Author: Prashant Thakur

Bangalore’s Whitefield: From Anglo-Indian Village To Vibrant IT-ITeS Hub

by Prashant Thakur

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Once a quaint settlement known for its scenic beauty with lush green trees and inhabited by Eurasians and Anglo-Indians during the late 1880s, Whitefield has witnessed a shift from being a settler’s haven to one of the sought-after real estate destination of Bengaluru.

Whitefield is one of the key tech hubs in Asia and has evolved as a preferred residential real estate destination.

Falling in the eastern periphery of the Greater Bengaluru region, Whitefield is a burgeoning micro-market with a rich history of over 200 years. However, the spurt of real estate developments in Whitefield dates back to early 2000s when the IT-ITeS sector began to boom.

The establishment of Export Promotion Industrial Park (EPIP) and International Technology Park of Bengaluru (ITPB) shaped Whitefield into a buzzing suburb. Today, more than four lakh ‘techies’ work in various multi-national companies located here.

Over the last few years, Whitefield’s skyline has metamorphosed into tall skyscrapers and big residential communities. The housing demand in this region is primarily driven by the IT professionals working in nearby office complexes.

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Pune’s Hinjewadi: From Rural To Urban At The Speed Of IT

by Prashant Thakur

Prashant Thakur, Head – Research, ANAROCK Property Consultants

Once an anonymous destination comprising of small villages in the peripheral areas of Pune, Hinjewadi is now a prime real estate hotspot.

With the launch of the Rajiv Gandhi Infotech Park and consequent entry of various IT-ITeS majors and multinational companies, Hinjewadi has witnessed spectacular growth in working population.

The accompanying demand for homes, backed by improving social and physical infrastructure, has made Hinjewadi one of Pune’s fastest-growing micro-markets in Pune.

During the early 2000s, the Maharashtra Government introduced its game-changing IT-ITeS Policy which offered liberal incentives to the technology-driven industries to set up operations in Hinjewadi.

Waiving off stamp duties for owned and leased properties built on MIDC land also aided the large-scale development of this region. Thus, the 2,800 acres Rajiv Gandhi Infotech Park, also known as Hinjewadi IT Park, came into existence.

IT Leads the Way

The establishment of the Hinjewadi IT Park acted as a powerful magnet for IT-ITeS companies, whose arrival and expansion have been the primary growth drivers for the real estate market of Hinjewadi.

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Chembur’s Fascinating Real Estate Transformation

by Prashant Thakur
By Pradeep Mohandas – Own work, CC BY-SA 3.0, Link

Old chimneys give way to swanky high-rises in Mumbai’s Queen of the Suburbs

Prashant Thakur, Head – Research, ANAROCK Property Consultants

It was known primarily as an industrial destination with the presence of companies such as RCF and BARC. Today, Chembur is transforming rapidly into a premium real estate destination of Mumbai, with industrial units, dilapidated slums and old buildings being replaced by modern high-rise towers.

The Mahul creek, home to thousands of flamingos migrating from Gujarat every year from November to June, was once a major international port of Mumbai. The once gigantic hills near Trombay were gradually razed for various reclamation works in the city.

Proximity to a previously operational port played a key role in Chembur’s development as one of Mumbai’s major industrial locations.

Subsequently, Chembur also saw the development of small housing colonies for the working population to reside in, and the micro market started evolving as a residential location. Also due to proximity to the port,

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Kanjurmarg – Mumbai’s ‘Can-Do’ Property Hotspot

by Prashant Thakur

Prashant Thakur, Head – Research, Anarock Property Consultants

When a location in Mumbai holds the three aces of accessibility, affordability and appreciation potential and completes its hand with good social infrastructure and workplace hub integration, it can justifiably lay claim the coveted property investment hotspot tag. Kanjurmarg can – and does…

Mumbai, the financial capital of India, is legendary for its massive employment opportunities, and as a result, the city’s population has been on a constant rise. Previously, the island city was the dominant hub of commercial and residential developments.

However, over the last few decades, rising property prices and saturation of the island city has pushed real estate developments towards the suburbs and further along the peripheral areas. The biggest advantage for the suburbs to evolve as key real estate destinations is excellent connectivity through the suburban railway network.

The Saga of Mumbai’s Suburbs

Real estate activity in the western suburbs has increased substantially in the recent decades due to the establishment of commercial office complexes in the Andheri-Goregaon-Malad belt. Enhanced connectivity via the Western Express highway helped in the region’s development as a key office market of the city.

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