Want To Earn Better Rental Income? You Could Bet On These Localities
With time, localities evolve and rental markets grow bigger, better and, sometimes, profitable, too. A recent report put out the names of some of the most popular office markets in Indian cities. Are you living in the following cities? Check out where to invest and how much rent you can expect.
Within a radius of 10-km from Vidhan Soudha is Bengaluru's central business district (CBD). Popular for its commercial zones and offices, Vidhan Soudha is quite expensive in case you are planning to rent a unit. This year, a 10,000 sqft plot opposite the UB City moved in the market for Rs 45 crore. Apart from the existing wealth of corporate offices here, many under-construction properties would be ready to use by 2018-2022. This is the area where you would find a number of schools, hotels, movie theatres, malls and consulates.
Residential areas in the vicinity include Cunningham Road, Cox Town, Fraser Town, and the rents may vary from Rs 20,000 to Rs 1.5 lakh per month. Security deposit is additional.
If the CBD is out of your budget, try Whitefield. The best part about Whitefield is that while entry prices are reasonable, there is no dearth of options to choose from either. Properties on rent range between Rs 8,000-70,000 per month, depending on whether you are looking at an affordable or spacious accommodation.
If you are eying Guindy, MRC Nagar and Saligramam, you are in the right direction. IT, BFSI and consulting firms have absorbed seats here and this translates into job growth. Prominent names in the industry such as DLF had said that they would be expanding near Guindy at an investment of Rs 500 crore.
That's not all. Popular research reports suggest that commercial rents are also witnessing an appreciation owing to quality office space. Besides, other developers, such as the Olympia Group, are also in the middle of unveiling added office spaces at Guindy.
In Saligramam, MRC Nagar and Guindy, residential rental value could range between Rs 8,000-60,000 per month, depending on the size of the house, proximity to job markets, quality of life in the area, amenities provided in the housing project and age of the building.
If you are anywhere around the DLF Cyber City, your property investment can yield better returns than most other places. Some of the coveted job providers have leased office spaces herein and with the metro rail offering easy commute, the area is far more popular now.
To cater to a cosmopolitan crowd, even studio apartments are being offered by potential landlords. When equipped with the latest and modern facilities, these make for a good product in the rental market. Flats on rent in and around DLF Cyber City may be in the range of Rs 15,000 to Rs 60,000 per month, depending on the number of rooms in the house, quality, exact location, etc.
Kharadi and Hadapsar are two popular locations for both commercial and residential space buyers. It is equally popular among the migrating workforce, most of who are engaged in the IT/ITes field. In Kharadi, for example, there are over 1,000 projects available for rent. Depending on whether you would like to go in for a studio apartment or a spacious apartment in a popular housing society, rental values will be in the range of Rs 5,500 for a small unit to as much as Rs 2.50 lakh for a spacious 4 or 5BHK unit in a coveted location.
Reports claim that Pune and these popular destinations may see more SEZ's become operational in near future and this time it is getting wider in scope, extending to biotechnology and pharma companies, too.