A dusty town with a fancy name and a faint presence, the story of Whitefield, Bangalore is that inspiring movie with a spirited script. What happens when you realize the dust around you is valuable, it could be gold dust – You own as much of it as you can, don’t you?
At the turn of the millennium, as Bangalore became a globally renowned city for greater employment opportunities, it needed to make room for all the fame and the people that were coming in. As is our Indian culture, Bangalore made enough room for all of them.
Large builders in the industry had this intuition and vision, they probably are large builders now for this reason. They envisioned a newer way of life for the city – They somehow knew we would soon be too small a city to live within Sadashivnagar and J.P Nagar
As time passed, there wasn’t enough room for all of us. A palpable change was in front of us – beautiful boulevards became busy high streets and those palatal independent homes gave way for crumpled dwellings. Bangalore has never been the same again.
Bangalore Development Authority (BDA) somehow had a solution to restore some order – it extended the city limits, Greater Bangalore was born. Whitefield’s story picks up poise from here.
The beginning of this millennium brought two drastic changes with it for Bangalore – Employment dynamics in the city and the concept of luxury living in apartments. Again, Bangalore had to make room for such massive employment- Bangalore East said Welcome.
Large acres of land in Whitefield, Marathahalli and ITPL were used to develop plush tech parks and fine living apartments. Bangaloreans grasped this idea pretty fast. They understood life and lifestyles in Bangalore was set to change, forever.
Bangalore real estate has had a consistent trend ever since. The demand for 2 BHK apartments in Whitefield or surrounding areas has been perennially greater than for apartments in any other part of the city. It is easy to understand why:
1. Convenience: Let’s face it, As human beings, all of us have this natural tendency to make a moment favorable for ourselves. Imagine living in one corner of the city and having to travel down the length of it for work, every single day.
Apartments in Whitefield, closer as they are to work (73% of Bangalore’s corporate workforce is employed in Whitefield or surrounding areas) also offer a drastic shift in the ways of life one experiences in other parts of the city
In these days of crumpled living going with traffic hassles and snarls from irritable neighbors, these apartments offer a delightful ambiance to live a wholesome family life full of love and laughter; there are ample amenities to do so.
2. Amenities: Residents of flats in Whitefield, Bangalore not only have another residential property in Whitefield, they have an absolute setting for the good life. Exquisitely elegant homes going with extensive lifestyle amenities make life in this part of the city a cool breeze.
From lavish swimming pools and clubhouses to comprehensive sports, fitness and wellness amenities going with the well planned and nurtured greenery throughout the premises’ indeed makes for a serene ambience for a more beautiful way of life.
One may wonder if such expansive amenities are exclusively sorted for the residents of apartments in whitefield, definitely no, apartments near Airport road, Hoskote also offer such lavish amenities but flats in Whitefield tick the proximity to work and school boxes, others can’t.
3.Return on Investment: The most important factor of ‘em all, these flats in Whitefield beyond the many boxes they tick while hunting for a property in Bangalore have a sumptuous and tangible asset one can only jump into – Return on investment.
We all know how ideal a move it is to make an investment in Bangalore Real Estate, however, few of us hardly make the MOST of it. Of Course, no decision can be deemed a perfect one but, let us consider the below facts and figures and see if that makes some sense…
Comparison of average price per square feet of apartments in different residential areas of Bangalore City.
Location Value of land per sq.ft. Average Appreciation % in the last 14 months
Indira Nagar Rs. 6750 – 12083 /sq ft. 3.75%
Koramangala Rs. 7350 – 12550 / sq ft. 4%
Malleswaram Rs. 9010 – 11518 / sq ft. 2%
Sadashivnagar Rs. 12855 – 20937 / sq.ft 3%
Dollars Colony Rs. 6754 – 9884 / sq.ft. 8%
Sahakarnagar Rs. 4632 – 6986 / sq.ft 6 %
Hosur Road Rs. 3427 – 5636 / sq ft. 18%
HSR Layout Rs. 3946 – 7236 / sq ft. 3%
Whitefield Rs. 3748 – 6404 / sq ft. 20 %
While appreciation potential of apartments in Whitefield and apartments in Hosur Road have a definite positivity about them, it is quite interesting how more established areas like Sadashivnagar have a massive asking amount but the appreciation remains almost stagnant.
