Top 2 Localities of Pune to Rent Property In

Pune is a fast growing city and most surveys have estimated that Bangalore and Pune are the cities whose capital values for residential properties are growing the fastest. Both cities are centres for the IT Boom and there are certain areas in Pune which are doing very well. Most of the IT firms of the city are concentrated in Koregaon Park, Viman Nagar, Kalyani Nagar, Hinjewadi and Aundh. Therefore, it is natural for rent seekers to prefer these areas.

Those interested in living in Central Pune, close to the railway station and airport and other IT hubs should choose Sopan Baug or Vishrantwadi. These areas are less expensive compared to Koregaon Park and Viman Nagar but they offer good connectivity and quality of life to their residents.
Vishrantwadi

Those who have invested in Vishrantwadi in Central Pune have much reason to rejoice. When it comes to the rental market, the locality gives areas such as Kalyani Nagar and Viman Nagar a chase for their money.

The highest returns for the second quarter of 2014 have been clocked by this area with a rental yield of 3.18 percent. Therefore, you are set to receive the highest rental returns every year compared to other areas of Pune if you have invested in property here.

Currently, capital values of Vishrantwadi are around Rs 5100 to Rs 6500 per sq. ft Therefore, if you have invested roughly Rs 50 lakhs in a property here, you can earn around Rs 1.5 lakhs from it every year.  The capital market of the area is saturated almost but the demand for rental accommodations is quite high here.

Affordable and Plush

Vishrantwadi is a classy area in Pune to live in which offers premium lifestyle. Also, compared to areas such as Viman Nagar, Kalyani Nagar and Koregaon Park, where the rental values are roughly 20 to 25 percent more, the rental values of Vishrantnagar are much affordable.

Flats in Pune for rent in the 3, 2 or 1BHK style are available here for Rs 12000 to Rs 20000 in a month.

Infrastructure and Connectivity of Vishrantwadi

Because of its central location, access to different parts of Pune is possible from here. The area is near the Alandi Road which is in proximity to Viman Nagar, Kalyani Nagar and Shivaji Nagar. The important roads which connect Vishrantwadi to other areas of Pune are Dhanori Road and Vishrantwadi Airport Road or Tingre Nagar Road.

The airport and Pune Railway Station in Lohegaon is quite close. The airport is roughly 8 minute drive away or 4kms from here and the railway station is only 7kms which takes 20 minutes by car.  Autos and buses connect the locality to rest of Pune. The PMPML or Pune Mahanagar Parivahan Mahamandal Limited has a number of routes on which buses ply. A proposal for implementing BRTS corridor on Airport Roads and Alandi has also been proposed.

The social fabric of the area is also well developed as retail and brand showrooms are present here. Banks, restaurants, medical care centres, colleges and schools are present here.

Closeness to IT hubs

The IT hubs of Yerwada Jail Road are only 3kms from Vishrantwadi. IT employees would find this a promising location to be in because of the presence of companies such as TCS and IBM. In fact, IT employees are the biggest demanders of rental flats in Pune Vishrantwadi. In terms of connectivity, Vishrantwadi is a good place to stay in for connectivity, good lifestyle and affordability.

Sopan Baug

One of the most premium areas in Pune is Sopan Baug whose flats’ capital value is around Rs 1 crore roughly. Surprisingly, rent is quite affordable here. Spacious and premium properties are available in this area for only Rs 17,000 as monthly rent. For this amount, you can easily rent a 2BHK apartment here.

The capital values in Sopan Baug for 3 and 2BHK flats are between Rs 75 lakhs to Rs 1.45 crores and more. Surprisingly, the rental values are between Rs 18,000 to Rs 25,000 in a month. For a 2BHK apartment whose size is between 1000 and 1200 sq. ft., you have to pay Rs 20,000 as monthly rent. Several options for 3BHK apartments are also available for Rs 25,000 or more in a month. These flats range from 1400 to 1600 sq. ft. 

Most people who relocate to Pune for jobs assume that cost of renting an apartment in Pune’s premium and posh locations is very high. However, most of them are taken aback when they find out that the rental accommodations in Pune’s prime locations are not only affordable but also spacious and comfortable. They offer peaceful environments which allow residents to live a relaxed and quality life.

Sopan Baug is close to Kalyani Nagar which is a hub of IT firms. A lot of IT firm employees choose to stay at Sopan Baug over Wadgaon Sheri, Koregaon Park and Hadapsar.  This is mainly because of the peaceful environment offered by Sopan Baug for its proximity to the Empress Garden. Peaceful and serene environment along with spacious flats offer good and quality life to renters.

Rents in Sopan Baug are slightly higher than Hadapsar and Wadgaon Sheri although the locality is quite well established and is classified as premium over many others. The social infrastructure is also quite good in the area alongside connectivity. Another positive aspect of SopanBaug is that its rents are cheaper by 10 to 15 percent compared to Kalyani Nagar and Koregaon Park.

Sopan Baug enjoys good connectivity with the railway station and the airport via the Princes of Wales Road. Lohegaon’s international airport is only 9.5kms away from here while the Pune Railway Station is only 4kms away. Other prominent areas such as Koregaon Park, Kalyani Nagar and Viman Nagar are only 5 to 9 kms away from here. The posh location, access to other posh and important areas and a serene and calm environment in Sopan Baug attract property buyers and renters.

Therefore, if you are new to Pune, you should choose one of these affordable, safe and secure localities to live in.