Prestige Park Grove, a neighbourhood, is filled with joy. Conveniently located close to the sizable apartment complex are all the city's attractions. With 1, 2, and 3 bedrooms, there are houses for sale. This residential property in Whitefield gives all the comforts of home in a roomy flat surrounded by lush vegetation. Each resort guarantees to be your tranquil sanctuary thanks to its well-built amenities and creative sensitivities. Our hilltop location offers stunning views and strikes the perfect balance for the modern cosmopolitan and their family in the heart of Bangalore's most coveted residential district. The Prestige Group's Prestige Park Grove is a contemporary, sumptuous pre-launch residential development in Whitefield, East Bangalore. The 80-acre Park Grove neighbourhood has spacious, well-ventilated, and Vaastu-compliant 1 BHK, 2 BHK, and 3 BHK homes. The well-known Whitefield neighbourhood in Bangalore has a range of home options. This neighbourhood is home to the city's largest IT network, which employs thousands of people. This neighbourhood is experiencing a rise in residential demand as a result of its proximity to places of employment, educational institutions, prestigious medical facilities, and shopping centres. The most well-known developer in South India is The Prestige Group, which also has a solid reputation in the industry. The company is dedicated to providing the very best to its devoted clients and is known for its cutting-edge products and high standards. Spreading joy and peace among the city's residents was the project's main goal. This ultra-luxurious township is a living embodiment of the innovation and perfection values of The Prestige Group. The project, which was created by some of the best minds in the industry, will be constructed using cutting-edge methodologies. RERA approval for the apartment is not yet complete. The brand-new Prestige Park Grove neighbourhood in Bangalore is set to debut in the middle of 2022. Prestige Group's pre-launch in Whitefield is necessary in order to meet the area's housing demand. Create a unique narrative for an unparalleled living experience.
Prestige Park Grove, a gated neighbourhood of luxury smart homes built by the Prestige Group and tucked away in a lush, natural setting a lovely neighbourhood of luxurious residences. The ideal location for anyone who want to avoid their daily drive to work while still being removed from the hustle and bustle of city life. Enjoy the comfort of a clubhouse that is completely furnished and offers a range of recreational activities, such as a swimming pool, gym, health club, indoor badminton court, party halls, billiards, table tennis, board games, reading room, and space for a creche. An outdoor games area, an elders' park, a kids' play area, and a pet park are all located in the open space. They all make sure that the neighborhood's needs are satisfied. Come in with your family and discover a digital way of life where leading an urban lifestyle is easy, smart, and convenient. Explore Prestige Park Grove, where you live. Learn about a lifestyle that is genuinely exceptional. In other words, everything at Prestige Park Grove is purposefully created to make you fall in love with your loved ones, friends, and life all over again. The enclave will also contain a vast assortment of top-notch, luxurious amenities that are intended to improve the quality of life for its residents. These facilities will include everything from a classy clubhouse to sports and fitness facilities like a gym and more. This construction project is a tranquil haven situated in exquisite surroundings with numerous planted gardens.
Prestige Park Grove Bangalore offers opulent 1 BHK, 2 BHK, and 3 BHK houses that are big, well-ventilated, and equipped with all kinds of outstanding services & amenities. It is situated on broad acres. The best residential options may be found in Bangalore's well-known neighbourhood of Whitefield. Due to its close proximity to workplaces, educational institutions, the greatest healthcare facilities, and shopping malls, this neighbourhood is experiencing an increase in residential demand. Each unit at Prestige Park Grove Bengaluru is created to provide abundant sunlight and the right amount of aeration. Prestige Park Grove in Whitefield is a blend of values that guarantees the emergence of a vibrant neighbourhood. For many home hunters, this residential property presented the right location. It is quickly rising to the top of homebuyers' favourites lists because it is inexpensive and offers a luxurious way of life. The undertaking is a luxurious haven. Your quality of life will be elevated by opulent grandeur and vast green spaces. Discover a beautifully constructed property at Prestige Park Grove Whitefield Bangalore. It boasts an attractive lifestyle endowed with the highest level of richness. Come see for yourself the symbol of comfort and tranquilly. Dreams come true for those who reside in peace and tranquilly at Prestige Park Grove, which reflects our duty to you. A variety of villas are available at Prestige Park Grove Bangalore that can be customised to become your ideal home. At Prestige Park Grove Whitefield, the extraordinary environment is created by the careful attention to every detail.
Prestige Park Grove's ideal location in Whitefield makes it easily accessible to Bangalore's business, IT, and industrial areas. Due to its carefully planned infrastructure, Bangalore is far ahead of other well-known areas in the city.
The community has a fully furnished clubhouse with many amenities, including a swimming pool, gym, health club, indoor badminton courts, billiards, table tennis, board games, reading room, and party halls, to meet the needs of the neighbourhood and provide you and your family with the best recreational options.
The project's ultimate goal was to develop something that matched the needs of the people it served in terms of climate, way of life, and well-being. The Prestige Park Grove combines the best elements of city life with a close connection to nature and a leisurely pace. The project's distinctive mix of uses guarantees a vibrant neighbourhood. Given its proximity to all of life's essentials and amenities, Prestige Park Grove is one of Bangalore's most sought-after homes.
Prestige Park Grove, one of Bangalore's best residential apartments, features every amenity a potential homeowner might want, from theme to layout, amenities to specs, to help them spend more time at home with their loved ones.
There are numerous windows for ventilation and natural light in each apartment's spacious bedroom. Due to its location in an established neighbourhood, your new home is convenient to shops, malls, schools, and places of work.
If you need access to business centres, three-tiered security, or play places for your children, Prestige Park Grove can accommodate all of your needs.
You can scout out potential residences at Prestige Park Grove. Discover something truly distinctive about a way of life.
We're glad you're here at Prestige Park Grove, where you can focus on the things that matter most to you: your attitude, effort, aspirations, awareness, and action.
The Prestige Group, a renowned real estate giant in South India, created the upscale new residential township Prestige Park Grove in Whitefield, which is equipped with all modern conveniences. This ultra-luxury property was carefully planned for people who place a high emphasis on happiness. It applauds the grandest, most opulent offering in the grandeur industry from Prestige Group.
Prestige Park Grove is a masterfully constructed residential community that provides its residents with a tranquil and opulent setting.
This township offers roomy apartments with top-notch amenities.
Residents of the Prestige Park Grove apartments live in a distinct, upscale lifestyle with lovely surroundings all around them.
The 1 BHK, 2 BHK, 3 BHK Flats in the Prestige Park Grove township will be developed on big parcels of land. Currently in the pre-launch phase, Prestige Park Grove in Whitefield will be completed as soon as possession is turned over. Every offered unit complies with Vaastu.
At Prestige Park Grove, the price range for a 1 BHK apartment is about between Rs. 70 lakh and Rs. 95 lakhs, for a 2 BHK apartment, between Rs. 1.10 crore and 1.32 crores, and for a 3 BHK apartment, between Rs. 1.42 crore and Rs. 1.60 crores. Soon, the website will publish the precise price. It is on track to become the greatest self-sufficient township created using contemporary ideas in all of India.
Living in Whitefield makes you realise how much better life is than in other sections of the city. Due to Whitefield's advantageous location on Old Madras Road, it has excellent transportation options by road, train, and air (National Highway 4). You can swiftly reach your destination thanks to the fantastic road connectivity in this area.
The closest railroad station is located in Hoodi, which is located 3.5 kilometres away. Varthur Road and Old Airport Road are connected by the Whitefield Main Road, which also offers easy access to other important locations. The Outer Ring Road's unparalleled accessibility from Marathahalli is an added benefit. Excellent access to Kempegowda International Airport is provided via SH 104. (49 km away).
Being close to esteemed educational institutions is essential if you want to give your kids a wide range of opportunities for a bright future. Whitefield is a great spot to raise your children because it offers several schools and other educational facilities.
National Public School (NPS), Whitefield, Deans Academy, DPS, Whitefield Global School, Chrysalis High School, VIBGYOR, and Vydehi Institute of Medical Sciences, and MVJ College of Engineering are a few of the well-known schools in the area.
Additionally, the Ascendas Park Square Mall, Inorbit Mall, Forum Value Mall, as well as the hotels Taj Vivanta, Zuri, and Marriott Whitefield are all approximately three kilometres from Prestige Park Grove in Whitefield, Bangalore. A future metro station is only a short distance from Prestige Park Grove. Affluent businesses like IBM, Oracle, TCS, SAP Labs, Qualcomm, Accenture, Mercedes Benz, etc. are nearby Prestige Park Grove in Whitefield. Two renowned hospitals close to this residential area are Columbia Asia and Vydehi Hospital.
Due to its excellent location and amenities, Whitefield is perhaps one of Bengaluru's most well-liked neighbourhoods. With so many enterprises locating here, the neighbourhood will soon experience an increase in residents with a variety of requirements. With numerous new residential structures being constructed, Whitefield is unquestionably a worthwhile investment for the construction industry and a convenient location for the locals.
Bangalore has a long history of being known as a "retirement city" because of its relaxed and leisurely pace and calm ambiance. The city had preserved its old-world splendour due to its roots in the former British cantonment territories, and it seemed that the inhabitants were satisfied with the simple, laid-back, and peaceful lifestyle. But after India's imports and exports of hardware and software were liberalised, the entire nation underwent a significant upheaval. The "retirement city," Bangalore, served as the focal point of this change. When well-known IT firms like Infosys opted to locate their headquarters there, the city was thrust into the public eye.
Due of this, a lot of significant companies have opened operations in Bangalore as they start to see the city's potential. Prior to this, Bangalore had drawn a number of significant government organisations, but it had also become the commercial leader. Bangalore has earned the moniker "Silicon Valley of India" as a result of the establishment of various corporate offices throughout the nation, particularly in the IT sector. As a result of the name change and the numerous job opportunities, the city had a massive influx of new people wanting to establish their careers and fortunes. People from different regions of the country and immigrants from abroad were all included in this influx of migrants.