One may wonder what factors determine the valuation of the properties across Bangalore and why it differs drastically – Contrasting prices is a result of one major differentiator:
Demand & Supply: A residential property in Sadashivnagar, B’lore has an exorbitant asking rate as there is significant value for the upscale residential identity of this area. While there is heavy demand, supply in this area is negligible at most times, spurring the price further.
It is interesting though, how properties in up and coming areas offering modern and lavish lifestyle amenities are priced competently to instigate greater demand. As the city gets more sensitive towards more modern lifestyles, the value of properties can shoot only one way, Up.
For a modern family whose priority lays in convenience over convention, properties in Bangalore East areas not only provides an elegant living experience with previously incomprehensible lifestyle amenities, they also offer the more tangible, Return on Investment.
Whitefield is a fairly up and coming area, with rapid development happening over the last few years and modern families already taking a liking for this part of the city for the convenient yet lavish lifestyle it offers at affordable prices, the price is expected to rise consistently fast.
As affordable as it is to buy a residential property in Whitefield, Bangalore, few buyers are aware of the numerous smart hacks one can make to pay as less mortgage as possible. We all know how much of a difference even a 0.5 or 1 percent difference in the EMI can save.
3 ways one can save massive money while buying a residential property in Bangalore:
1. Track Your CIBIL Score: The CIBIL TransUnion score ranges between 300 and 900. It is worth noting that about 80 percent of the loans that get approved have a CIBIL TransUnion score of 750 or more. A good CIBIL score helps in easier loan approval and at times a cheaper one.
Bankers lookout for numerous cues when a person applies for a loan – all one has to do is convince the bank with tangible evidence that you are a good prospect and banks are known to go the extra mile to make live under your own roof.
2. Interest Rates: Most borrowers have been choosing the floating rate of interest considering the steep decrease of interest rates thanks to Demonetization. State Bank of India has reduced the interest rate for home loans to 8.65 % while Bank of Baroda has brought it down to 8.35%.
While choosing a fixed rate of interest provides absolute clarity of things to come, a floating rate of interest is said to save a considerable amount of money given the fact that interest rates are said to come down further. One can also opt for a Part Floating & Part Fixed rate of interest.
3. Foreclosure: It is always advisable to pay off as much money as possible toward the loan so as to enjoy the benefits of paying a lower EMI. The RBI in May 2014 has made it clear that banks cannot charge a borrower any fees for this process.
Also, if one is more investment savvy, they could invest the surplus funds they have and with such returns. pay off the loan as quickly as possible. Though home loans are generally paid for a period of 15 – 20 years, it helps in many tangible ways to pay off in fewer years.
4.Switch Banks: Though most people find this a sensitive choice, it is a definite benefit one could avail, should he/she decide to switch banks for the want of a lower EMI or other specific banking policies. A 0.5% to 1.75% of the outstanding loan amount may be charged for the conversion.
With so many opportunities to save a lot of money, home buying dreams definitely have ground to become real. Going by the cliché, “No other asset provides as much return in Bangalore as property in Real Estate’, the choice is indeed straight and simple.
Apartments in Whitefield, Bangalore and surrounding areas have been gaining in massive demand for this reason. While they offer elegant flats with a beautiful communal setup, they all have a pleasant vibe to them, thanks to the expansive open spaces in the premises.
Who doesn’t need a more elegant home with comprehensive lifestyle amenities! Definitely, these ready to move homes in Bangalore East have given Bangaloreans a paradigm shift for a more healthy and easy living.
Do we ever remember having the luxury to reach office in an easy ride and get back home to not just to relax and rest, but to engage with your family and friends in a jovial, fun and convenient way. That is the shift we are talking about.
