Pune has become kind of the next-destination location for people to relocate, giving its large number of IT companies which have come up in past few years. Pune is considered to have a large number of HNIs (High Net-Worth individuals) than any other top cities in India. The HNIs who are at a senior level in top MNCs, ITs or who have start up of their own in the city are investing a lot in real estate properties in India . Individuals with high net-worth income tend to invest more in real estate than any other investment. As real estate tends to be more easier to understand than SaaS, (software -as-a-service) most of the HNIs are likely to invest in it. As with the improved policies and reforms by the Government, India has come up with a strong economy.
The best location in Pune for HNIs to invest would be those places which would give high rentals for their property. Residential market in Pune has seen significant growth in terms of rentals. In areas around Hinjewadi, Balewadi, Baner, Aundh and Bavdhan which have largest number of IT companies, the rental is high. You will find 1BHK apartments in the range of Rs 8,000 to Rs 14,000, whereas 2BHK apartments would be in the range of Rs 13,000 and above.
Few locations in Pune the HNIs should Invest in
Hinjewadi has evolved as a leading IT hub, which has some of the major software companies. It is close to Mumbai-Pune Expressway. Due to the presence of the companies, there has been a lot of demand in the residential projects. As the employees find it easier to commute from their work place, they prefer rented apartments in the same area. 1 BHK apartment in Hinjewadi rental starts from 12,000 to 16,000, whereas 2BHK ranges from 14,000 to 30,000. If you are looking to invest into commercial property then a small office area of 500 sq ft would earn you Rs 65 per sq ft that is approximately Rs 32,500 per month; the bigger the space is the larger would be the income. If you opt for the right property you can get returns as good as 12-14 lacs per month through rentals itself. Residential apartments price would be anywhere between Rs 4590 to Rs 11,000 per sq ft. Hinjewadi has seen 31% of growth in its price since 2013 and is expected to grow more in coming years.
Baner is strategically located in the close vicinity of Mumbai-Bangalore highway. It has Pashan in the south and Balewadi to the west. Baner has also developed a lot in past quite a few years and has got a number of start ups and software companies. The demand for real estate in Baner has grown as it has experienced a cluster of residential as well as commercial developments. Rent for 1BHK apartment is found in the range of Rs 11,000 to Rs 16,000, while the rent for 2 bhk apartments in Baner would be between Rs 15,000 to 25,000 depending on the locality. Commercial property rent can be anywhere between Rs 75 to Rs 95 per sq ft depending on the constructional quality and the infrastructure of the property. So if you have substantial amount of area, you can earn a good amount of profit from your investment. Residential property price in Baner is currently ranging between Rs 5700 and Rs 9,000 per sq ft. Baner has seen 40 % of growth in its price since 2013.
Pune has seen a surge in IT and ITes-BPOs segment which, in turn, has revamped the corridors of the city landscapes. Kalyani Nagar has emerged as one of the best locations for investment in real estate. Today it has become the most renowned location for information technology and has turned out to be one of the most upmarket residential zones. The rental for residential property would be anywhere between Rs 12,000 and Rs 45,000; 1BHK apartment rent ranges from Rs 12,000 to Rs 18,000 and 2BHK rent would be around Rs 15,000 to Rs 27,000. For commercial properties, the rent would be between Rs 60 to Rs 90 per sq ft. Residential properties would be in the range of Rs 7,352 to Rs 9,000 per sq ft. There has been approximately 35% growth in the price in Kalyani Nagar location in terms of residential properties.
Kharadi has seen a growth of almost 35% in its price since past few years. Residential property prices in kharadi are between Rs 5,900 to Rs 6,300 per sq ft, and have been a boon to the investors. Kharadi is known as the new upcoming IT hub of Pune as it houses major IT companies. Commercial spaces like EON IT Park, Cerebrum IT Park, Special Economic Zone (SEZ) etc. have made it one the most sort after locations for investment. The residential property prices in kharadi range between RS 5,100 to Rs 7,500 per sq ft. The rental for 1 BHK in kharadi would be between Rs 10,000 to Rs 15,000, whereas for 2 BHK, it would be in the range of Rs 13,000 to 30,000 if fully furnished and placed in top locality. Commercial property rent would be between Rs 60 and Rs 90 per sq ft.
To conclude, Pune offers an array of opportunities to the HNI investors, helping them get the best worth for their money. HNIs looking for new properties in India are always in search of things that can meet their lifestyle the best and Pune, as a home to all the desired amenities, has been successful in catching their interests in the best possible manner. Also, now that RERA has come with the full effect, all the ongoing properties would now be registered under the act, thus reducing the doubts of the investors to a significant extent.