As the rest of the world took notice, Bangalore's culture transformed from laid-back to lively and throbbing metropolis virtually overnight. Today, Bangalore is the third most populous city in the nation. The city's real estate market quickly increased as a result of the influx of wealthy, upwardly mobile residents. Real estate development companies rapidly recognised Bangalore's potential and appeal as a location for a migratory population, and they started building a number of enormous and opulent residential towers that brought new residents to the city. With the growth of the real estate industry, the city's physical infrastructure has kept up, and it now possesses top-notch infrastructure. Bangalore is poised for greatness, and the city's allure is heightened by the nice climate it enjoys throughout the year. It is now a global force that cannot be ignored.
The advent of new developments and a rebound in sales were anticipated to revitalise Bangalore real estate in 2021. Following the Q3 2020 sales result, the situation got better. The Karnataka Stamps Tax (second amendment Bill, 2020) proposed reducing stamp duty from 5 percent to 2 percent for apartments priced under 20 lakhs. This was carried out to enable the opening of a drive-in restaurant.
Due to promotions like No GST and ready-to-move-in-now-pay-later programmes, customers favoured ready-to-move-in properties. Since working from home has become the new norm, there is a great demand for 2.5 and 3.5 BHK homes with extra space that can be turned into an office.
Unsold inventory fell by 3% between the first quarters of 2020 and 2021. From Q3 of 2020 to Q1 of 2021, sales increased by over 5400 units. Localities were carefully inspected, favouring those that were close to places of employment. The amount of time spent commuting was decreased, and efforts were made to seek various forms of transportation, including a Namma Metro line.
With ready-to-move-in apartments of 1800 square feet or more, the mid-segment houses were the most popular. Apartments with 2.5 to 3 bedrooms and a price tag under one crore rupees were in demand. The most intriguing plots involved gated communities that could support themselves and low-density buildings.
Mortgage rates are predicted to peak in the not-too-distant future. The Mortgage Bankers Association projects a rate of 3.3 percent for 2021, compared to the National Association of Realtors' forecast of 3.1 percent. All of these prices housing, sales, rent, and real estate are expected to increase significantly in 2021.
Sales are anticipated to increase in the third and fourth quarters of 2021, necessitating the need for work-from-home opportunities as well as big investors such IT professionals and industrialists who want to own rather than rent. Now is a great moment to buy real estate, even if you work abroad.
The city's real estate sector would be significantly changed by Bangalore's metro.
Cities' growth is governed by their transportation systems. Many new workers are moving into cities, where they are working long shifts to fix transit infrastructure. Modern monorails and metro railroads are regarded by many as the best ways to promote economic development. The metro is the best option for a straight link because it is the area with the most serving and rising real estate prices.
The public transportation system has been proven to increase city rates in places like Delhi, Mumbai, and Bangalore by as much as 25% a year. Real estate costs for both commercial and residential properties are increasing as metro lines are constructed all over the city.
Numerous elevated highways, BMTC buses, taxi services, private automobiles, Ola/Uber, and auto-rickshaws are not enough to accommodate Bangalore's continuously expanding population, which is expected to reach 2 crores by 2031. In Bangalore, there is a strong desire for a public transportation system, and expanding the Namma Metro line is without a doubt one of those desires.
Because the metro slashed commuting times in half, employees were encouraged to live in areas where they could utilise it to go to and from work. Buyers started looking for public transportation options in order to purchase flats, plots, and villas. Bangalore real estate is still significantly impacted by the metro. The administration is currently focusing on extending lines and putting measures in place in areas where the metro is not yet operational so that development may begin. The metro expansion line is currently in phase II of construction in a few of the areas.
The value of Bangalore's real estate market started to skyrocket as a result of this effect. The second-largest and first subterranean metro in India is called Namma Metro. Project phase I was finished in 2007, and phase two is anticipated to be finished between 2022 and 2030.
Bangalore's most important projects
Prestige City will be situated in one of East Bangalore's most affluent neighbourhoods, off Sarjapur Main Road. Prestige Groups' project is one of the most ambitious in Bangalore, featuring plots, villaments, and luxury apartments built on a single platform. The idea is distinctive in that it consists of several apartments inside a beautiful forum with contemporary conveniences and standards. The essential social services and physical infrastructure are available right next to your dream home in Prestige City, a metropolis within a city. A hearty, healthy living atmosphere is produced by the concept, which also maintains the ideal open space to building area ratio.
Another key feature of the project is its convenient access to key employment hubs, educational institutions, multi-specialty and super-specialty hospitals, conventional halls, shopping malls, restaurants, sports academies, cultural academies, IT Parks of Electronic City/Whitefield/Marathalli/Koramangala, grocery marts, supermarkets-hypermarkets, banks, pharmacies, and other amenities. Huge clubhouses, lush landscaping, community gardens, butterfly gardens, orchards, tree-lined pathways, jogging and cycling lanes, outdoor play areas for kids, childcare facilities, bars and spas, indoor kid's arenas, pet areas, senior citizen decks, yoga studios and aerobics studios, grand entry and exit arenas, CCTV surveillance facilities, quick lifts and service elevators, well-planned parks, and surveillance systems for those parks are all present.
About Prestige Group
The 1986-founded Prestige Group has grown steadily to rank among the most prestigious real estate development companies in South India. Since the completion of their initial project, the Prestige Court on KH Road, the Prestige Group has successfully ventured into a number of fields, solidifying its position as a leader in the real estate development market. In addition to residential structures, the company's portfolio is diverse and includes commercial, recreational, retail, and hotel facilities. Because of its numerous contributions to the real estate industry over the years, this organisation has won numerous awards and accolades. This well-known real estate developer has finished 247 projects totalling 134 million square feet, has 45 projects under development totalling 53 million square feet, and has 56 million square feet in the works. This foresighted firm has a massive 262-acre land bank with 27 million square feet of prospective land. While the company only has 205 known real estate projects in Bangalore, it has also expanded to Chennai, Kochi, Hyderabad, Goa, Mysore, and Mangalore, where it is actively transforming the urban landscapes.
One of the well-known landmark projects by the Prestige Group is The Forum Vijaya Mall, the largest shopping centre in Chennai. The Prestige Lakeside Habitat, the largest residential construction project the Prestige Group has undertaken to date, the Prestige Acropolis, one of Bangalore's first upscale residential complexes, and the Prestige Acropolis Prestige Golfshire is the first golf villa residential development in South India. This well-known business is renowned for its originality, dedication to excellence, and focus on customer satisfaction.
The Prestige Group, the most famous real estate firm in India, was established in 1986. By delivering its own unique and ideal formulations to the biggest cities in the country, it has taken a new position in the real estate development sector. There are offices for the organisation all over the nation, including ones in Bengaluru, Mysuru, Chennai, Hyderabad, Kochi, Mangalore, and Goa. In a number of South Indian cities, the company has launched commercial, retail, residential, and hotel businesses. The distinctive "Forum Mall," developed by Prestige Groups, is a hallmark of retail success and is home to many local, national, and international firms. The residential projects built by this construction company are some of Bengaluru's best-performing real estate investments. Each project takes legality, content, quality, and engineering standards into consideration. The residential townships have partnered with elite design studios, landscape experts, and top-tier construction companies like L&T. CRISIL, India's top source of ratings, research, risk analysis, and policy recommendations, has given the company a DA1 grade.
The most renowned and customer-focused organisation is Prestige Groups, which has won numerous awards and distinctions on a national and worldwide level. Among the significant prizes given in 2020 are the Best Retail Project Award (Platform: Global Accolades for Retail Excellence), India's Major Builder Award (Platform: CWAB 2020), and the Karnataka Best Employer Award (Platform: CWAB 2020). the World HRD Congress as a platform. One of the most well-known real estate companies in the nation, Prestige Group, has more than 30 years of market expertise. It is also among the most well-known construction firms in India, with locations in Bangalore, Chennai, Kochi, Mangalore, Hyderabad, and Mysore. Bangalore's affluent neighbourhoods are one of their key marketplaces because Prestige has business there. In the retail, commercial, residential, leisure, and hospitality sectors, Prestige Group is in charge of all pertinent property development portfolios and enterprises. The brand represents innovation, exceptional quality, and long-term survival. We discuss a wide range of subjects, such as big townships, integrated communities, villa developments, SEZs, Tech Parks, and retail. Success in each of its businesses has helped Prestige gain the respect and confidence of its stakeholders and customers.
The professionals in this group were able to utilise all of their considerable expertise, inventive processes, and extensive experience gained over a very long period of time, resulting in results that were truly amazing. This construction company has a massive staff of incredibly gifted professionals. Prestige Group leaves a lasting impression on every project it undertakes, whether it be in the engineering, the facilities, the cutting edge innovation, or the taste.
This developer group provides every city with an unmatched experience in iconic shopping malls, technology parks, sizable townships, accommodation, opulent homes, and SEZs. South India Prestige Group has also received many national and international awards across classifications in recent years. The firm has been at the forefront of many milestone breakthroughs and introduced many firsts.
With all of their accomplishments and consistent quality delivery over many years, this group of engineers is now among the most favoured in the industry. The Prestige Group is currently a name that is synonymous with progress. Over time, the organisation has grown into a variety of connected and unrelated administrations, all of which were started by individuals with qualified capacity.
By leaving its permanent imprint across all resource classes over the past 10 years, this group has successfully established a strong foundation for itself as one of the leading and greatest developers of real estate in India. CMD Irfan Razack spearheaded the original establishment of this construction crew, which was coordinated by his brothers Rezwan and Noaman Razack. Amazingly, the corporation currently has a number of successful finished and ongoing projects in Chennai, spanning the commercial and retail sectors. Three completed commercial development projects, Prestige Cyber Towers, Prestige Polygon, and Prestige Palladium, have received astounding remarks.
This construction organisation is currently designing and supporting a remarkable variety of home endeavours. These well-known developers provide modern residential locations with the best features in accordance with the desires of the client. The Prestige group's projects involve several real estate upgrades in both residential and commercial sectors.
India's second-largest developer and well-known building company is Prestige Group. Investment in real estate would guarantee significant returns and pride. The property's name implies that those who buy it would lead a luxurious lifestyle with access to top-notch amenities. The neighbourhood is home to sizable IT parks, shopping centres, educational facilities, hospitals, and entertainment areas, which has generated a real buzz for residential communities.
