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Rental Property in Pune

Pune is a bustling city just like Mumbai and Delhi. The commercialization of the place in the last 10-years has resulted in development of infrastructure, roadways, and residential buildings. People are moving into Pune everyday for business, professional, and educational reasons. This has led to an increase in demand for the rental property in Pune. The city is also an important shopping district with several popular designer houses having retail outlets in the city. The growth of commercial rental property in Pune is because of this reason. 

The Pune’s real estate segment is chiefly driven by the IT, BPO, and the automobile industry segment. The places like Baner, Kothrud and Aundh, are particularly experiencing a huge growth. They have developed into prime locations which now has affordable to expensive rental homes in Pune. 

Rental market in Pune

The central areas like Model Colony, Koregoan Park, and Boat Club Road command high property prices whether ownership or on rent basis. The homes on rents in these areas also have a high security deposit value that extends up to Rs 55,000 for 3 BHK apartments. Since there are no home loan facilities for rental property in Pune, it is important that one chooses a home gauging his own budget and affordability. A rental home in Pune need not be the dream house for you; it should just serve the immediate purpose of quality and hygienic stay in a good locality preferably.
Prices of rental homes in Pune are low in the developing suburban regions like Pashan that offer affordable housing options to Pune residents. Those who have already decided to settle down in the city, viewing the high prospect that it offers can avail the rental property in Pune until they are able to purchase a house. Many options are available throughout the city and its outskirts. And it is no more a difficult task to find a home that is suitable to you within your budget. 

Rental rates in Pune

A growing IT-hub like Bangalore, the commercial rental property in Pune and the residential complexes both have large number of takers in Pune. Expensive or not, the 2 BHK apartments are mostly in demand. This is also because at least 60 per cent of the population in Pune prefers the single-family homes. The prices of homes vary with the location, area square unit, type of homes, and also the advantages and facilities that a tenant is likely to enjoy.
The major turning point in soaring demand for rental property in Pune came with the initiatives of the real estate agents who suffered major losses in sale of ownership homes up to 30 per cent in 2007. Their focus turned towards the rental market in Pune that was at the booming edge.
Rental property zones in Pune Prices
North Rs 8,000-Rs 20,000
South Rs 5,000-Rs 15,000
Central Rs 6,000 onwards
West Rs 7,500 onwards for 2 BHK Flats
Suburbs (town) Rs 4,000 onwards