With most IT professionals in Bangalore working in either Whitefield or Electronic City, choosing between the two for property investment is a dilemma for many. 99acres, thus, analyses both the localities on various parameters, including connectivity, social infrastructure, affordability and returns on investments, to help you make the best bet.
The transformation of Bangalore from the ‘Garden City’ to the uber-developed ‘Silicon Valley ‘ came about primarily because of the development of two of its major technology districts, Whitefield and Electronic City. IT/ITeS industry giants such as Wipro, MindTree and Infosys have established plenty of office buildings and co-working spaces in and around these booming neighbourhoods, giving a fillip to the real estate demand.
Whitefield vs Electronic City: Which is more popular
While Whitefield is situated on the eastern peripheries of Bangalore, Electronic City is a south Bangalore suburb, and real estate in both these localities promises a healthy investment potential.
Following the establishment of top MNCs here, these two IT/ITes hotspots became ideal residential hotspots. These two districts are home to IBM, SAP, Convergys, McAfee, Intel, Microsoft, Oracle, KPMG, among many others.
This is the main reason behind the growing demand for both housing hubs. It is obvious that people working in IT firms and MNCs in these areas prefer to live near where they work. The question is, which one is the most affordable and comfortable for living in a residential setting? Here are a few factors on which you can base your decision.
Whitefield vs Electronic City: Property and rental rates
Competitive home buying and rental rates, robust connectivity and access to well-developed social infrastructure make Electronic City a potential area to invest in. The average home values in Electronic City have surged by nearly seven percent in the last five years and stand at around Rs 4,900 per sq ft.
Whitefield, with a comparatively higher price tag of Rs 7,400 per sq ft, has clocked around an eight percent jump in its average ‘asks’, YoY. A significant share of housing demand in the region is often spilt over the neighbouring areas, such as Varthur and ITPL, owing to the competitively priced properties. Thus, hampering the scope of price appreciation in the future.
“Whitefield and Electronic City are two of the most prominent real estate locations in Bangalore. The growth potential of Electronic City is higher when compared to Whitefield. The former witnesses robust absorption of high-end technology parks offering Grade A office spaces and malls. Therefore, residential demand is also bullish, adding to the overall prospects of the location,” observes Ramji Subramaniam, Managing Director, Sowparnika Projects and Infrastructure.
The average monthly rental value for a 2 BHK unit in Whitefield is approximately Rs 25,000. The locality ranks as one of the most sought-after areas by the city’s immigrant workforce. Rental rates in Electronic City are comparatively affordable and stand at around Rs 17,000 per month for a similar unit. As per 99acres, 2 BHK and 3 BHK apartments comprise around 88 percent of the residential inventory in Electronic City, and the 2 BHK and 3 BHK unit stock in Whitefield stands at around 78 percent.
Whitefield vs Electronic City: Connectivity
The locality is connected to prominent sectors of Bangalore by means of two four-lane roads, namely Whitefield Road via Mahadevapura and Varthur Road via Marathahalli. However, Varthur Road faces more traffic congestion compared to Whitefield Road, and as a result, the travel time is almost doubled on this stretch.
The Kempegowda International Airport (KIA) is an hour-long drive from this locality, and the Whitefield Railway Station is just three km away. The Namma Metro project shall integrate Whitefield into its network under the second phase, and it will be one of the biggest drivers of property prices in the coming years.
To explore properties in Whitefield, Bangalore
Situated at a commercial hotspot on Hosur Road, which also lies on the Bangalore-Chennai Highway, Electronic City enjoys unparalleled connectivity to most of the city, courtesy of the Bangalore Metropolitan Transport Corporation (BMTC) buses. The area is linked to wide roadways like Bannerghatta Road and NICE Road, as well as an expressway with six lanes, further increasing its accessibility. The locale also boasts of a dedicated metro station on the Yellow Line of the Namma Metro, boosting connectivity further. Varied options for transportation are a contributing factor to the already rising property rates and well-matched demand.
To explore properties in Electronic City, Bangalore
Whitefield vs Electronic City: Roads and other amenities
Whitefield is known for its traffic congestion. However, an underpass on the Whitefield-Hoskote Road as part of the Peripheral Ring Road project is expected to address the concern. Additionally, an upcoming road to connect ITPL Main Road to Whitefield Main Road would also reduce traffic congestion.
Near Electronic City, Neeladri Road is a bone of contention due to a lack of maintenance work. However, authorities are working on redeveloping the stretch from Bannerghatta Road to Neeladri Road. Further, a depletion in groundwater levels in the Whitefield and Electronic City corridors is turning into a crisis. As it becomes more difficult to get an adequate supply of water from borewells, private tankers are being employed to bring in water. These factors serve as deterrents to the real estate movement in these micro-markets.
Whitefield vs Electronic City: Social infrastructure
With the majority population in Whitefield aged between 20 and 30 years, the locality has developed as a hub for the younger generation. The area is plush with pubs, nightclubs and breweries. Whitefield also has an assortment of malls, such as Phoenix Market City, Inorbit Mall and The Forum for some weekend retail therapy.
With renowned schools like Delhi Public School, Treamis World School and Sorsfort International School, Electronic City boasts of a social infrastructure that is ideal for raising a family. The area also consists of plenty of options for leisure that accommodate children and adults alike at recreation centres like Play Factory and Hebbagodi Lake Park
Whitefield vs Electronic City: Neighbouring areas to invest
For those who wish to invest in a locality that is equally accessible from Whitefield and Electronic City, HSR Layout and Bellandur are great options, situated at similar distances from both these destinations. Most other places falling in the middle of Whitefield and Electronic City have to be accessed via Silk Board, which is a known traffic bottleneck. However, to reach the destinations mentioned above, one does not need to cross the Silk Board junction, and that is an added advantage. These micro-markets mostly comprise sizeable bungalows, small builder-floor apartments, wide roads, several small parks and well-established retail options. They are also two of the most self-sustained localities in the city with property prices ranging between Rs 6,000 sq ft and 6,550 per sq ft.
“Travelling to Electronic City and Whitefield from any place in Bangalore is mostly a seamless affair, barring the congestion faced at Silk Board. But, the development of an elevated corridor near the Silk Board flyover is set to cut down travel time drastically,” suggests Imran Shaikh, a broker at Empire Estates.
Whether to go for Electronic City or Whitefield depends on the needs of an individual. There is no clear winner between Electronic City and Whitefield, as both these real estate hotspots have their sets of advantages and drawbacks. In the end, a choice can only be made based on a number of subjective factors like demographics, individual aspirations and requirements.
source : 99acres