Due to the Prestige Group's stellar reputation, which ensures excellent profits, their properties have a Unique Selling Point that makes them worthwhile investments. The greatest standards of security and safety are used in the construction of prestige property, which emits pride and social position. These qualities are well-known for their calmness and tranquillity throughout India. Our programmes are implemented widely throughout Southern India. One of the best instances of creative real estate planning and development is the Disney Land Experience at Prestige Lakeside Habitat. Prestige Projects, which have won awards, offer a lavish lifestyle and first-rate amenities in major cities like Chennai, Bangalore, Goa, Kochi, Hyderabad, and Mysore. Over 200 projects in the residential, hotel, commercial, retail, recreational, and educational sectors have been finished by The Prestige Groups.
Bangalore Namma Metro
The majority of the main cities in India have metro systems that serve them. Thanks to this fast mode of transportation, everyone can go where they need to be quickly. Additionally, it is the preferred mode of transportation for people who commute regularly. The metro is the best option while travelling, whether for work, leisure, amusement, socialising, or anything else.
Bangalore, which has a population of over 8 million, is the second-fastest expanding major city in India. The four major districts of the city are North Bangalore, South Bangalore, East Bangalore, and West Bangalore.
One of the most crucial elements in residential real estate is connectivity. When investors search for a potential investment zone, connectivity and proximity to business and IT hubs are crucial factors to take into account.
The backbones of the real estate sector are infrastructure development and connectivity, which ensure that people's basic requirements are addressed. Travel time between places has a significant impact on investors looking for well-connected residential regions in a crowded metropolis like Bangalore.
The Bangalore metro line is also known as the Namma Metro (means "Our Metro" in Kannada) The Namma Metro is the first metro line in South India. Bangalore Metro Rail Corporation Limited is equally owned by the governments of India and Karnataka (BMRCL). On October 20, 2011, it was declared to be operational. Two metro lines have already been finished, two more are being constructed, and work on a third line will soon start. Services are available every day from 5:00 till 23:30.
A 26.10-kilometer line with 23 stops is included in the project. From Baiyappanahalli in the east to Mysore Road in the west, it reaches. It also has a north-south route with 30 stations and a length of 28.20 kilometres. At the Silk metro station in the north, it comes to an end at Nagasandra.
Metro lines include the following: The purple line displays the East-West Metro Line. a green north–south metro line. Passengers have the option of changing lines at the Kempe Gowda Station merger of the two lines. Stations that are elevated, at grade, and underground can be found on the metro lines. Six carriages are now available on Namma Metro. Currently being built is the second segment of the metro line. It will be possible to connect the city's two largest IT clusters, Electronic City and Whitefield.
The eastern section of the Outer Ring Road will also be included (ORR). From north Bangalore to the Kempegowda International Airport, the Namma Metro will travel.
As a result of the Namma Metro system, Bangalore citizens now have newfound hope for the future. The metro is popular among long-distance travellers because it allows them to avoid traffic. The goal can also be rapidly attained. The residents of the city now have simpler lives. Along with the remainder of the significant enclaves of the city, the suburbs will also be soon covered. Those who have made reservations for homes in the region are looking forward to Namma Metro's arrival. The metro line is one of the best gifts the city has ever received, especially given the size of its population. These days, choose the best mode of transportation is straightforward.
Connection to North Bangalore
Enhanced connectivity, comparably lower land costs, expansive land areas, rising capital values of the property, and a wealth of investment options have all contributed to North Bangalore's exceptional growth in recent years. Due to its superior social and physical infrastructure, it is the most favoured area among the people.
The largest airport in Bangalore, Kempegowda International Airport, is located in the northern outskirts of the city, which is also home to a sizable number of IT networks, including enormous IT giants and Business Parks. Among the most important IT parks are Manyata Tech Park, Hardware Tech Park, Aero Special Economic Zone, Aerotropolis, Special Economic Zone (SEZ), International Tech Park, and the planned Information Technology Investment Region (ITIR).
Devanahalli is connected to all other important neighbourhoods of Bangalore by the six-lane Bellary Road, popularly known as NH7. The trip to Yelahanka and Hebbal takes only 20 minutes. The IVC route proposes to construct an expressway connecting Bellary Road, NH 207, and Tumkur Road with Bangalore's Kempegowda International Airport. Hyderabad is reached by Bellary Road, Hoskote is reached via NH 207, and Bangalore is reached via Tumkur Road (towards Mumbai).
By connecting Bellary Road, Old Madras Road, Hosur Road, Mysore Road, and Tumkur Road, the outer ring road enhances communication. The Outer Ring Road, SH 35, and NH 44 are three well-maintained important roadways that go directly to Ittangur's Prestige City.
One of the most popular neighbourhoods in the city is home to a variety of prestigious educational institutions, healthcare facilities, entertainment hotspots, and recreational services. Due to advancements in infrastructure, regional linkages, and governance, Sarjapur Road, Sarjapur Road North Bangalore has had a considerable impact on residential real estate.
Bangalore's kinship with the South
There are numerous native residents who have had a big impact in South Bangalore, sometimes known as the "old Bangalore." The neighbourhoods around this part of the city include Banashankari, Bannerghatta Road, Mysore Road, Koramangala, Electronic City, Jayanagar, JP Nagar, and Ramanagara. Jayanagar is a renowned neighbourhood with excellent roadways and infrastructure.
South Bangalore is conveniently close to the significant IT hubs of Electronic City and Mysore Road. With the addition of the Global Village Tech Park, Embassy Golf Link, and the renowned IT behemoths in Electronic City, the neighborhood's social and physical infrastructure will be improved.
Because NICE Road and Outer Ring Road exist, the southern part of the city is extremely well connected to all other important districts. The Prestige City is conveniently located in Ittangur Village on Sarjapur Road and is reachable from both NICE Road and the Outer Ring Road. Namma Metro Lane, which is now in use, will connect the city's south and north sides, improving connectivity in South Bangalore.
South Bangalore is home to a variety of famous organisations, schools, hospitals, pharmacies, retail malls, gas stations, restaurants, and entertainment facilities in addition to other needs for a comfortable and wealthy living environment. The area's outstanding physical infrastructure, which includes large roadways, flyovers, and underpasses, also contributes to meeting the region's rising housing demand.
Bangalore's West's connectivity:
West Bangalore, which includes industrial neighbourhoods like Sondekoppa, Magadi Road, Peenya, Tumkur, and Tavarekere Town, is one of the most well-known parts of the city. Due to their significant industrial presence, the Wes villages have emerged as prospective places with improved connectivity, upcoming commercial developments, and metro corridor extension.
Excellent access to important industrial hubs like Bidadi, Peenya, and Tumkur benefits the western suburbs. The main roads leading to Mysore and Tumkur are only a short distance away, while the outer ring road connects to the Kempegowda International Airport. Additionally, the region offers top-notch transportation choices, including BMTC buses, personal taxis, and 100 percent.
Because West Bangalore offers easier access to the IT hubs in the north, east, and south, it is necessary for professionals to live there. One of the most effective travel routes, NH 75, is directly accessible from this development on Sarjapur Road. The open Namma Metro Lane now connects the western suburb to the rest of the city.
West, one of Bangalore's most well-known residential neighbourhoods, boasts great connectivity, a variety of important educational institutions, healthcare facilities, business hubs, entertainment venues, and retail establishments.
Bangalore's East's connectivity:
East is where most people live and work in Bangalore. Locals and professionals in the workforce frequent this place. Bellandur, CV Raman Nagar, Hoodi, Krishnarajapuram, Mahadevpura, Marathahalli, Varthur, Sarjapur Road, and Whitefield are some additional excellent neighbourhoods. The neighbourhood has experienced amazing growth as a result of the emergence of IT businesses and the upgrading of connections and infrastructure.
The outer ring road connection from Silk Board Junction to Hebbal, Electronic City, and Whitefield is the most crucial connectivity route in Bangalore's eastern sector. Demand for residential investments in the area has surged as a result of the Namma Metro Phase 1 project, which connects East Bangalore's Byappanahalli extension with the central city.
The ease of travelling in this area will be substantially improved by the Whitefield-Byappanahalli Metro Phase 2 project, which is now being constructed. The numerous flyovers and underpasses in the area are a blessing for the local working professionals.
Sarjapur Road is the location of the luxury housing development in Ittangur Village. Some of Bangalore's best business districts, educational institutions, healthcare facilities, entertainment hubs, and shopping centres are all conveniently close to the property. East Bangalore is one of the most well-liked areas for residential living because of its convenient location.
Prestige Park Grove is a house in Bangalore's Whitefield neighbourhood that is worth taking into consideration. Elegant 1, 2, and 3 BHK apartments as well as retail spaces in a range of styles are available in this residential complex. It was built on the Whitefield estate. This is one of the main reasons for the region's strong housing demand.
The area provides a great connection, allowing users to reach their homes fast. Whitefield also serves as a link between the city's major districts. Due to its proximity to the city's centre, it is one of the most sought-after residential areas. No properties are being considered for great apartments in the area. If you wish to update your modern living environment in this region, you might rent a Prestige Park Grove Whitefield apartment.
The costs are reasonable at Prestige Park Grove Bangalore. Whitefield has experienced equal growth in both residential and commercial property in recent years. A hospital, a bank, schools, hotels, shopping malls, universities, and other amenities are nearby the proposed site.
Those who reside here and lease out commercial real estate are near their place of residence. Excellent connections and transportation are available throughout the city. Apartments are now easier for residents to access. Accessible locations include major thoroughfares, railroad stations, airports, and metro stations.
It is an honour to reside at Prestige Park Grove Whitefield. On the other hand, it is projected that Bangalore would develop into a centre for creativity. There is a substantial amount of land. The apartment building has several opulent characteristics. The interiors of the flats are tastefully designed, and they are outfitted with premium items.
