Bangalore is a city which has been constantly developing over the last two decades. While the infrastructure in the city is rapidly growing, so is the traffic. Every day, there is an increase in the vehicles on the road.
Too much traffic is often a negative factor when you are deciding on a location to move to. No one wants to be around a crowded place where traffic jams last for hours together and people sweat more than it rains.
However, Whitefield is one particular area which has seen a tremendous rise in demand, both in terms of commercial and residential space. Despite the regular traffic jams and overcrowding of roads in and around the area, the demand for rental property in Whitefield seems to be skyrocketing.
This article will help us take a look at the developments which have influenced the rise in demand for properties in this area, despite the huge increase in traffic.
- MNC’s and IT Hub : Most of the multinational companies in Bangalore are situated in Whitefield. It is also known as the IT hub of the city. Most of the population working in these companies comprises of youngsters who hate travelling to work. This is a major reason why the real estate demand in Whitefield has been constantly on the rise. Most of the employees from these companies are on the lookout for a place closer to work, due to the long and tiring work hours.
- Sufficient Infrastructure : An ample supply of houses is another reason why Whitefield seems to be the hottest area in the housing market. Many builders have seen the potential of the number of people MNC’s can attract. Thus, they have made it a point to expand the real estate industry in this area. Most of these properties have been designed for working-class bachelors and thus they are extremely affordable.
- Transport Hub : Apart from the affordability, another reason why Whitefield seems to be such a centre of attraction is due to the fact that it is an extremely convenient hub for transport. It is well-connected to most other parts of the city. Numerous buses make it a point to ply back and forth to Whitefield, multiple times a day, thus providing everyone with ample opportunities to access the area.
- Construction Of The Metro: The 2nd phase of the Metro project is also under way and the installation of a Metro station will soon be under process. This will create a bigger scope for people to travel to and fro, thus increasing the importance of this area.
- Social Fulcrum : Whitefield is also known as a place with high-quality social infrastructure and it boasts of numerous public attractions such as malls, gourmet restaurants, pubs and public parks. Many reputed education institutes are also located in Whitefield and they definitely add more value to the entire vicinity.
- Availability Of Land : Another reason why people are flocking to Whitefield is because of the easy availability of land. This is a rapidly developing area and the value of land is constantly on the rise. Most people think it is a good idea to invest in property when it is appreciating in value. Thus the land in this area is being sold out faster than hot cross buns.
Apart from these influential factors, another reason why people are choosing to move to places like Whitefield is because of the massive explosion in the real estate value all over other parts of Bangalore. The amount of people who desire to buy property in Bangalore has shown a growing trend over the last few years. This is because overpopulation is leading to major problems, regarding the distribution of both residential and commercial land. People in Bangalore are viewing this period in time as a great opportunity to stake their claim over both commercial and residential plots.