Areas Where to look for best rental returns in Pune?

Pune

An investment of Rs 60-80 lakhs in buying residential properties in localities, such as Yerwada, Kalyani Nagar and Baner Road, could bring you a rental income of Rs 15,000-18,000 per month, on an average. These are the top localities to garner maximum rental returns in Pune, as per  research. Due to the proximity to the airport and railway station, the localities in the eastern parts are evolving as a potential option, from an investment point of view. Rental values in these localities have been rising constantly. In the July-September 2013 quarter, rental values in Baner Road rose by 8 per cent while Kalyani Nagar witnessed an increase of 7.5 per cent. Viman Nagar registered a hike of 3 per cent during this period. Here is a snapshot of the localities and the myriad factors which make them top gainers in terms of rental incomes.

Yerwada

Located in the eastern corridor of Pune, Yerwada boasts of smooth connectivity by virtue of the well-developed road network. Proximity to the airport and the railway station is another factor acting as a catalyst. It has recorded the highest gross yield in the July-September 2013, as per our research. If you have made an investment of Rs 60 lakhs, you can easily expect a rent of up to Rs 15,000-18,000 per month. According to a research“The area has developed on the backdrop of various IT parks, office buildings, shopping malls and other retail outlets.”

Kalyani Nagar

The capital values in this locality hover around Rs 7,600-9,800 per sq ft, while the rent is between Rs 22,000-27,000 per month. It offers a plethora of options, in various configurations, ranging from 2-4 BHK apartments.

Baner Road

Located on the east of the Dehu-Katraj Bypass on NH-4, Baner Road recorded a gross yield of 2.56 per cent, during the July-Sepember 2013 quarter. If you have invested Rs 60 lakhs, then you can expect monthly rentals of Rs 13,000-15,000. It is strategically located near the Hinjewadi IT Park, Mumbai-Pune Highway and Pune Expressway. Arsh Khan, a city-based realtor's, says, “Property values are expected to rise in the coming years as many newly launched projects will be ready-for-possession.”