Bangalore has a growing demand for new homes. There is a huge demand for lovely apartments with first-rate amenities and loads of room. They will have access to future high-rise amenities and facilities, such as an amphitheatre, ice rink, exercise station, badminton court, basketball practise court, convenient shopping, a luxurious clubhouse with entertainment and leisure facilities, adequate firefighting provision on each floor, a daycare centre, 24 hour security, three tier security, and more. During peak hours, a large number of vehicles can fit in the tidy parking area.
Prestige Park Grove in Whitefield is a gorgeous new residential township with all of today's comforts, built by the renowned South Indian real estate tycoon The Prestige Group. For people who set a great value on happiness, this ultra-luxurious residence was specifically built. The largest and most elegant work by The Prestige Group has been acknowledged.
The residential community of Prestige Park Grove offers its residents a serene and opulent ambience through its elegant design.
Large and well-equipped apartments are available in this community.
The exclusive and affluent neighbourhood where the Prestige Park Grove apartments are located is encircled by breathtaking surroundings.
On vast acres of land, the 1 BHK, 2 BHK, and 3 BHK homes in the Prestige Park Grove township will be built. Prestige Park Grove in Whitefield, which is now in the pre-launch stage, will receive ownership as soon as the project is finished. Every product on the market is Vaastu compliant.
Three-bedroom apartments in Prestige Park Grove cost between Rs. 1.42 crore and Rs. 1.60 crore, while one-bedroom apartments cost between Rs. 70 lakh and Rs. 95 lakh. Two-bedroom apartments in Prestige Park Grove cost between Rs. 1.10 crore and Rs. 1.32 crore. As soon as it is practical, the exact price will be made available on the website. It is on the verge of becoming India's largest modern, self-sufficient township.
When you reside in Whitefield, you quickly realise how much nicer life is than in other parts of town. Whitefield is well connected by road, train, and air as a result of its favourable location on Old Madras Road (National Highway 4). Thanks to the area's good road connectivity, you can get there quickly.
Hoodi, which is 3.5 kilometres distant, is the closest railroad station. The Whitefield Main Road connects Varthur Road and Old Airport Road, facilitating access to other crucial areas. Another advantage is that Marathahalli offers unrivalled access to the Outer Ring Road. SH 104 provides easy access to Kempegowda International Airport (49 km away).
It's crucial to live close to reputable educational institutions so that your kids can have access to a variety of work prospects. Due to the abundance of schools and organisations available, Whitefield is an excellent place for parents to raise their children.
Some of the well-known schools in the region include National Public School (NPS), Whitefield, Deans Academy, DPS, Whitefield Global School, Chrysalis High School, VIBGYOR and Vydehi Institute of Medical Sciences, and MVJ College of Engineering.
Prestige Park Grove in Whitefield, Bangalore, is close to Ascendas Park Square Mall, Inorbit Mall, Forum Value Mall, the hotels Taj Vivanta, Zuri, and Marriott Whitefield. Prestige Park Grove is only a short stroll from a brand-new metro station. Prestige Park Grove in Whitefield is close to large businesses like IBM, Oracle, TCS, SAP Labs, Qualcomm, Accenture, Mercedes-Benz, and others. The Columbia Asia and Vydehi Hospitals, two prominent medical facilities, are located not far from this residential area.
Whitefield, a well-known Bengaluru neighbourhood, is renowned for its amenities and handy location. Due to the large number of enterprises moving here, the town will soon be overwhelmed by residents with a wide range of needs. Whitefield is well worth the investment for the builders and a well-connected location for the residents, with a number of residential structures being developed there.
Apartments are the most popular type of lodging, especially in urban areas. The word "apartment" is frequently used to refer to any dwelling unit found inside a structure. Apartment houses are buildings having numerous residential units; while most apartments are designed for household use, apartment complexes may also include stores and other non-residential facilities. Apartment houses are often referred to as apartment blocks or blocks of flats. In an apartment house, the living room, bedroom, bathroom, and kitchen are all combined into one huge area. Small, cosy flats come with lots of conveniences. For single people who want to live close to their places of employment or higher education, an apartment complex is a great option.
Because of this, the scale of a structure might range from that of a single-family home to that of a big residential complex, a townhouse, or even higher buildings known as apartments. For many individuals, an apartment is just a residence inside of a structure. This suggests that an apartment is only one among a variety of residences present within the same building.
The Prestige construction company has built both residential structures and villas. The most recent addition to the group is Prestige Park Grove, a lavish condominium with a substantial number of apartments for rent. The Prestige group's future residential project is a massive apartment complex with 1 and 2 BHK units and fantastic amenities. On 80 acres of land, it will be located. Prestige Group has reached another significant milestone by beginning this project for upcoming luxury residences. The Prestige group plans the apartments it constructs to offer the finest possible ventilation, space utilisation, and security.
The condos were designed with efficiency and space in mind by the pros at the Prestige construction firm. From the flats in the Prestige complex, you can walk to the World Trade Center, International Tech Park, Indian Institute of Management, Electronic City, and Plantation Road. The planned Prestige project has several outstanding ideas and will be a wonderful place for both young people and senior residents to live. The building's interior is filled with many fascinating features that were built with the best materials, including gardens, Joggers Park, play areas, spacious apartments, and gyms. This new Prestige apartment complex's first-rate living accommodations will all promote people's overall welfare.
Many people have discovered a nice, suitable house in the Prestige Finsbury Park, Royale Gardens, Primrose Hills, and other Prestige group developments. The Prestige Builder project consists of tastefully built 1, 2, and 3-bedroom residences in high-rise buildings that provide a variety of condominiums from which homeowners can choose the one that best suits their needs. In many of the buildings owned by the Prestige group, the enormous open spaces that surround each tower enable minimal planning while still offering comfort, natural light, and ventilation. Prestige Group offers BKH condominiums with one, two, and three bedrooms in the high-tech city. These apartments provide a stunning rise and the newest in premium amenities.
Communities that have Prestige Park Grove Apartments provide amenities that improve the standard of living for the locals. The majority of the time, on-site amenities will enable you to save both time and money. Simply said, the best apartment amenities make your life easier while also improving it. If you're searching for a complex with a pool or apartments with in-unit washers and dryers, you should prioritise which amenities are most important to you and those you'll use frequently. Even though it's unlikely that a single apartment complex would satisfy every item on your wish list, making a list of priorities will help you locate a neighbourhood that has the amenities you require. The amenities in your apartment building determine how much time you spend there when you're not at home. Are the amenities appropriate for the community's growth? Are there any events that promote a welcoming environment? Every amenity you provide for your residents should benefit them in some way. These high-end apartment amenities, which include everything from a smart thermostat to an on-site pet spa, provide tenants with a lot of convenience.
Your building's occupants can make advantage of a number of pet-friendly amenities. Choose the one that will cost you the least and yield the highest return on your investment. For instance, a designated dog park inside the structure would be quite beneficial to dog owners. Start a pet spa in your building as an alternative, albeit more expensive. Regardless, having luxurious pet facilities on your home would be appreciated by pet owners. Use of Wi-Fi with a fast data rate is now required. Make sure your residents have a strong sense of community in the communal areas. They can insist on having a conference call at a coworking space, viewing a movie in the lounge, or listening to music in the gym. This particular amenity in a luxury property is quite cost-effective. As more people opt out of traditional workplace settings, coworking space is becoming increasingly significant to communities. However, don't limit yourself to a couple desks and a printer! If you want to give residents a comfortable environment to live, consider including amenities like conference rooms, snack bars, and coffee shops. Create a work environment that people want to be in! Taking advantage of the possibility to offer smart features now is a great way to develop a long-term high-end apartment amenity and remain ahead of the internet-of-things curve because smart homes and apartments are the future. Renovating older apartments or adding smart features to brand-new homes or structures is surprisingly simple and economical. For instance, smart thermostats are inexpensive and simple to install since they enable homeowners to remotely regulate their heating and cooling. After evictions, a property manager can quickly switch the system off. You may provide your tenants with a luxurious apartment amenity that is both distinctive and ecologically beneficial by installing smart locks and light switches.
Having a gym in the building would be beneficial for everyone, whether your tenants are families or millennials trying to stay in shape. These premium apartment complexes give inhabitants the space they need to stay in shape, whether it is through lap swimming, coaching their children in basketball, or attending an early-morning yoga class.
In fifteen years, a resident exercise facility might have consisted of a tiny room with a treadmill and an elliptical machine. Residents now have higher expectations for their fitness centres since healthy living is trendy. To meet their needs, think about opening a yoga studio, providing other specialty services, or scheduling workout sessions. Your neighbours will appreciate you for it. Any property can benefit greatly from having both of these premium apartment amenities. A lap pool is ideal for athletes and others who wish to stay in shape without using a treadmill, on the one hand. Lounge pools are a terrific addition for families and anybody else looking to get a tan while residing in their building. The time is now to set yourself apart from the competition. It's a great idea to play pick-up basketball or tennis to meet new people. Tennis or basketball courts are among the sports features that your tenants will cherish having access to, whether they host friends or organise a game with their neighbours. Finally, this opulent apartment feature is useful because it provides a venue for competition, networking, and physical activity. A green area is the ultimate high-end luxury for city residents. After a hard day, residents can relax in a well-planned, cosy setting with abundance of vegetation.
Residents can take advantage of a green space to entertain guests and take in some fresh air after a long day at work, even if they reside in a less urban area. The rooftop terrace is a significant perk among the opulent residential facilities for occupants. Not only might it offer breathtaking views and a fantastic venue for an event, but the inhabitants would be happy to brag about it to their friends. The rooftop features a pool, a fire pit, loungers, and plenty of comfortable sitting. Make up your own story! Anything that allows your inhabitants to unwind in the sun and enjoy a breathtaking perspective of their city will be valued. For your rooftop deck or green space to shine, add an outdoor kitchen, a grilling area, and lots of tables and chairs. By making a few small adjustments like these, the neighbourhood can appear more hospitable and ready for a resident's impending birthday party or summer BBQ. Just make sure it is flexiblely structured so that locals can utilise the space for a range of purposes. Having a coworking space is great, but when the roof deck or outdoor space is covered for the winter, your residents will need a place to hang out. Make a welcoming atmosphere where residents can mingle while playing pool or board games. Take your time setting up this area. An place that is overly bright or harsh won't be used by residents! This luxurious apartment amenity should have a more café-like atmosphere than an ordinary office.
