Pune is an emerging real estate investment hotspot in India. Two prominent reasons to invest in flats in Pune and its exponential development are employment and education. A large number for migrant population moves to Pune in order to study or work every year, pushing the demand for rental housing in the city. Old and upcoming developments in the city continue to meet this demand.
It is a thriving commercial city with abundant employment opportunities especially in IT and ITes and industrial sectors. It is one of the best cities for education, with 4 universities, more than 20 engineering colleges, more than 2 hundred other colleges and other nationally and internationally accredited institutions. Even foreign universities are now setting up their campuses or tying up with the existing ones in Pune to establish a base in India.
Needless to say these opportunities are throwing up huge demand for residential properties both for rent and buying purposes. You have option to buy 1 BHK flat in Pune, 2 BHK, 3 BHK and even luxury apartments depending on your budget and requirements.
So if you wish to buy flat in Pune or take a flat on rent in Pune, let us have a look at some desired top localities in Pune. These areas are dotted with flats for sale in Pune.
Top Residential Spots in Pune
With IT hubs spread across Pune, investment in real estate is a good option. The following localities have witnessed a positive trend with most of the giant companies such as Infosys, Wipro, Cognizant, Capegemini etc. located in the corridors of these areas. Whether you wish to rent house in Pune or buy new flat in Pune, you can be assured of good returns on your investments.
This being the IT hub; it offers a variety of options to buyers or tenants ranging from budget homes to luxury houses. A tenant can find accommodations that may cost a monthly rent starting from Rs 5,000 to Rs 45,000. The size of these units vary anywhere between 600-1,500 square foot (sqft) on an average. Premium, luxury, affordable: you have abodes for everyone here. Due to huge demand, the rental yield in the area is handsome, too.
Hadapsar is a well-developed locality in Pune, lying close to two special economic zones, the Fursungi IT Park and the Magarpatta City. Located in the east of Pune, it is connected to some of the key cities such as Nagpur and Mumbai through the National Highway 9 and the Super Highway-27. City-run bus transport services connect it to the rest of Pune. The city’s railway junction is 4.5 km from Hadapsar while the international airport is 15 km away. The market is apt for those looking for premium properties for rent.
Further, comparatively, this locality is also affordable the sizes of apartments range between 500-3,000 sqft. and the monthly rent may range between Rs 7,000 to Rs 3 lakh per month. Those looking for 2BHK and 3BHK apartments can find a large inventory here.
Wakad is a Pune suburb located in the northwest. The locality has ample educational institutions and many gated housing societies, making it an apt choice for those planning to live with families. Its proximity to Hinjewadi, a prime commercial hub of Pune, has improved the market value of property here. The locality also lies near the Pune Expressway and the Mumbai Expressway, ensuring connectivity to other cities around. While the railway station is 12 km from Wakad and the international airport is 20 km.
Wakad is also popular among Pune’s tenants because of its affordability factor. A 1BHK apartment may demand a monthly rent of Rs 4,500; it may run up to Rs 95,000, too, if you are seeking luxury apartment. Likewise, size of these apartments units are in the range of 1,000-2,700 sqft.A large number of these apartments are in 2BHK and 3BHK configurations.
Wagholi is counted among the most affordable localities to rent an apartment in Pune. The locality is surrounded by university and engineering colleges, making it an apt choice for young students looking for an accommodation to rent at affordable prices. The locality also has a strong connectivity with the IT hubs in Hadapsar and Kharadi. This makes Wagholi a choice of residential location for those who can’t afford expensive rentals around these IT hubs.
Rents may fluctuate between Rs 4,500 and Rs 1 lakh a month, depending on the kind of amenities you seek.Most of these apartments are in 2BHK configuration.
Kharadi is among the premium rental markets in Pune, owing to its proximity to the MIDC Knowledge Park and the EON free zone. Located on the outskirts of Pune, Kharadi is a choice of destination for those working around here. One of the selling points of this locality is the spacious properties. It is also connected to the other IT hubs such as Hadapsar through the Kharadi-Hadapsar Bypass Road. The railway station is 15 km from here while the airport is only 8 km.
Since the area has the privilege of hosting a special economic zone, Kharadi is a favourite among young professionals working with IT/Ites, advertising, marketing, analytics and data services companies here. Consequently, the demand for rental homes in this area is huge.
A house on rent can cost you anywhere between Rs 5,000 to Rs 1.50 lakh per month, depending on the size and facilities. The apartments here are in 2BHK, 3BHK and 3BHK+ configurations.
Located in the western suburbs of Pune, Kothrud is home to various technology companies and colleges. Working professionals as well as students are always on a lookout for best rental deals here. In fact, Kothrud is among the most affordable rental localities in Pune. The locality, given its strategic location, has a well-developed social and civic infrastructure. If you are looking for affordable options this locality has maximum 1BHK flat on rent in Pune; to buy or rent.
Apart from these there are a range of residential properties to choose from in other prominent localities such as Talegaon, Tathawade, Rahatani and Kamshet. Check out these locations before zeroing in on your abode. All the best!