Earn 4% Rental Yield in Viman Nagar, Pune
If you bought an apartment in Viman Nagar at Rs 60 lakh and rented it out, you can expect about Rs 2.4 lakh annual rent for that apartment. This is a four per cent rental yield, possibly the best residential rental yield one may get in India. The main reason for this high rental yield in the area is due to its proximity to Kalyani Nagar and the IT settlements there.
Location
Viman Nagar is an area in East Pune. It is in the proximity of important areas such as Kalyani Nagar, Magarpatta and Hadapsar. The area is called Viman Nagar as it is located just half a kilometer away from the Pune domestic cum international airport. The area is also just 6 km away from the Pune railway station. Apart from being in close proximity to other business areas, Viman Nagar itself is part of the suburban business district in Pune.
The area is also close to the Mundhwa Kharadi Road and Pune Nagar Road, which are important state highways. Other important road includes the New Airport Road. There are regular buses that ply between Viman Nagar and other areas.
Infrastructure and amenities
Viman Nagar is one of the most sought after localities in Pune. The area has a very good civic as well as social infrastructure as a result of its proximity to commercial and business centres. The airport is actually part of the military airstrip. The Pune Municipal Corporation (PMC) has planned to expand the present bus rapid transit system (BRTS) in the future. There are also water meter pilot project and CNG pumping stations planned for the future.
There are also several good amenities such as educational institutions, hospitals, malls and hotels. The Symbiosis International School, Air Force School and Kendriya Vidyalaya are some notable educational institutions. Hyatt Regency, Sheraton and Ibis hotel are some well-known hotels in the area. There are also some good places to visit such as the Aga Khan Palace, a paragliding club and the Pune golf course.
Viman Nagar witnesses good rental yield
Owing to its good infrastructure, connectivity and proximity to the IT parks, Viman Nagar witnesses a huge demand for residential projects, both for buying as well as rentals. Due to the increasing number of IT parks in the vicinity, the area has witnessed a growing demand for rental accommodation and consequently an increase in rental yields. In fact, the last three quarters in 2013 saw the area clocking the highest rental yield in Pune. The area has recorded a continuous rental yield of 3 to 3.9 per cent.
For example, if you invest about Rs 60-70 lakh on a 2BHK apartment of size 900-1,100 sq. ft. and rent it out, you can earn between Rs 1.8-2.4 lakh rent annually, which is a monthly rent of Rs 15,000-20,000. An apartment of a bigger size may fetch you a higher rent. There are also 3BHK apartments available for rent. A 3BHK apartment of size 1,250-1,700 sq. ft. can fetch a monthly rental of Rs 20,000-25,000. Experts say that it is better to stay invested in a 2BHK property since the rental value is lower than the 3BHK apartment, the rental yield is higher.
Hence, if you plan to invest in a rental accommodation in Pune, with a good rental yield, Viman Nagar is your best choice.
