Top 5 Pune Localities To Live On Rent
The ease of moving is something only tenants enjoy, and it is precisely for this reason that renting never did and never will go out of fashion. The concept in even more popular in cities such as Pune, where a large number of students and job seekers move every year to find to pursue higher education or to find suitable employment opportunities. Now, would it not be interesting to get a head-start on which localities in Pune are the obvious choice of tenants?
Let us find out.
Since variety is the very word that defines this popular locality, a tenant can find accommodations that may cost a monthly rent starting from Rs 5,000 to Rs 45,000. The size of these units vary anywhere between 600-1,500 square foot (sqft) on an average.
Because of huge demand, the rental yield in the area is handsome, too. Ahmedabad-based Kavita Jahan, who owns a 2BHK property in Hinjewadi, says, “I have never had to worry about my rental property remaining vacant for long because there is regular demand.”
Hadapsar in east Pune has a distinct advantage ─ the Hadapsar Industrial Estate employs thousands. Adding to this advantage is the connectivity factor. Further, comparatively, this locality is also affordable when compared to neighbouring localities such as Magarpatta. Sizes of apartments range between 500-3,000 sqft. Monthly rent may range between Rs 7,000 to Rs 3 lakh per month.
In the metropolitan area, Wakad is one of the most popular localities among Pune’s tenants because of its affordability. A 1BHK apartment may demand a monthly rent of Rs 4,500; it may run up to Rs 95,000, too, if you are seeking luxury. Likewise, size of these apartments units are in the range of 1,000-2,700 sqft.
Located further east, Wagholi has turned into a popular investment zone. Data available with Makaan.com suggest that rents may fluctuate between Rs 4,500 and Rs 1 lakh a month, depending on the kind of amenities you seek. If the locality is brought under municipal limits, rents may increase further in future.
Since the area has the privilege of hosting a special economic zone, Kharadi is a favourite among young professionals working with IT/Ites, advertising, marketing, analytics and data services companies here. Consequently, the demand for rental homes in this area is huge.
A house on rent can cost you anywhere between Rs 5,000 to Rs 1.50 lakh per month, depending on the size and facilities.