Why Is Whitefield So Expensive
Whitefield is a busy locale in the east part of Bangalore City. It is one of the most sought-after residential areas of the City. And also the most high-priced or expensive spots in the City. It is ideal for buying real estate projects because it hosts many MNCs and IT firms. These IT firms offer jobs for many people close to the busy business corridors.
It has a high rental and resale market value. It has extensive retail and fun zones along with fast-growing social structures. The starting price of real estate projects here ranges from about Rs. 799 per sqft. The average price of housing units in this area is Rs. 9,443 per sqft. Some of the factors that contribute to the high prices are:
- Whitefield is referred to as the “Silicon Valley of India" due to the presence of many IT parks and tech firms. The influx of IT people looking for Career Options has mainly kicked up demand for housing units in this area.
- The advent of giant IT firms like Infosys, TCS, Wipro, and other startups has increased the count of highly paid IT experts. Their willingness to pay a huge amount for housing units close to their workplace is also a reason for the higher property rate.
- In a short span, this City has seen extensive structural growth. Its roads and other transit networks have improved a lot. The new namma metro expansion has a big part in it.
- Good infrastructure enhances the quality of life of the dwellers. These structures make it an attractive place to live. People are willing to pay more for the comfort and easy access the area offers
- It includes some of the City's most reputable schools and colleges. The demand for houses near these institutions has also contributed to the overall increase in real estate prices. The presence of good schools and colleges has also attracted faculty and staff, creating a self-sustaining cycle of demand for housing.
- This hotspot offers an array of malls, fun zones, and fine dining options. The presence of malls like Forum and Inorbit provides dwellers with lavish shopping options. The easy access to all these features adds great appeal to this area. These factors drive its real estate prices even higher.
- Access to world-class medical care is another reason for Whitefield's high prices. The presence of reputable hospitals such as Columbia Asia and Vydehi Institute made it a most sought-after choice for those who prioritize health care.
- Despite rapid urbanization, this locale has preserved some green spaces and parks. The presence of areas like the EPIP Zone Park and Whitefield ITPL Park provides dwellers with fresh air and escape to peace. The greenery and the feeling of a more serene habitat within the bustling City offer a high cost living.
- This Silicon City is famous for its lavish townships and high-end flats. Many builders have invested in creating upscale living spaces. It offers features like pools, gyms, and play areas. These elite projects attract a more affluent sector of people who are willing to pay a bonus for a plush living.
- The Real Estate Market in Whitefield is highly competitive. It demands for projects that incite builders to innovate and provide unique living spaces. It drives up the prices. The builders also outdo each other in quality and features
- It is a prime real estate spot. It is prime due to its proximity to major retail areas and many tech firms.
- It is too close to major IT hubs like ITPL and EPIP, making it a prime choice for IT workers.
- Its connectivity to other parts of the City is excellent and another factor in its high property prices. This enhanced connectivity has made it a desirable housing spot.
Conclusion
Whitefield's status as one of the most expensive places in Bangalore is the result of various factors. Its stature as an IT hub, superb infrastructure, and includes all other basic amenities. All these are the main factors that drive up property prices. It may be costly, but its appeal remains clear. It attracts many who look for high standards and vibrant urban living.
Provident Housing prelaunch apartment is Provident Botanico.
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