Whitefield sees 136% growth in residential launches

Bengaluru, April 7, 2025: Whitefield, once primarily known as an IT hub on the outskirts of Bengaluru, underwent a notable transition towards becoming a major residential area driven by its tech sector development. Interesting to note, the stock of Grade A office space in Whitefield has grown from 35.7 million sq. ft to 52.0 million sq. ft within a span of 5 years (2019-2024). These developments have not only spurred rapid residential activities and investments but have also significantly driven land prices upwards. Backed by land availability in this suburb, developers have been encashing on the rising demand, consequently creating multiple residential corridors and developing the peripheral areas of Whitefield.

Transformation of Whitefield over the years from a tech hub to a residential haven was made possible with the completion of the Outer Ring Road and the recent Namma Metro extension, that enhanced this suburb’s connectivity to other parts of Bengaluru. The suburb has evolved as an attractive residential option for both IT and non-IT professionals offering a wide range of housing options - from affordable apartments to luxury villas, catering to various income groups and preferences.

As core Whitefield locations near major IT parks became saturated, development within the suburb extended to its peripheries, thereby opening new residential corridors with their own price points and characteristics. Initially Kundalahalli, Brookefield, ITPL main Road and Varthur Road locations witnessed rapid residential developments driven by their proximity to tech parks. Whitefield continued to evolve, and several emerging corridors started playing a crucial role in shaping its residential landscape.

“Growth in housing demand backed by healthy launches and continued commercial expansion in Whitefield, has resulted in 15-30% Y-o-Y growth in the property prices, during 2022-2024. Price growth has been observed across most of the corridors in Whitefield; with those located in proximity to tech parks and witnessing limited new launches having recorded 15-20% annual price growth during the period. Emerging corridors like Kadugodi - Hoskote Road, Whitefield - Budigere stretch between KR Puram & Budigere Cross and Varthur - Sarjapur Road have also been positively impacted by the recent metro network, connectivity to airport and land availability, thereby witnessing higher launches and around 20-30% annual price growth during 2022-2024.” said Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.

Whitefield still offers relatively affordable housing options compared to central areas of the city, attracting both first-time homebuyers and investors. While most of the emerging and existing corridors have been recording significant price and sales growth during post pandemic years, the variation in property prices and appreciation rates reflect factors such as proximity to workplaces, infrastructure development, the balance of supply and demand in each of these corridors and the prominent housing typology they offer.

“Healthy sales velocity in new projects (launched during 2022-2024), indicates strengthening buyer confidence which acted as a catalyst for overall higher sales momentum. Of the total 57,400 units launched in Whitefield during 2022-2024, approximately 75% were sold out by end of 2024, reflecting robust demand for projects even in early stages of construction. Around 40-45% of these launches being contributed by reputed developers ensured timely delivery and steady price appreciation and had a positive impact on the sales traction,” said Siva Krishnan, Senior Managing Director (Chennai & Coimbatore), Head - Residential Services, India, JLL

With the suburb positioning itself as not just a place to work but as one of Bengaluru's most sought-after residential areas, it is interesting to note that of the total under-construction units in the market, only ~20% (1/5th) is available for sale; for rest of Bengaluru this turns out to be ~30%.

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About JLL India

JLL is India’s premier and largest professional services firm specialising in real estate. The Firm has grown from strength to strength in India for the past two decades. JLL India has an extensive presence across 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi, and Coimbatore) and over 130 tier-II and III markets with a cumulative strength of over 16,000 professionals. The Firm provides investors, developers, local corporates, and multinational companies with a comprehensive range of services. These include leasing, capital markets, research & advisory, transaction management, project development, facility management and property & asset management. These services cover various asset classes such as commercial, industrial, warehouse and logistics, data centres, residential, retail, hospitality, healthcare, senior living, and education.

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