Would you like to motivate your neighbours to strike up conversations with new people, raise their own food, and reduce their grocery bill? This opulent residential element may have significant advantages for your building. Gardening can help people re-establish a connection with nature, especially for city inhabitants. To teach others how to get started, just organise a few educational workshops led by a gardening expert. As far as high-end residential extravagances go, a virtual golf simulator is about as fancy as it gets. If you think your current or prospective renters would enjoy it, a virtual golf simulator might be a fun and intriguing facility to offer. Particularly if there aren't many golf courses nearby, locals could be willing to pay more to use this fancy facility. Check your resident profile to see if this institution is a good fit for you. A private spa is among the most expensive add-ons offered. But who among the residents would object to having one? This elite home luxury includes heated swimming pools, steam rooms, and private massage rooms. You have two options: work with a reputable spa to create a private space in your building, or do everything yourself. Offering this convenience would, in any case, be a dream come true for many locals! This exclusive apartment feature will make your building stand out from the competition. Consider installing a Starbucks or other coffee shop on the first level of your property to make it simpler for renters to wake up in the morning. Permit other businesses to open exclusive stores on your land, such a Trader Joe's, a juice bar, or a hair salon. If you really want your residents to feel like they are dwelling in luxury, this is a great option to consider. You're well aware, no doubt, that younger tenants like opulent in-unit amenities. Among the amenities are outdoor terraces, walk-in closets, and in-unit laundry.
Consider making small adjustments to improve the comfort, convenience, and overall wow factor of the property for your residents. A great apartment may contain amenities that draw inhabitants in from the kitchen to the bathroom to the bedroom. It can be necessary to provide these luxury in-unit features, such hardwood floors or modern appliances, to entice new residents.
A theatre or screening room is an inexpensive yet thrilling enhancement to a home. It will be a hit with the locals, and creating it is lot easier than you may imagine. This space can be rented for neighbourhood movie nights or for folks to show their most recent projects to friends and family. Install a projector, then demonstrate how to use the area to the residents. This luxurious apartment feature will be much cherished by your tenants. Your neighbours would appreciate it if you make exhibiting environmental responsibility straightforward. You may either make sure that each building has a convenient recycling centre, or you could install recycling bins in each floor, as per your preference. The implementation of energy and water efficiency improvements will give you, your residents, and the environment financial advantages. Another choice is to install solar panels on your roof that can operate in tandem with your current water heating system. These luxurious housing facilities' long-term financial savings, resident satisfaction, and environmental benefits will pay for themselves! In this approach, Prestige Park Grove will offer superb amenities. At the future Prestige Group project Prestige Park Grove, you can expect to find a wide range of amenities.
RERA ACT for Developers and Investors
An upcoming development in Whitefield is called Prestige Park Grove.
Everybody wants to purchase a home. Although real estate costs continue to be high in relation to income levels, not everyone can afford to buy a home.
Even worse, although there used to be individual criteria for each developer or builder, there are now none. Every builder had their own set of procedures, and they all designed the builder-buyer agreement to their own advantage.
The rights of the average person investing their entire life savings in real estate are severely constrained. The government passed the RERA Act to defend the rights of homebuyers and make sure that builders and developers do not take advantage of them.
Why does RERA exist?
The Real Estate Regulations Act (RERA), which was passed in 2016, was created to safeguard homebuyers' interests. RERA's primary goal is to protect buyers from dishonest building practises.
Real estate transactions will be more transparent because to RERA's stipulation of specific building and development standards.
It has set particular laws and regulations that all developers and builders must abide by and has granted homebuyers a number of rights.
Additionally, each state must set up a Real Estate Authority and an Appellate Tribunal in accordance with the RERA Act. Property buyers may lodge a complaint with this organisation if the builder or developer commits an error.
Benefits of RERA ACT Standard carpet size:
The carpet area that went into determining a home's pricing was not previously mentioned. Varying builders/developers assigned different carpet area estimates.
The carpet area for the same flat might be estimated by one builder at 1500 square feet and by the other at 1400 square feet.
As there was no established method for calculating the Carpet Area, this used to occur. As opposed to this, the RERA Act makes clear that all builders and developers must use the same formula to determine carpet area.
The term "carpet area" refers to the net useable floor area of an apartment, excluding portions covered by exterior walls, regions below services shafts, exclusive balconies or verandas, and exclusive open terraces, but including the area covered by the interior partition walls of the apartment.
This would introduce standardisation in the calculation of Carpet Area because the idea of Carpet Area has been rigorously developed.
The majority of developers base their fees on carpet area, which has a direct effect on the cost of real estate. Builders calculate a property's cost using the formula below:
Property Cost = Carpet Area x Rate per Square Foot
The Carpet Area used to be overstated by builders, driving up the cost of the property as a result. Developers won't be able to modify the computation of Carpet Area in order to artificially raise costs, nevertheless, as the procedure for doing so has been distinctly established by RERA.
Interest rate for default:
If the buyer defaults on payment or the builder fails to complete the project, all parties are required to pay interest at the same rate.
In the past, the builder used to receive a lower interest rate from the home buyer if the builder delayed giving the buyer possession of the property, and the buyer used to give the builder a higher interest rate if the buyer defaulted.
There was no equivalent interest payment between the two parties. Both parties must now pay the same interest rate, as stated plainly under the RERA Act.
Reduces the Risk of Bankruptcy for a Developer:
A developer typically has several projects going at once. Previously, contractors were permitted to move funds from Project A to Project B's building.
This is no longer viable because the builder must now deposit 70% of the project's revenue in a separate bank account as a result of the implementation of RERA. A civil engineer, an architect, and a chartered accountant in good standing must all certify the project's completion before the owner can withdraw money from such an account.
The funds cannot be utilised for other initiatives or objectives; therefore, they will only be used for the purpose for which they were raised.
There have been instances in the past where a builder obtained money from house buyers with the intention of constructing their residences, but the money was afterwards utilised for other purposes. They were unable to complete the building because they eventually declared bankruptcy.
The money won't be wasted because it can only be used for what it was intended, and it will be used to finish the project on time.
The following rights are available to the buyer in the case that the vendor makes a false promise:
The buyer has the right to cancel the project and get a full refund of any money paid in advance or otherwise, along with interest and compensation, if the builder's obligations and the actual project differ.
Before entering into a selling agreement, the builder may demand an advance or application fee equal to up to 10% of the price of the apartment, villa, or other property.
Rights of the Buyer in the Event of a Defect After Possession:
Within five years of taking ownership of the apartment, if a structural issue or a flaw in the builder's work, quality, provision, or service is found, it will be fixed free of charge within 30 days.
The buyer is entitled to reimbursement if the builder doesn't fulfil these duties.
The buyer's rights and possession hold-up
If the builder doesn't finish the project by the deadline, the customer has the following options:
can cancel the project, in which case he would be entitled to a full refund plus interest from the due date of completion until the money was returned.
If he continues to work on the project until it is finished, he is entitled to compensation as well as interest from the project's due date until it is really finished.
Let's say the project wasn't able to completion on 31.3.2022 as it was intended to. You have until January 1, 2022 to leave the project as a result. If you decide to leave the project, you will be entitled to interest starting on January 1, 2022 until the payment is made.
If you don't abandon the project and it is finished on 31-3-2024, you will be entitled to interest each month from 31-3-2022 to 31-3-2024.
In the event of a title defect, the buyer is entitled to the following:
If you discover a problem with the property's title after you've taken possession of it, you can file a claim for reimbursement against the builder. There is no deadline, therefore you are not required to find the problem right away.
The buyer will have access to all project data, including the design of the plan, the execution strategy, and the progress of each step of completion.
Establishing a Grievance Resolution Authority:
The state agency established by RERA, which will have jurisdiction over all complaints, can receive any complaint against the builder. If you don't agree with the ruling, you can appeal it to the Appellate Tribunal, which will either determine your case within 60 days or, if that's not possible, will explain why it didn't.
Before an appeal to the Appellate Tribunal can be heard, the builder must deposit at least 30% of the fine, or whatever higher percentage the Appellate Tribunal decides, or the full amount that must be paid to the allottee, including interest and any compensation that may have been imposed on him, if any, or both, depending on the situation.
Role of RERA in a Situation
To the exclusion of the following, RERA is applicable to all developers and builders:
when the developer obtained a completion certificate before RERA went into effect and the project won't require more than eight apartments or 500 square metres of land.
Any apartment, plot, or building that is being marketed, advertised, or sold with the intention of renovating, repairing, or developing it is not covered by this.
Other Things to Consider
Rental properties are unaffected by RERA; only real estate development is. All residential and commercial projects, including buildings, offices, and retail establishments, are subject to RERA. RERA's scope of application RERA is applicable to all builders and developers, with the following exceptions: To guarantee that every family has their own home, the government established the Pradhan Mantri Awaas Yojana, which offers a financial subsidy for home purchases.
RERA ACT advantages Standardized carpet area:
Before, the carpet area used to determine a home's price was not specified. Each builder/developer computed the Carpet Area in a unique way.
One builder would estimate the carpet space for the same apartment to be 1500 square feet, while the other would estimate it to be 1400 square feet.
This used to occur since there was no established formula for determining the Carpet Area. Contrarily, the RERA Act makes clear that this is the case, and all builders and developers must calculate carpet area using the same technique.
"Carpet area" refers to an apartment's net usable floor area, which excludes regions protected by exterior walls, spaces beneath utilities shafts, exclusive balconies or verandas, and exclusive open terraces, but which includes the area protected by the interior partition walls of the apartment.
Given that the definition of Carpet Area has been properly defined, this would bring about standardisation in the computation of Carpet Area.
The majority of developers base their fees on carpet area, which has a direct effect on the cost of real estate.
Builders use the following formula to determine the cost of a property:
Carpet Area x Rate per Square Foot equals Property Cost.
In the past, builders would exaggerate the Carpet Area, driving up the cost of the property. However, because the method for determining Carpet Area has been clearly set by RERA, developers will not be allowed to manipulate the calculation of Carpet Area in order to increase prices.
