You Can Earn Up To Rs 6 Lakh A Month As Rent In Pune
In Pune, where are tenants looking for homes? Well, these would be areas where investors looking to earn handsome rental returns would be looking to buy. For the purpose of ease, we classify these localities into two broad sections, one comprising areas where high-end properties on rent are popular and the other where upcoming or mid-ranged properties are on rent.
The high and mighty
While Koregaon Park, Kalyani Nagar, Hinjewadi and Aundh are among the areas that cater to the well-heeled in the Pune market, Koregaon Park is the benchmark if luxury must be defined.
Some units in the locality, known for its lavish homes, command as much as Rs 12 lakh per month in rent, data by Makaan.com show. Majority of these homes on rent are however in the Rs 2-6 lakh bracket. Usually, these spacious properties are furnished or semi-furnished and are built by renowned names in the industry. The locality’s proximity to Kalyani Nagar, the hub for most information technology (IT) professionals, has added to its popularity. Koregaon remains one of the swankiest neighbourhoods, which locals fondly remember for its charm and aura with bungalows and large villas dotting the lanes. However, as time passed, bungalows gave way to multi-storey apartments with no compromise on the price. Today, the area is a top choice among rich locals and expats. The cost of these homes in the market would be anywhere between Rs 4- 15 crore.
On the other hand, Kalyani Nagar boasts several properties on rent priced between Rs 2 lakh and Rs 8 lakh a month, depending on the amenities offered, quality of construction and age of the building. The security deposit in all these places may go up to Rs 15 lakh. The size range of properties in this locality varies between 2,500-6,000 sq ft. The IT hub herein makes it a choicest pick for the top rung of corporate offices to hunt for a home on rent here.
Boat Club Road, Hadapsar, Hinjewadi and Aundh form the next league of high-end property destinations for prospective tenants. Job prospects, proximity to business districts, comparatively lesser traffic makes tenants pay up for a lifestyle that commands as much as Rs 6 lakh per month.
Rental properties within Rs 50,000 per month
Kharadi is one of the most active rental markets in the city today, thanks to the special economic zone that is housed here. Given the popularity of the area, startup enthusiasts, too, have sensed the value of living in the proximity of an office area. As rents are affordable, budding businesses get an option to be here and save time spent on commute.