Those investing in Pune seem to be
looking towards the east. The areas here are well-established and provide
investors with handsome rental income. Thanks to the investor interest in the
area, the fringe villages bordering the areas have also benefitted. The average
price of Pune property in the east
is Rs 4000 to 6000 per sq ft. Such properties can fetch Rs 12000 to 22000 in a
month as rental income.
Pune has more than two hundred IT and
ITeS companies, of which, a major chunk is located towards East Pune.
Developers have realised the wants of home buyers and are constructing projects
around the office areas. Not only are end users benefitting from these
constructions but also investors. Those looking for rental properties here
consider the less expensive areas like Kharadi and Wagholi. These areas offer
rental properties for up to Rs 25,000 in a month.
End users in the area continue to prefer
neighbourhoods which are a little higher priced such as Hadapsar for the
well-developed social amenities. It has been observed that mostly senior
management professionals prefer staying in the more expensive areas.
If you want to buy flat in Pune, then Hadapsar in the east would be a good option.
There are several reasons for such observation of preferences among home buyers
and rent seekers.
·
Non IT and IT
professionals prefer flats in Hadapsar
Pune because it is near Kalyani Nagar, Koregaon Park and Magarpatta IT
City. Compared to the latter areas, Hadapsar is more affordable and commute
time to these business districts is lesser.
·
Hadapsar is located
along the Solapur Pune Highway and is near the older Central Business
Districts. Magarpatta is located 5 kilometres from new projects in Hadapsar Pune while the MG Road is 6 to 7
kilometres from here. The area is well-connected to Solapur and Nagar Road.
·
PMPML buses connect the
area to different parts of the city. AC bus services can be availed along the
Hadapsar Katraj BRT Route. Numerous state transport department operated buses
ply from and to the area.
·
The area’s social
infrastructure is well-developed as it has several hospitals, malls, schools
and convenience stores to make the lives of residents comfortable and easy.
·
The rental rate for
1BHK flats in Hadapsar is Rs 5000 to 20000 per month and their sizes vary from
500 to 1000 sq ft. For 2BHK flats in
Hadapsar Pune, the monthly rent payable is between Rs 6000 and 30,000 and
their sizes range from 700 to 1400 sq ft. Builder floor apartments that are of
the same configuration and measure between 500 and 1200 sq ft is Rs 5000 to
17,000 in a month.
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