Property for rent in Hinjewadi Pune

Pune is witnessing a surge in the number of entrepreneurs. This may turn out to be a boon for the residential and rental market of the city.

Depending upon the location, rents could be as high as Rs 12 lakh per month. Affordable markets like Kharadi are also luring investors, eying rental markets for handsome rental returns.

The rental market of Pune is already flourishing as it offers educational and employment opportunities. The annual rental yield in Pune has witnessed an increase of around 3.33 per cent. The infrastructural projects such as the upcoming metro rail service and the new Greenfield International Airport based at Purandar will further boost the demand for rental apartments in Pune. MakaaniQ lists top five localities in Pune that have witnessed an increase in the rental yield in 2016.

The Pune Municipal Corporation has recently announced new development control regulations for the city. Under the new regulation, higher floor space index in non-congested areas will be permitted. The move is likely to prove beneficial for smaller developments. The regions which would be impacted by the PMC’s new rules include Deccan, Bund Garden (CBD), Aundh, Wakad, Hinjewadi, Pimpri-Chinchwad (north-west Pune), Yerwada, Kalyani Nagar, Viman Nagar and Kharadi (north-east Pune), all of which are spanned by the proposed Pune Metro.

As the cost of constructing a high-rise is steeper than in other projects, developers see sense in embellishing such towers with higher specifications and targeting buyers who value exclusivity.