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.