Whitefield and Outer Ring Road have led to much development of south and east Bangalore. The belt between Hope Farm and KR Puram is one such area. The stretch is linked to the airport towards the north and IT hubs towards the south. The IT hub in Whitefield has caused development of several residential areas. Flatsfor rent in Whitefield, Bangalore is muchsought after for the presence of social amenities like entertainment and shopping zones convenience stores.
Flats for rent in Whitefield, Bangalore and this stretch has increased because of its connectivity with the Old Madras Road. Situation of various international schools in Gunjur-Varthur Belt, Commercial activities in the EPIP Zone and ITPB, and high social infrastructure has spurred growth of residential properties here. The development of social amenities has increased towards the northeast belt as well, towards the Old Madras Road. Joint venture projects are coming up along this area which offers bigger properties in Whitefield. These constructions are coming up on 9 to 10 acre land parcels. Several industrial lands are being converted for commercial use around the area of Hoodi. A tech park is also scheduled for development along the ITPL Main Road. The built up area of the project is 0.35 million sq ft which shall provide impetus to increase demand for residential options.
The area is expected to see much leasing in the future. The Sarjapur Road-Marathahalli stretch of the Outer Ting Road shall be preferred by firms that want better infrastructure for commuting and facilities. The facilities in the stretch have seen consistent leasing demand. From Mahadevapura to Marathahalli, several companies are taking up space. Moreover, retail firms too are vying for property here. Whitefield had lower property rentals, hence is a good area to invest in keeping in mind long term development. Once the metro railway is completed, companies shall benefit. The area already has two million sq ft of office space under Grade A category ready to be occupied. All the commercial developments that are taking place here, shall further residential demand.
Much business activities are happening around the belt. The area’s social infrastructure is quite good and the metro line is being extended till here. The airport can be accessed easily within 30 to 40 minutes from Old Madras Road or Budigere Cross Road and so can the Central Business Districts of the city be accessed from here. Each neighbourhood along this stretch has neighbourhoods that are conveniently located and self contained. Therefore, this would be a good area to invest in.
The prices of property in this stretch are quite reasonable when juxtaposed against the returns from them. The price of property in Whitefield is around Rs 4000 to 5000 per sq ft, which is lower compared to other developed areas of the city. The demand for rental apartments is quite high here. For 1BHK flats for rent in Whitefield,Bangalore, owners can earn up to Rs 10000 in a month while for 2BHK, the amount ranges from Rs 12000 to 20000 per month.
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