leading IT hubs in various localities is also attracting many working professionals and home buyers to buy or rent a home. Amongst all such localities, Whitefield and Electronic city are the two most favourable localities as they have the presence of many renowned IT Hubs, MNCs and other coworking spaces.
While both of these localities are well-developed realty markets, take a look at major factors that call upon homebuyers to invest in these two areas:
While Whitefield is located in the eastern part of Bengaluru, Electronic City lies in the south of the city. Both of the localities enjoy seamless connectivity to other areas with a perfect rail and road network.
Whitefield is connected via two four-lane roads- Whitefield Road via Mahadevapura and Varthur Road via Marathahalli. The nearest railway station is just 3 km away and the international airport is an hour away from Whitefield. There is planned metro connectivity on which the work has already been started and the corridor will be ready by 2021.
On the other hand, Electronic City falls on Hosur Road and thus enjoys smooth connectivity via Bannerghatta Road and NICE road. Also, the proposed metro connectivity which will be ready by 2022 to this region will further enhance traffic movement.
Bengaluru is known for its traffic congestion, then how can both of these areas stay away from this issue? Poor roads and potholes are the major reason for this. However, the civic body is working on this issue and redevelopment of all the major roads so as to provide commuters and residents relief from traffic problems.
In terms of social infrastructure, Whitefield is full of young minds and working professional and hence is a hub of many entertainment and recreation centers.
On the other hand, Electronic City is home to many reputed schools like Delhi Public School, Silicon Valley high schools and entertainment centers for nearby residing families.
Real Estate Market
Both the localities are full of many affordable as well as luxury segment investments. One can choose as per their office distance and other requirements and options are available in both areas. Many leading developers are constructing high rise apartments with best in class facilities as well as amenities to provide comfortable living to residents. However, in terms of property rates, Whitefield enjoys an edge over Electronic City. Reason being, the presence of posh areas like Varthur and oldest IT park ITPL in the nearby region.
At present, the property price in Whitefield is Rs 5,866 per sqft, on the other hand in Electronic City it is Rs 4,639 per sqft. But it does not mean that the Electronic city has fewer options for homebuyers. One can easily find small builder floor apartments and sizable Bungalows with parks and other daily needs requirements in the surroundings.
Also, with many IT professionals working in the IT parks, the rental market of both the localities have also flourished in recent years. One can easily find good rental options in both of these localities at budget-friendly rates. The average monthly rental value in Whitefield is Rs 19 per sqft on the other hand in Electronic City it is Rs 16 per sqft.
So all in all, both the localities have its own pros and cons but when it comes to investment they offer good ROI as well as better rental amount. So, invest in any of the areas but take decision accordingly.