Interest rate in case of default
All parties shall pay the same rate of interest in the event of Buyer's default in payment or Builder's failure to complete the Project.
Previously, the interest paid by the builder to the home buyer was lower if the builder delayed possession of the property, while the interest paid by the buyer to the builder was higher if the buyer defaulted.
Between the two parties, there was no equivalent interest payment. The need that the interest rate be the same for both parties is now expressly stated in the RERA Act. Reduces the Risk of a Developer Going Bankrupt:
A developer typically has several projects under construction at once. Previously, builders were allowed to transfer money made from Project A to Project B's building.
This is no longer permitted because the builder is now compelled to deposit 70% of the project's revenue in a different bank account as a result of the introduction of RERA. He is only permitted to withdraw funds from such an account when the project has been completed and approved by a practising chartered accountant, civil engineer, and architect.
The money will only be used for the reason for which it was raised because it can no longer be utilised for other projects or purposes.
There have been cases in the past where a builder collected money from home owners to build their homes but then used the earnings for other uses. They later declared bankruptcy and were unable to finish building the property.
The funds won't be misappropriated because they can only be used for the purpose for which they were raised, and they will be put to use for that purpose, guaranteeing that the project is finished on schedule.
Buyer's Rights Against False Promises:
The buyer has the choice to leave the project if the builder's duties and the actual project are different. In this situation, he is entitled to a complete refund of any money paid in advance or otherwise, along with interest and compensation.
The builder may demand up to 10% of the price of the apartment, villa, or other property as a down payment or application fee prior to entering into a selling agreement, as applicable.
Right of the Buyer in the Event of a Defect After Possession:
Within five years of taking ownership of the apartment, if a structural flaw or a flaw in the builder's work, provision, or service is discovered, the flaw will be fixed without charge and within 30 days.
The buyer is entitled to compensation if the builder doesn't accomplish this.
Rights of the buyer Neglected possession:
The following choices are available to the buyer if the builder doesn't complete the project by the deadline:
to abandon the project, in which case he will be given a complete refund with interest calculated from the required date of completion until the amount is paid back.
Continue working on the project until completion, at which point he will be eligible for payment and interest accrued from the project's due date until it was really finished.
For instance, let's say the project wasn't able to be finished on 31.3.2022, as planned. You can therefore cancel the project up until January 4, 2022. You are entitled to interest starting on January 1, 2022 and continuing until the payment is made if you decide to abandon the project.
In the event that you decide not to abandon the project and it is finished on 31-3-2024, you will be eligible to receive interest payments every month from 31-3-2022 to 31-3-2024.
The following rights belong to the buyer in the event of a title defect:
After acquiring ownership of the property, you have the right to sue the builder for damages if you find a flaw in the title. It is not time-barred, therefore you are not required to identify the error within a specific window of time.
The buyer will have access to all project data, including the execution plan, plan layout, and stage-by-stage progress.
Development of a Grievance Redress Authority:
Any complaint against the builder can be made to the state body established under RERA, which would have the authority to handle all complaints. If you disagree with the decision, you may file an appeal with the Appellate Tribunal, which will decide your case within 60 days or, if that is not possible, will note the reasons why it was unsuccessful.
Before the appeal is heard, the builder must deposit at least 30% of the fine, or any higher percentage that the Appellate Tribunal may decide, or the full amount that must be paid to the allottee, including interest and any compensation that may have been imposed on him, if any, or both, depending on the situation.
Applicability of RERA
RERA is applicable to all builders and developers, with the exception of the following:
When the promoter got a completion certificate prior to the implementation of RERA, the amount of land being developed is under 500 square metres, or the number of apartments being built is under eight.
without promoting, advertising, or selling any unit, land, or building, for the purpose of renovation, repair, or redevelopment.
RERA does not apply to renting out real estate; it only covers real estate development.
RERA applies to all housing and business projects, including buildings like shops and offices.
The government has introduced the Pradhan Mantri Awaas Yojana, which offers a financial subsidy for home purchases, to ensure that every family has their own home.
Benefits of RERA ACT
Standardized carpet area:
Previously, the carpet area used to compute the price of a home was not defined. The Carpet Area was calculated differently by each builder/developer.
The carpet space for the same flat would be calculated as 1500 square feet by one builder and 1400 square feet by the other.
Because there was no standard formula for calculating the Carpet Area, this used to happen. The RERA Act, on the other hand, has explicitly specified this, and all builders/developers will use the same formula to calculate carpet area.
"Carpet area" refers to an apartment's net useable floor area, excluding regions covered by exterior walls, areas under services shafts, exclusive balcony or verandah area, and exclusive open terrace area, but including the area covered by the apartment's internal partition walls.
This would introduce standardisation in the computation of Carpet Area because the definition of Carpet Area has been precisely specified.
Because most developers charge on the basis of carpet area, this has a direct impact on real estate pricing. The following is how a property's price is calculated by builders:
Property Cost = Carpet Area x Rate per Square Foot
Previously, builders would overstate the Carpet Area, causing the price of the property to rise as well. However, given that RERA has clearly established the technique for calculating Carpet Area, developers will not be able to manipulate the calculation of Carpet Area in order to raise prices.
Interest rate on default:
In the event that the buyer defaults on payment or the builder fails to complete the project, all parties must pay the same rate of interest.
Previously, if the builder delayed possession of the property, the interest paid by the builder to the home buyer was lower, and if the buyer defaulted, the interest paid by the buyer to the builder was higher.
There was no interest payment equivalence between the two parties. The RERA Act now clearly states that the interest rate for both parties must be the same.
Reduces the Chances of a Developer Going Bankrupt:
A developer normally has numerous projects under construction at the same time. Previously, builders were permitted to move cash generated from Project A to Project B's building.
This is no longer allowed since, with the implementation of RERA, the builder is required to deposit 70% of the project's revenue in a separate bank account. He can only withdraw money from such an account once the project is completed and certified by a civil engineer, architect, and a practising chartered accountant.
Because the funds can no longer be diverted to other projects or utilised for other purposes, they will be used only for the purpose for which they were raised.
There have been instances in the past where a builder gathered funds from home buyers for the purpose of constructing their homes but then utilised the proceeds for other purposes. They later went bankrupt and were unable to complete the property's construction.
Because the funds can only be used for the purpose for which they were raised, they will not be diverted and will be utilised for the purpose for which they were raised, ensuring that the project is completed on schedule.
Buyer's Right in Case of False Promises:
If the builder's obligations and the actual project differ, the buyer has the option to withdraw from the project, in which case he is entitled to a full return of any money paid in advance or otherwise, plus interest and compensation.
Before engaging into a sale agreement, the builder may take up to 10% of the cost of the apartment, villa, or other property as an advance or application fee, as the case may be.
Buyer's Right in Case of Defect After Possession:
If a structural defect or a defect in craftsmanship, quality, provision, or service is detected within 5 years of the apartment's possession, the builder will rectify the defect at no additional cost within 30 days.
In the event that the builder fails to do so, the buyer is entitled to compensation.
The buyer's rights Delay in possession:
If the builder fails to finish the project by the deadline, the buyer has the following options:
To withdraw from the project, in which case he will receive a full refund plus interest from the due date of completion till the sum is reimbursed.
Continue with the project until it is done, in which case he will be entitled to compensation as well as interest from the project's due date until it is really completed.
For example, suppose the project was meant to be completed on 31-3-2022 but was unable to do so. So you have till 1-4-2022 to withdraw from the project. If you opt to leave the project, you will be entitled to interest from January 1, 2022 until the payment is received.
If you decide not to withdraw from the project, and the project is completed on 31-3-2024, you will be entitled to interest every month from 31-3-2022 to 31-3-2024.
In the event of a title defect, the buyer has the following rights:
If you discover a fault in the title of the property after you have taken ownership of it, you can sue the builder for compensation. It is not time-barred, which means you do not have to find the flaw within a certain amount of time.
The buyer will have access to all project information, including the plan layout, execution plan, and stage-by-stage completion status.
Establishment of a Grievance Redress Authority:
Any complaint against the builder can be brought to the state body established under RERA, which will have the jurisdiction to resolve all complaints. If you are unhappy with the order, you may submit an appeal with the Appellate Tribunal, which will resolve your case within 60 days or, if that is not possible, will record the reasons for the failure.
If the builder wishes to appeal the Authority's order to the Appellate Tribunal, he must deposit at least 30% of the penalty, or such higher percentage as the Appellate Tribunal may determine, or the total amount to be paid to the allottee, including interest and compensation imposed on him, if any, or both, as the case may be, before the appeal is heard.
Except for the following, RERA applies to all builders and developers:
Where the promoter has received a completion certificate before the introduction of RERA and the area of land proposed to be developed does not exceed 500 sq metres or the number of flats scheduled to be constructed does not exceed 8.
For the purpose of renovation, repair, or redevelopment that does not include the promotion, advertising, or sale of any apartment, plot, or building.
RERA only applies to property development and not to property rentals.
All residential and commercial projects, including stores, offices, and structures, are covered by RERA.
To guarantee that every family has their own home, the government has launched the Pradhan Mantri Awaas Yojana, which provides a loan subsidy for home purchases.
The Prestige Group will soon begin construction on Prestige Park Grove in Whitefield.
The developer of the residential complex, The Prestige Group, is known for producing products of the highest calibre. For the buyer seeking a fantastic rental and resale value, Prestige Park Grove is an excellent investment. All of this well-known developer's projects are guaranteed to be of the highest calibre.
Additionally, the project's location offers great investment potential. These days, Whitefield in Bangalore is a well-liked neighbourhood with expensive real estate. A home in this neighbourhood is worth more because so many people are seeking for rentals there.
