Pune Q3 2015: Rental Property Tracker
Out of the top rental markets based on the availability and rental yield, maximum were skewed towards the eastern part and rest towards the western and northern part of the city.
• Hadapsar secured first position based on rental availability. Located in the eastern part of Pune, rental growth here is mainly due to the IT Parks and SEZs. Educational institutions such as Ayurvedic College, Sane Guruji Vidyalaya also attracts students for rental accommodation at affordable rates.
• Second position was secured by Wakad. Proximity to the IT hub of Hinjewadi and Pune-Mumbai expressway are two major USPs of this area. Further, it also caters to professionals working in the manufacturing hubs located around Chakan.
• Kharadi that secured first position in the last quarter (Q2, 2015) secured third position in the current quarter. Its proximity to the EON SEZ and neighboring IT Parks have made it a preferred rental destination among software professionals. Moreover, the area is just 10km from the airport, which further adds to its appeal.
• Wanowarie and Wagholi occupied fourth and fifth slots replacing Viman Nagar and Kalyani Nagar from Q2, 2015. While the former is catalyzing on its proximity to the Cantonment and Pune Railway Station (8km), the latter boasts of swift accessibility to the IT hub of Kharadi and international airport (9km).
• In terms of rental yield, Pimple Nilakh clocked first position. Proximity to Mumbai-Pune Expressway, the area is well-connected to prominent areas such as Wakad, Hinjewadi, Aundh and Baner. Being relatively affordable, it also receives spill-over demand from Aundh and Baner.
• Second spot was retained by Viman Nagar. The area mainly receives spill-over demand from the nearby localities like Shivaji Nagar and Ashok Nagar where rental prices have become unaffordable for many.
• Wadgaon Sheri, which secured first position in Q2, 2015, clocked third spot in Q3, 2015. Prominent residential neighborhood in Pune, its proximity to the key CBD areas where rental prices are very high has helped it climb the realty growth ladder.
• Chakan in North and Fursungi in East Pune were the new entrants to the list in the current quarter. Chakan receives rental demand from nearby SEZs and automobile industries such as Volkswagen, Mahindra & Mahindra, Daimler-Benz, to name a few, while Fursungi is benefiting from the SP Infocity IT Park.
The purpose
1) Help the consumer to understand availability of rental properties in Pune.
2) Assist the consumer to understand the top markets for rental returns in the respective city. The data is taken from listings done by builders/ brokers/ individuals to rent out their properties through CommonFloor.com from Jul to Sept, 2015.
Disclaimer:The information provided in this Website is based on CommonFloor data which is collected from various publicly known sources viz, websites, documents and maps including CommonFloor’s proprietary data resources, and from the inputs of unidentified individuals. It ought to be considered as a guideline and not as absolutely certain. While care has been taken for groundwork, no responsibility is accepted for the accuracy of whole or any part. This information is absolute property of CommonFloor /maxHeap Technologies Private Limited. It should not be reproduced in any form, in part or whole, without prior written permission of CommonFloor. The information is provided on an “as is” and “as available” basis. CommonFloor expressly disclaim warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
