East Pune promises high rental returns

Pune Kharadi Real Estate

Rental returns is the simplest way to increase your income. If you are looking to earn a good monthly rental, then the bustling city of Pune has a lot to offer. As more and more people migrate to the city in pursuit of better job and education opportunities, demand for rental accommodation is witnessing an upward trend.

From an investment perspective, due to proximity to the airport and railway station, localities in the Eastern parts of Pune are evolving as potential options. A standard 1000-sq ft apartment in localities such as Kharadi, Viman Nagar, Kalyani Nagar is available between Rs 60-80 lakh.

As per a recent research by Magicbricks.com, these were the top areas to garner maximum rental returns in Pune. Also, the rental prices in these localities have been rising consistently. In the Jul-Sep 2013 quarter, rental values in Kharadi, Viman Nagar and Kalyani Nagar recorded a rise of 7-8 per cent.

So, what has helped these areas to score positive on the real estate graph?
Research by Magicbricks  finds that Kharadi and Viman Nagar have developed on the backdrop of the IT companies. “Both Viman Nagar and Kharadi boast of numerous IT parks.

In addition, these areas have various office spaces, malls and other retail outlets,” says Sagar Panhalar of Fortune Properties. Proximity to the airport as well as the railway station is another factor acting as a catalyst in luring tenants to the area. Thus, if you have made an investment of Rs 60 lakh, you can easily expect a rent of up to Rs 15,000-18,000 per month.

Another locality in the eastern region that promises good rental returns is Kalyani Nagar. However, being one of the prime areas of the city, while investing here you will have to shell out a little more as compared to Kharadi and Viman Nagar.

Apartments of 1000-1220 sq ft are available in the range of Rs 7,600-9,800 per sq ft. On an average, the wide range in Kalyani Nagar is between Rs 75 lakh to Rs 1 crore. Rental values command between Rs 22,000-27,000 per month.

Kalyani Nagar offers an array of options in various configurations ranging from 1-4BHK apartments. “Centrally located, Kalyani Nagar is a well-developed area that is preferred by mid and high segment home buyers, mostly IT professionals,” informs Rajiv Punjabi of Astitva Real Estate.

Apart from these, Wanwadi, Wanowarie and NIBM Road are few other eastern localities that can fetch good rental returns. Thus, if your pocket allows, investment in these localities can garner you good monthly income. source magicbriks.