Lifestyle

ITPL property market: An overview

[ecis2016.org] ITPL is one of Bengaluru’s major IT parks and also the oldest one. There are hundreds of offices, along with malls and sporting arenas and luxury hotels, within this tech park. It is, thus, witness to some of the fastest-growing localities around. Places around ITPL currently have nearly 50-60 housing projects under construction and lies near Whitefield and Marathahalli, which have higher property rates

The ITPL real estate market has seen a significant rise in demand, due to the establishment of the International Tech Park (ITPB) here, along with the official induction of Whitefield into the Bruhat Bengaluru Mahanagara Palike. The entire locality around ITPL, has witnessed a transformation since the IT boom in the 1990s. Demand has risen swiftly for flats in ITPL and the locality has developed a very cosmopolitan look. There are different options, when it comes to apartments in ITPL and its surroundings, although 2 and 3-BHK are mostly preferred here. There are many prominent builders in ITPL including Puravankara, Prestige, K Raheja, Brigade and many others. Some of the landmark housing projects in ITPL area include Puravankara Bougainvillea, Sekhar Hyde Park and Prestige Ozone, to name a few.

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This zone is quite a good bet for mid-range housing, whereas neighboring areas like Marathahalli mostly cater to the upper range of the market, since the property rates are on the higher side. Other nearby ITPL localities include Varthur, Vibhutipura and Brooke Fields. The presence of the International Tech Park, ensures employment for 15,000-20,000 professionals and this will always keep the door open for future appreciation and growth.

Connectivity with nearby ITPL localities

  • Well-connected to the Whitefield Railway Station, which is 5.3 kilometres away.
  • Seamlessly connected to the rest of Bengaluru through the Varthur Road or HAL Old Airport Road, which goes via Marathahalli and ITPL Road through Mahadevapura.
  • Located very near to State Highway 35 through ITPL Road and Varthur Road.
  • ITPL is located around 50 kilometres away from the Kempegowda International Airport.
  • BMTC bus services connect it to other parts of the city.

Employment hubs near ITPL

  • Whitefield – 2.9 kilometres via Whitefield Main Road.
  • Companies present in the tech park – L&T Infotech, Capgemini, Qualcomm, Sharp, Tata Consultancy Services and many others.
  • Embassy Manyata Business Park – 26 kilometres via ITPL Road and NH-75.
  • Koramangala – 20 kilometres via Varthur Main Road and NH-44.
  • Wipro Corporate Office – 18 kilometres via Swami Vivekanand Road.

Schools in ITPL and other social amenities

ITPL zone comes with impressive social infrastructure. Well known schools in ITPL include the Vydehi School of Excellence. Reputed hospitals in ITPL are the Narayan Multispecialty Hospital and the Columbia Asia Hospital. Popular malls in ITPL include the Park Square Mall and Inorbit Mall, to name a few. It also has the Taj Vivanta hotel within its boundary.

Upcoming physical infrastructure ITPL

  • The second phase of the Namma Metro, will cover ITPL. The Purple Line from Byappanahalli will be extended, to cover the locality.
  • Price appreciation – 10%-12% over the last couple of years.
  • Current property rates – Rs 3,697–6,279 per sq ft.

Reasons to invest ITPL

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The price trends in ITPL and presence of the Tech Park, along with connectivity to Whitefield and other prominent areas, ensure good appreciation in the locality. This is a good investment destination for the future and the prices are also quite competitive, till now. There are a few bad roads in some stretches, while traffic congestion in peak hours is sometimes a nightmare.

Check properties in ITPL

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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