Where to invest in Pune for healthy rental returns
Pune is fast emerging as one of the most prominent Tier II cities in terms of infrastructure, reputed educational institutions, employment opportunities particularly in the IT and automobile sectors, pleasant climate, cosmopolitan lifestyle and general liveability. This has resulted in a growing migrant population to the city, which keeps increasing by the day. It is also considered to be an ideal choice for investors looking at getting healthy rental returns on their property investments. There are various areas across the city which are seeing steady appreciation in rental values due to the advantages they offer.
Areas in the north
Some areas in the north Pune with high rental values and which have seen appreciation in rental values since the previous quarter are Chinchwad Gaon (16 per cent approximately at Rs 15 per sq. ft.), Moshi (about 9 per cent at Rs 12 per sq. ft.), Jagtap Dairy (about 7 per cent at Rs 15 per sq. ft.), Pimple Gurav (about 7 per cent at Rs 14 per sq. ft.), Baner Road (6 per cent approximately at Rs 16 per sq. ft.), Aundh (5 per cent approximately at Rs 19 per sq. ft.) and Bhosale Nagar (about 3 per cent at Rs 26 per sq. ft.). Among these areas, those which have witnessed a steady appreciation in rental values in the past few quarters are Bhosale Nagar and Moshi.
Areas in the south
Some areas in south Pune with high rental values and which has seen high appreciation in rental values since the previous quarter are Handewadi (9 per cent approximately at Rs 12 per sq. ft.), Ambegaon (8 per cent approximately at Rs 13 per sq. ft.), Bibvewadi (6 per cent approximately at Rs 16 per sq. ft.) and Salunke Vihar (6 per cent approximately at Rs 16 per sq. ft.). Some areas which have witnessed steady appreciation in rental values are Bibvewadi and Salunke Vihar.
Areas in the east
Some areas in east Pune with high rental values and considerable appreciation in rental values since the previous quarter are Koregaon Park (about 13 per cent at Rs 34 per sq. ft.), Manjri (about 9 per cent at Rs 12 per sq. ft.), Wagholi (9 per cent approximately at Rs 12 per sq. ft.), Chandan Nagar (7 per cent approximately at Rs 15 per sq. ft.), Kharadi (7 per cent approximately at Rs 14 per sq. ft.), Mundhwa (5 per cent approximately at Rs 19 per sq. ft.), Kalyani Nagar (about 4 per cent at Rs 24 per sq. ft.) and Shastri Nagar (4 per cent approximately at Rs 22 per sq. ft.). Areas in this zone which have witnessed a steady appreciation in rental values for the past few quarters are Kharadi and Manjri.
Areas in the west
Some of the areas in the west of the city with high rental values as well as good appreciation in rental values are Model Colony (9 per cent approximately at Rs 23 per sq. ft.), Bavdhan (about 7 per cent at Rs 15 per sq. ft.), Erandwane (5 per cent approximately at Rs 20 per sq. ft.) and Prabhat Road (4 per cent approximately at Rs 24 per sq. ft.). Some of these areas which have witnessed a steady appreciation in rental values are Prabhat Road and Model Colony.
Other areas
Besides these areas, there are many other areas which provide healthy rental returns despite witnessing no appreciation in recent quarters. These areas include Boat Club Road (Rs 35 per sq. ft.), Sopan Baug (Rs 20 per sq. ft.), Viman Nagar (Rs 17 per sq. ft.), Yerwada (Rs 16 per sq. ft.), Karve Nagar (Rs 15 per sq. ft.) and Hadapsar (Rs 15 per sq. ft.).
