Rental values in Kharadi and Baner driven by IT industry
For property owners in Kharadi in East Pune or Baner in West Pune, there is a good reason to cheer. The rentals in these locations have gone up by 28-31 per cent in the last two years. According to a survey, 82 per cent of home-buyers consider investing and staying near their work place or an IT hub. This trend has pushed up the rental values of the properties in the area.
Another survey showed that the main demand was that of 1 and 2-BHK multi-storey apartments, usually available within the range Rs 5,000-10,000 per month. In Kharadi, one could easily find 1-BHK apartments of 500-700 sq ft, within Rs 10,000 per month.
Rohit Gera, MD, Gera Developments points out that the availability of the properties is in line with the requirements of the buyers, thereby pushing the rentals in the area. He adds that the unsold inventory usually remains at low levels.
Sagar Panhalar of Fortune Properties informs that proximity to railway station, airport and various IT hubs is attracting a lot of interest in the properties in the area.
Experts believe that the investments in the area will offer both – capital appreciation as well as good rentals.
Source: The Times of India
capital appreciation, Inventory, IT hubs, Properties, Pune, rentals
