BANGALORE: A vital factor pushing demand for premium residential property in Whitefield is the supply of top grade housing in the Rs 2.5 crore and above range. From luxury apartments in gated communities to sky villas and high-end row houses, Whitefield offers a host of options for the affluent buyer to choose from. Indraprastha RUHE by Indraprastha Shelters Pvt Ltd (Rs 1.5 crore), Nature Walk by Rennaisance Holdings (Rs 2.50 crore), Miraya Rose by UKn Properties (Rs 2.75 crore) and Prestige White Meadows by Prestige Group (Rs 4.18 crore) are a few projects.
What works for Whitefield as a dream destination for luxury home buyers? The IT sector, the mainstay of Whitefield, is spearheading the demand for premium homes in the area. The presence of industries and IT Special Economic Zones has ensured that many top notch employees either rent or buy homes close to where they live.
The kind of price that an ultra-luxury home commands is mostly in the reach of top honchos from the IT industry and business segment. As Whitefield has a number of multinational companies, the number of buyers is high. Says Kauser Ahmed, Head-Sales and Marketing, MIMS Builders, “Bangalore’s luxury market is majorly driven by IT professionals. Expats returning to India too, constitute almost 40 per cent of the market in this segment. This has also pushed improved social amenities such as good schools, hospitals and commercial hubs.”
Another plus for the area is the Metro Rail network, which will reinforce the existing connectivity to the area. With the extension of the Metro up to Whitefield and stations at Kundalahalli, ITPL and Kadugodi Industrial Area, residential and IT belts will be benefitted. In road connectivity, the Outer Ring Road (ORR) becoming a signal-free corridor, the 8-lane Peripheral Ring Road (PRR) will be connecting Tumkur Road, Hessargatta Road, DB Pura Road, Bellary Road, Hennur Road, Old Madras Road, Whitefield Road, Anekal Road, Sarjapur Road and Hosur Road. “The infrastructure initiatives in various stages of construction and planning have further pushed residential demand in the area,” informs Karun Varma, Managing Director – Bangalore and Kochi, Jones Lang LaSalle India.