You are making an investment when you spend money to acquire a financial asset or expand one while simultaneously setting aside money from your hard-earned wage. Therefore, an expenditure that generates profit is a financial investment. Investing's primary goal is to raise revenue or profit over a particular time period through speculation. A gain (profit or benefit) or loss realised from the sale of a home or investment, concealed capital appreciation (or deterioration), speculation pay like profits, interest, or rental income, or a combination of capital gain and pay are all possible inclusions in the return. Gains or losses that are reflected in the return may be the result of fluctuations in foreign exchange rates. If you want to maximise your profits, picking the right property to invest in is essential. Property speculation frequently offers a better long-term return than investing in future stocks since it is less risky and less certain. Compared to traditional stock profit yields, investments in rental properties generate a consistent and predictable revenue stream that generates positive cash flow at a faster rate. Due to this, making an investment in a real estate project or rental property will be a safer and more lucrative choice. Many financial investors with single-family home holdings may not have the luxury of hiring a third-party property manager due to the size of their portfolio. On the other side, multifamily real estate investors make more money each month.
The ideal approach to have a luxurious space for contemporary living in a prime location in the city is to invest in a multi-family residence, such as an apartment home. Renting an apartment can save you money and offer benefits; alternatively, you can construct your own apartment rental home or your own personal living quarters. Everyone has heard tales of people who purchase a home at a certain rate and then sell it at a higher rate (such as "3X" rate). It is the most alluring incentive for anyone thinking about purchasing a home in a good urban neighbourhood. On other types of investments, you have to wait a very long time to get big profits.
It is not necessary to wait a long time to make substantial earnings in real estate, though. Purchasing a house in the best residential development in a prime location is an investment that will yield significant returns for the buyer. Due to its status as the top exporter of IT services, Bangalore is known as Silicon Valley of India. Bangalore, a huge metropolis with a diverse population, is India's most significant financial and cultural hub. It is also the nation's fastest-growing major city. Consequently, investing in a home in Bangalore's fantastic location would be a wise move that could result in sizable returns and advantages.
If you're looking for a fantastic location, a stunning home, a valuable asset, convenient amenities, and a prestigious property, the Prestige Park Grove project in Bangalore is the place to be.
The most recent project in Whitefield is Prestige Park Grove.
Every significant developer in Bangalore is engaged in new projects as the city's real estate industry is rising. Investors will have several options in the coming future as a number of new projects are scheduled to get underway. A lot of advantages come from investing in potential ventures, two of which are:
Builders typically provide a number of early-bird discounts at the project's initial launch. For the investor, these programmes ensure a higher price on a luxury residence.
A better deal is guaranteed when investing in a new project, both in terms of pricing and location. Additionally, the home buyer has the much less expensive and simpler option of making early alterations to the property.
One of the most essential life goals for many people around the world is to own a good home. However, that desire proved to be unaffordable due to the rising costs associated with purchasing and maintaining a home. But if you choose wisely, when you've bought your ideal house, you won't have to pay any further fees. It is a private residence rather than an apartment, so the costs for purchase and maintenance are high. Living in an apartment home can provide a person several benefits in addition to getting a magnificent house at a reasonable price and avoiding expensive maintenance bills. The best connectivity will provide numerous benefits at the appropriate times if the apartment is located in the best part of town, close to hospitals, schools, shopping malls, restaurants, colleges, IT parks, and other significant locations. If the hospital is close by, there won't be a rush to get there in case of an emergency. If you live in the area, it won't take you very far to get to your children's school or your place of employment. Similar to this, tenants will benefit greatly from the connectivity of contemporary apartment buildings in prime locations.
"Amenities" are one of the wonderful advantages that everyone in the apartments receives. In addition to the opulent home, the apartment management offers first-rate amenities like a garden, gym, kids' play area, and a section with indoor games, among others. Apartments will therefore be the ideal location to enjoy a sophisticated lifestyle with family members in addition to being a lovely place to live. Despite the fact that the unit administration provides a number of facilities, the maintenance expenses will be decreased. As a result, individuals who purchase a fantastic apartment can live in great comfort and modernity for a reasonable price. The backdrop will always be nice, regardless of whether the residents invest their own time in keeping the apartment building beautiful. In order to provide adequate ventilation and natural light, the apartment developer will select the greatest sites for the buildings to be built. The apartment management is also in charge of preserving a tidy and appealing environment. As a result, even though you're living in an apartment, you could always feel a sense of ease and pleasantness about you.
The flats will have the highest and most satisfactory level of security. As a result, there won't be any concern about the safety issue. You don't need to spend a lot of money to have a great time whether you want to use the apartment's tennis court, garden, children's play area, pool, or other recreational amenities. Additionally, because your home offers incredible amenities, you won't need to take the family to other locations for entertainment. Paying a little bit more to purchase a home in the apartment will allow you to benefit from a number of advantages over time in addition to the pleasurable comfort of the top perfect home.
Whitefield's newest building will be called Prestige Park Grove.
Away from the city centre is where Whitefield/Bangalore is situated. This Whitefield neighbourhood has expanded thanks to the late 1990s IT boom. Back then, it was a neighbourhood of Bangalore. Several residential, commercial, and business buildings can be found there, making it an important area of the city. There are two four-lane highways that connect Whitefield to Bangalore city. First, through Mahadevapura; second, through Marathahalli A few other significant city locations nearby include Hoodi, KR Puram, Brookefield, and Marathahalli.
Your place of employment and residence might be close by because Whitefield is home to research centres, hospitals, shopping centres, schools, information technology companies, and many more establishments that serve all segments of the community. Some of Whitefield's well-known real estate firms are Brigade, Divya Shree, Godrej Properties, Prestige, Shoba, Shriram Group, and Shoba. There are numerous new initiatives in the works.
Whitefield is a highly wealthy neighbourhood with about 46% of residences being villas. The most typical design is a two-bedroom flat. The majority of the properties—about 61 percent—are in this state. The average price of a residence is between Rs. 40 lakh and Rs. 60 lakh, followed by Rs. 60 lakh and Rs. 80 lakh for 11% of the homes, and Rs. 80 lakh or more for the other 42%.
Young people from all around the nation are frequently hired by Bangalore's expanding IT and ITeS industry. Bangalore has drawn top international companies as a result of the expanding IT boom, and specific districts of the city have witnessed significant changes. One such neighbourhood is 'Whitefield,' which is in East Bangalore.
In the last five to ten years, Whitefield has undergone a significant transformation. A significant contributor to this change was the arrival of the IT industry in the region. Due to the expanding IT industry, Whitefield, once a quiet neighbourhood, has become one of Bangalore's top residential destinations. The creation of International Tech Park (ITPL), the first and largest tech park in India, was a game-changer for the Whitefield neighborhood's residents and served as a prologue to a residential revolution in Bangalore's Whitefield, which was the first to benefit from this infrastructure revolution.
Whitefield was a charming suburb before Bangalore had an IT boom in the early 2000s, which changed the neighbourhood. Bangalore, which was once thought of as a tranquil retirement location, has developed into India's largest IT powerhouse. One of Bangalore's first suburbs to benefit from the information technology revolution was Whitefield, which is now one of the most sought-after residential areas in the city.
With more and more tech parks being created, the "ECC Road ECC Rd, Pattandur Agrahara, Whitefield" area is frequently acknowledged as one of Asia's top IT destinations. With big worldwide IT businesses setting up permanent operations there, Whitefield is swiftly becoming Bangalore's most favoured residential and commercial district.
Whitefield offers a variety of residential developments at various price points for potential homebuyers to choose from. Whitefield has a large selection of homes to suit a range of budgets and configurations due to the great demand for real estate in the neighbourhood. Homebuyers can choose from a wide variety of property alternatives in the Whitefield region, such as gated communities, opulent apartments, stunning villas, and more.
Real estate gurus predict that in the next two to three years, Whitefield properties will increase by 11 to 14 percent, and that this tendency will continue. The Whitefield metro station, scheduled to open by the end of 2021, will undoubtedly improve connectivity in this Bangalore neighbourhood, increasing Whitefield's potential for appreciation.
There are many retail centres in the Whitefield neighbourhood to provide you with the best possible shopping experience. The largest mall in Asia, Phoenix Market City, as well as other well-known malls like In-Orbit Mall, Big Bazaar, VR Mall, and others are situated in Whitefield. The big and well-known "Sri Satya Sai Hospitals" and "The Vydehi Hospitals," among other top-notch medical facilities, are located near Whitefield. These hospitals are well known for their cutting-edge medical equipment and first-rate medical care.
Some of the top international schools, including Ryan International School, Gopalan International School, The Deen's Academy, Brigade School, and others, are located in the Whitefield area. All of these schools, which are among the best in Bangalore, provide top-notch educational opportunities.
For anyone looking to purchase a home in Bangalore, Whitefield is the greatest choice due to the combination of the aforementioned features. Bangalore's Whitefield neighbourhood is one of the largest and most well-known residential districts, providing a variety of amenities to suit all interests.
Why You Should Relocate to Whitefield
A strong real estate market is growing to the city's outskirts as a result of Bangalore's IT development. Suburban communities like Whitefield and Sarjapur are well-liked by first-time homebuyers because of the many advantages they provide. We'll look at a few of them now.
The major hubs of the city are connected to Whitefield by the arterial roads Varthur Road and Whitefield Road. All Whitefield citizens may keep linked thanks to these roadways that link the Mahadevapura and Marathahalli areas. Your daily journey to work will be less taxing and more therapeutic with such state-of-the-art roads. The Bangalore-Chennai expressway runs through Whitefield, and it boasts great roads as well as a fully operating train station. A picturesque 13-station line connecting Byappanahalli and Whitefield would be built as part of the Namma Metro Project. Due to its proximity to Bengaluru International Airport, Whitefield has become a well-liked business trip destination.
Nothing compares in terms of social infrastructure.
The region's real estate market is significantly impacted by a strong social infrastructure, and Whitefield is no exception. Whitefield has it everything, including illustrious educational institutions, illustrious medical facilities, and family-friendly entertainment areas.
The information technology sector is expanding rapidly.
Top IT companies and industrial behemoths have drawn to Whitefield, considerably influencing the city's IT boom. The area is dotted with tech parks, which provide a wide variety of career opportunities. Because of this, Whitefield continues to draw a steady flow of working people and recent graduates, creating the foundation for a thriving real estate market. It is a good moment to invest and reap huge benefits because rental prices in this area have been growing significantly. Living close to your place of work is always a smart option, even if there are no excellent career prospects. Along with cutting down on travel time, you'll be more energised and anxious to see your family when you get home. One of Bangalore's most important IT centres, Whitefield, has developed. When the first and largest IT park in the nation, International Tech Park Ltd (ITPL), was constructed in this location, the IT sector saw a boom.