Apartments from top builders like Brigade, Salarpuria, Puravankara, Prestige and Sumadhura have graced the area and made Whitefield a unique area full of architectural brilliance. It’s such a pleasure to have an early morning walk around this area!
Apartments in this part of the city have a fascinating charm about them. While, some of them have an exotic resort like aura, some apartments have massive open spaces ideal for beautiful landscape photography. There are some with heavy credentials too.
Brigade Cosmopolis in Whitefield for one has a wide range of lifestyle amenities including sky gardens, multiple water bodies, massive open spaces optimised for a more naturally serene and sprightly way of life.
There are quite a few builders who have been offering lavish lifestyle amenities to the residents, thanks to the large spaces they possess. Apartments from builders like Sumadhura, Skylark, Renaissance and Prestige have somehow had a distinct charm about them.
Sumadhura Shikharam, Prestige Palms, Renaissance Jagriti, Skylark Ithaca, Sunrise Aurora, Confident Whitefield Oberon and Godrej United are few apartments in Whitefield that have been offering elegant homes with comprehensive lifestyle amenities and conveniences.
Also, some apartments are more equal than the others – in terms of return on investment. It’s fascinating how the value of some properties rises relatively faster than the others. Various aspects like social amenities and civic development pass the benefit to the owners.
Apartments that have had a massive rise in value include Brigade Lakefront, Assetz Marq, Sumadhura Shikharam, Sir Garnet Park, SLV Sunshine and Trifecta Starlight. These flats in Whitefield have had an appreciation of at least 18 percent in the last 2 years.
Bangalore real estate’s thriving reputation has had a massive boost with massive accolades from globally renowned rating agencies for some apartments, CRISIL being a popular and globally accepted rating agency.
While only Nagarjuna Meadows has achieved the ultimate CRISIL 7 Stars, few apartments have achieved the previously incomprehensible 6 Stars. Apartments with CRISIL 6 Stars in Bangalore include Sumadhura Silver Ripples, Asset Aura, The Gardens, Greenage & KNS Anirvan.
While a CRISIL 6 or 7 star rating means the residential project is unbelievably exquisite, there are quite a few which have been rated a commendable 5 stars including Brigade Exotica, Serene Town, Prestige White Meadows, ARK Serene County and Cloud City.
Far from the crumpled ways of living, we have grown into and much against the adjusting ways of life we have had enough of – A healthy and convenient way of life is emerging fast in Bangalore; It is emerging fastest in Bangalore East.
Why so fast in Bangalore East?
• Well-endowed social and physical infrastructure
• Extensive serenity conducive to develop into one of the finest residential areas
• Currently affordable prices due to intense competition
• Builders offering elegant homes with extensive lifestyle amenities
• Proximity to most tech parks in the city and some international schools
To all those years of unyielding dreams of owning a home in bangalore and to the irritations we all have faced from our dear neighbors, Whitefield has definitely been a game changer to Bangalore real estate and the Bangalore lifestyle itself.
Those memberships in the fancy gyms/clubs and having to find a hard way to play the sport of our choice – Those times can neatly be folded and memorized. The new life in Bangalore is all about convenience, absolute convenience!
We all have paid exorbitant amounts of money for that gym and club membership and failed to reap enough rewards at some point, haven’t we? The newer lifestyle in these apartments in Whitefield hates just that. It wants to make life as convenient and easy as possible.
From ultra-modern gyms and clubhouses to swimming pools, sports and fitness amenities to go with myriad activities to focus on the wellness of the residents’, most apartments in this part of the city also feature innovative amenities like Rainforests, water bodies, birds park et al.
To provide the residents with a more real and beautiful way of life, many of these high rise apartments have been innovatively designed, to provide an exotic living experience within their homes with extensive panoramic views of the skyline and the lush green landscape around.
Whitefield’s transformation has been real. From humble beginnings,to being one of the beautiful areas of the city. One hopes other areas in the city also gets as much concentrated efforts from the govt. and present Bangaloreans with a more healthy, convenient and fulfilling life in the city.