20 per cent rise in rental values in Yerwada
In 2012 a 1,000 sq ft house which was available at Rs 13,000 for an average monthly rent has now increased its rent to approximate Rs 16,000 per month by the end of 2013.As per data one can estimate an increase of 20 percent in its value and the demand of the locality too.
Yerwada has become a preferred rental option for several home-seekers due to increasing development of burgeoning IT/ITeS industry in the nearby locations. Kapil Khatri of Khatri Estate said the locality is sought by professionals working in the area because of its surroundings by multiple large scale companies such as IBM, TCS (Tata Consultancy Services) and Bajaj Allianz.
On top of that the location of the locality is very appropriate i.e. within an approximate radius of 10-kms from the IT hubs of Pune-Kharadi and Magarpatta.Inpite of rise in rental value still it is relatively affordable over Kharadi and Magarpatta ,which ,makes it more alluring as a rental destination.
In Magarpatta, rental values for a standard 2-BHK apartment varies from Rs 15,000-25,000 per month whereas in Kharadi, the same would be available for a monthly rent of Rs 10,000-20,000.Conversely for a 2-BHK apartment Yerwada offers10, 000-15,000 per month.
However, 1-BHK and 1-RK (1 Room Kitchen) units are the most supplied in Yerwada, depending upon the size of these units they are available within a wide budget range of Rs 5,000-15,000 per month. For an example sized around 250-300 sq ft, a 1-RK commands a rental value of Rs 4,500-5,000 per month, on the other hand a 1-BHK unit, sized around 500-600 sq ft, is available for a monthly rent of Rs 8,000-12,000 per month.
Neelima, a resident of Yerwada mentioned this location is also very close to Kalyani Nagar and Koregaon Park which are considered as high profile locations. Here Maharashtra Housing Board offers well-maintained houses without burning a hole in the pockets of middle income buyers.
The locality offers unparalleled connectivity to these areas along with being close to almost all major workplaces. The Pune-Solapur Highway is just 6-kms away while the Mumbai Highway (Ambedkar Road) is situated at a distance of 5-kms from the location. It has easy connectivity to almost every part of the city through buses which ply regularly and autos are also easily available. From Yerwada both, the airport as well as the railway station, are at a distance of 6-kms.
It is also preferred location due to its developed social infrastructure along with recreation and entertainment options and the majors like hospitals, schools and colleges.
Source: Times of India
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