Capital and rental values
Property values in Hebbal range between Rs 3,500 and 4,500 per sq ft and those in Whitefield range between Rs 3,200 and 4,000 per sq ft. According to the figures, an apartment of 1000 sq ft is available within Rs 37-46 lakh in both Hebbal and Whitefield.
However, in terms of rental values, Whitefield scores over Hebbal. The same 1000 sq ft apartment that would be leased within Rs 11,000-14,000 per month in Hebbal would, in Whitefield, go for Rs 15,000 or more per month. “Whitefield has a more established and cosmopolitan crowd. Even the amenities offered in the Whitefield projects are much better than those in Hebbal. For this reason the average rental values in Whitefield are more than those in Hebbal,” says Mahesh TV of Diksha Consulting.
Both Hebbal and Whitefield have a healthy supply of 2, 3 and 4 BHK apartments. Smaller homes are scarce in both the locations but if you are looking for one, then Whitefield may have more options as compared to Hebbal.
Also, if you are looking for single floor apartments, then Hebbal has a larger availability of those. Independent homes and villas are something that you may get in abundance in Whitefield but may be hard to find in Hebbal. Even residential plots are less in Hebbal as compared to Whitefield. All in all, Whitefield offers a wider range of residential properties to homebuyers.
“While the land costs are expected to go up by 15-20 per cent in one year in Hebbal, apartments in Whitefield are anticipated to provide healthy returns in 6-8 months,” says Mahesh. Reiterating, R Nagaraj Reddy, CMD, Zonasha Estate says, “The values in Whitefield are expected to increase with the coming up of the Peripheral Road, within one year, and also once the construction of the Japanese Industrial Corridor Road between Old Madras Road and Chennai becomes operational.
Shradha Goyal, MagicBricks Bureau