The previous five to ten years have seen a significant transformation of Whitefield. This change was significantly influenced by the arrival of the IT industry in the region. Because of the expanding IT sector, Whitefield, which was once a quiet neighbourhood, has become Bangalore's top residential attraction. The establishment of International Tech Park (ITPL), India's first and largest tech park, in Whitefield was a game-changer for Whitefield residents and signalled the beginning of a residential revolution in Bangalore's Whitefield. Which of these cities benefited from the infrastructure revolution first?
With more IT companies opening their doors, Whitefield is positioned to become one of Bangalore's major IT centres. The development of offices and workspaces by various international companies in the region has sparked the IT revolution.
The Whitefield neighbourhood in Bangalore is poised to become the greatest of the city's IT corridors as more IT enterprises start to appear there.
The suburb to examine first on the list is Whitefield. It is well known that choosing a boomtown to buy real estate in is the best course of action. It examines three important investing criteria: cost, accessibility, and appreciation. Property values in Whitefield are now modest, but if the suggested metro and infrastructure improvements are carried out, they are anticipated to increase. This indicates that one of the best and most lucrative investment options right now is Whitefield.
A Whitefield-based developer of properties is called Whitefield Real Estate Development.
The late 1800s saw the founding of Whitefield, one of Bangalore's earliest communities, as a neighbourhood for the Anglo-Indian and Eurasian peoples living under British authority. Whitefield remained a charming, old-world neighbourhood up until the late 1990s, when the burgeoning IT industry turned this quiet neighbourhood into one of Bangalore's most sought-after residential districts.
Bangalore's growth has been significantly influenced by the information technology (IT) and IT enabled services (ITES) sectors of the city. Nearly every area in Bangalore's suburbs has been impacted by the growth of the IT industry; to the east of Bangalore, Whitefield has undergone significant recent transformation as a result of the IT revolution.
Thanks to the construction of India's first and largest IT park, International Tech Park Ltd, Whitefield has become one of Bangalore's busiest residential neighbourhoods (ITPL). With the growth of new tech parks and IT businesses, Whitefield is poised to become Bangalore's next residential and commercial hub.
Because it is one of the areas that has had significant demand and appreciation over the preceding 15 years, Whitefield is a wonderful place to invest. Purchasing a flat or villa in Whitefield is a wise investment because these properties can be simply rented out for a healthy rental income. Due to its proximity to Bangalore's main information technology centres, the area is a well-liked alternative for foreigners looking to rent.
In the upscale neighbourhood of Whitefield, there are numerous places to eat, watch movies, and shop. In the area, there are many excellent schools as well as several hospitals that are now being built. The most prominent feature of Whitefield is the abundance of retail shops. Due to the presence of both domestic and foreign food franchises, Brookfield is a high street that is challenging to miss.
Developers like Prestige Builders, Sobha Developers, Provident Group, Purvankara Group, and others have constructed a range of residential and commercial developments in the Whitefield area. ECC Rd, Pattandur Agrahara, and Whitefield are three real estate developments that have benefited from the growing IT boom and connectivity.
With the construction of the planned Namma Metro station at ECC Rd, Pattandur Agrahara, Whitefield, Bangalore residents will be able to travel to any area of the city in just a few minutes. Due to all-weather broad cement highways like the ECC Rd and Pattandur Agrahara, Whitefield is well connected to neighbouring IT hubs like Sarjapura Road, Electronic City, Brookefield, Vartur, Marathahalli, and many others. The projected Peripheral Ring Road (PRR), which will link Tumkur Road, Old Madras Road, Hennur Road, and Hebbal via NICE Road, will make commuting easier for people living in ECC Rd, Pattandur Agrahara, and Whitefield. With so many residential and commercial buildings currently under construction, ECC Rd, Pattandur Agrahara, Whitefield is one of Bangalore's most sought-after residential neighbourhoods, supporting Whitefield real estate trends.
5 Advantages of Living in Whitefield
Bangalore's IT boom has triggered a domino effect, with a robust real estate business spreading towards the city's outskirts. Suburban neighbourhoods such as Whitefield and Sarjapur have grown popular among first-time home purchasers due to the numerous advantages they provide. Let's look at some of them.Excellent connectivity
Whitefield is connected to the city's major hubs by the Whitefield Road and Varthur Road arterial highways. These roads run through the Mahadevapura and Marathahalli areas, offering continuous connectivity to all Whitefield inhabitants. Your everyday drive to work will be more therapeutic than taxing with such cutting-edge roads. Aside from immaculate roads, Whitefield is home to a fully operating train station on the Bangalore-Chennai highway. Furthermore, the Namma Metro Project would be extended to connect Byappanahalli and Whitefield across a stunning 13-station route. To top it all, Whitefield's proximity to Bengaluru International Airport has made it a popular business trip destination.Infrastructure socially unparalleled
A strong social infrastructure has a significant impact on the region's housing market, and Whitefield is no exception. Whitefield has it all, from prestigious educational institutions and renowned medical facilities to family entertainment zones.IT is booming.
Top IT businesses and industrial heavyweights have set up shop in Whitefield, contributing significantly to the city's IT boom. This area is dotted with a variety of tech parks, which provide a profusion of career prospects. As a result, Whitefield has attracted a steady stream of working professionals and graduates, setting the path for a robust real estate market. Rental rates have been rapidly increasing in this area, making now an excellent time to invest and reap large rewards. Apart from solid career prospects, residing close to your place of business is always a smart option. Not only will you save time on the road, but you'll also arrive home energised and ready to spend quality time with your loved ones.
Whitefield has developed into one of Bangalore's most important IT corridors. When the country's largest and first IT park, International Tech Park Ltd (ITPL), opened in this location, the IT sector exploded.
In the last 5 to 10 years, Whitefield has undergone a tremendous transformation. The key reason for this transformation was the arrival of the IT sector in the area. The expanding IT sector has converted Whitefield, which was once a peaceful neighbourhood, into Bangalore's top residential attraction. The construction of India's first and largest tech park, International Tech Park (ITPL), in Whitefield, was a game changer for the residents of Whitefield, and it acted as a precursor for a residential revolution in Bangalore's Whitefield, which was the first to benefit from this infrastructure revolution.
With more IT companies opening in Whitefield, the neighbourhood is set to become one of Bangalore's premier IT centres. Many multinational corporations are establishing offices and workspaces in the neighbourhood, which has fueled the IT revolution.
The Whitefield neighbourhood is set to become the best of Bangalore's IT corridors as more IT companies arrive.Rapid recognition
It is common knowledge that investing in real estate in a growing area is the greatest strategy, and Whitefield is at the top of the list of suburbs to consider. It examines three important investment criteria: affordability, availability, and appreciation. Property prices in Whitefield are currently low, but they are expected to rise when the proposed metro and infrastructural improvements are implemented. This means that investing in Whitefield is currently one of the greatest and most profitable possibilities.Whitefield Real Estate Development
Whitefield is one of Bangalore's oldest settlements, dating back to the late 1800s when it was formed as a settlement for the Anglo-Indian and Eurasian communities during the British rule. Whitefield area remained old world and charming until the late 1990s, when the growing expansion in the IT sector transformed this sleepy neighbourhood into one of Bangalore's most sought-after residential locations.
Bangalore's development has been linked to the city's information technology (IT) and IT enabled services (ITES) industries. Almost every section of Bangalore's suburbs has been affected by the IT sector's growth; Whitefield, to the east of Bangalore, has altered dramatically in recent years as a result of the IT revolution.
The establishment of India's first and largest IT park, International Tech Park Ltd (ITPL) in Whitefield, has helped transform this sleepy city suburb into one of Bangalore's most vibrant residential areas. With the development of more tech parks and IT businesses in the vicinity, Whitefield is poised to become Bangalore's next residential and commercial hub.
Investing in Whitefield is a wise idea because it is one of the areas that has experienced significant demand and appreciation over the last 15 years. Purchasing an apartment or a villa in Whitefield is a fantastic investment idea because the apartments and villas in this neighbourhood can easily be rented out for good rental income. Indeed, due of its proximity to Bangalore's major IT hubs, the area is a favoured choice for expats looking to rent.
With more IT businesses opening offices in the ECC Rd, Pattandur Agrahara, and Whitefield areas of Bangalore, it is expected that around 8 to 10 lakh employment will be created by 2025, particularly in the Whitefield area. Many techies are settling in this neighbourhood, which is close to their workplaces, to get away from the city's crazy traffic.
Whitefield is a sophisticated neighbourhood with a variety of dining, entertainment, and retail opportunities. A lot of good schools are located in the area, and a number of hospitals are being built. Whitefield's biggest feature is the high number of shopping businesses in the region. Brookfield is a high street that is hard to overlook, owing to the presence of national and international restaurant chains.
Prestige Builders, Sobha Developers, Provident Group, Purvankara Group, and others have developed a number of residential and commercial developments in the Whitefield region. ECC Rd, Pattandur Agrahara, and Whitefield real estate projects have benefited from the increased IT boom and connectivity.
With the impending Namma Metro station in ECC Rd, Pattandur Agrahara, Whitefield, inhabitants of ECC Rd, Pattandur Agrahara, Whitefield will be able to travel to any part of Bangalore in minutes. With all-weather broad cement roads, the ECC Rd, Pattandur Agrahara, Whitefield is well connected to nearby IT centres like as Sarjapura Road, Electronic City, Brookefield, Vartur, Marathahalli, and many others. The projected Peripheral Ring Road (PRR), which will connect Tumkur Road, Old Madras Road, Hennur Road, and Hebbal via NICE Road, will guarantee a seamless commute for the inhabitants of ECC Rd, Pattandur Agrahara, Whitefield.
All of the above aspects contribute to ECC Rd, Pattandur Agrahara, Whitefield being one of Bangalore's greatest residential destinations, with a large number of residential and commercial developments under construction, boosting real-estate trends in Whitefield.