Top 5 areas in Pune for Rental demand

Pune is witnessing exponential growth in demand for Rental property due to a host of factors. The growth of the IT sector as well as manufacturing and automobile sectors has resulted in many major companies setting up their offices in the city. This has resulted in a plethora of employment opportunities resulting in an influx of migrants from other parts of the State as well as from around the country. Pune, known as an educational hub, has also brought in many students from across the country. This has enhanced the requirement for rental accommodation in the city due to which the number of investors in rental property has seen a substantial increase along the years.Based on the number of listings with CommonFloor, the top 5 areas based on the number of available apartments for rent are Kharadi, Wakad, Hadapsar, Viman Nagar and Baner.

Kharadi

Kharadi is located about 13 km from the heart of the city, along its north-eastern fringe. It has the maximum number of available rental units as per CommonFloor listing data. Among the available rental apartments, about 50 per cent are 2 BHK units, 22 per cent are 3 BHK and 19 per cent are 1 BHK apartments. Rentals for 1 BHK rental apartments sized between 500-800 sq. ft. ranges between Rs 5,000-17,000 with about 64 per cent of them being in the rental range between Rs 10,000-15,000 per month. For 2 BHK apartments of size 700-1600 sq. ft., rentals range between Rs 8,000-30,000 per month with about 61 per cent being in the Rs 15,000-20,000 rental range. For 3 BHK apartments sized within 1200-2500 sq. ft., rentals range between Rs 15,000-40,000 per month with about 50 per cent being in the Rs 15,000-20,000 rental range.

Wakad

Wakad is located about 15 km from the heart of the city, along its north-western fringe. Among the available rental apartments here, about 64 per cent are 2 BHK units, 25 per cent are 3 BHK and 10 per cent are 1 BHK apartments. Rentals for 1 BHK apartments sized within 650 and 1000 sq. ft. range between Rs 6,500 and 20,000 per month with about 65 per cent being in the Rs 10,000-15,000 rental range. For 2 BHK apartments between 900 and 1800 sq. ft., rentals range between Rs 6,000-24,000 per month with about 80 per cent being in the Rs 10,000-15,000 rental range. For 3 BHK apartments between 1000 and 2500 sq. ft., rentals range between Rs 14,000 and 40,000 per month with about 83 per cent being in the Rs 15,000-20,000 rental range.

Hadapsar

Hadapsar is located about 11 km from the heart of the city, along its eastern fringe. Among the rental apartments available here, about 52 per cent are 2 BHK units, 30 per cent are 1 BHK and 11 per cent are 3 BHK apartments. Rentals for 1 BHK apartments between 500 and 800 sq. ft. range between Rs 6,500 and 23,000 per month with about 68 per cent being in the Rs 5,000-10,000 rental range. For 2 BHK apartments between 800 and 1500 sq. ft., rentals range between Rs 5,000-50,000 per month with about 48 per cent being in the Rs 10,000-15,000 rental range. For 3 BHK apartments between 1200 and 2400 sq. ft., rentals range between Rs 5,500-50,000 per month with about 32 per cent being in the Rs 10,000-15,000 rental range.

Viman Nagar

Viman Nagar is located about 10 km from the heart of Pune, along its north-eastern fringe. Among the rental apartments available here about 50 per cent are 2 BHK units, 26 per cent are 1 BHK and 20 per cent are 3 BHK units. Rentals for 1 BHK apartments between 550 and 850 sq. ft. ranges between Rs 5,500-30,000 per month with about 70 per cent being in the Rs 10,000-15,000 rental range. For 2 BHK apartments between 800 and 1700 sq. ft., rentals range between Rs 15,000-35,000 per month with about 52 per cent being in the Rs 15,000-20,000 rental range. For 3 BHK apartments between 1100 and 2500 sq. ft., rentals range between Rs 15,000-90,000 per month, with about 44 per cent being in the Rs 20,000-25,000 rental range.

Baner

Baner is located about 14 km from the heart of the city, along its north-western fringe. Among the rental apartments available in Baner as per CommonFloor listing data, about 48 per cent are 2 BHK units, 38 per cent are 3 BHK and 9 per cent are 1 BHK units. Rentals for 1 BHK apartments between 500 and 900 sq. ft. ranges between Rs 7000-15,000 per month with about 83 per cent being in the Rs 10,000-15,000 rental range. For 2 BHK apartments between 1000 and 1500 sq. ft., rentals range between Rs 8,000-30,000 per month with about 59 per cent being in the Rs 10,000-15,000 rental range. For 3 BHK apartments between 1200 and 2500 sq. ft., rentals range between Rs 12,000-90,000 per month with about 56 per cent being in the Rs 15,000-20,000 rental range.