Top affordable rental tech hubs in Pune

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Famous for offering promising job opportunities and sound infrastructure, Pune has emerged as a preferred housing destination for working populace. Average rental prices across many localities have witnessed paramount growth in Oct-Dec 2017. 99acres.com handpicks a few rental locations that are pocket-friendly as well as close to reputed technology hubs.

In case you have recently shifted to Pune to make the most of the booming information technology and automobile sectors, a well-connected rental accommodation must be at the top of your priority list. Certainly, robust connectivity is ideal for working professionals. Not only does it save travelling time but also augments productivity. However, experts believe that apart from hassle-free link to employment hubs, it is also important to examine the affordability index. As a novice, it is not advisable to take too much of a financial pressure initially. Therefore, 99acres.com unfurls a list of key micro-markets that duly meet all the parameters of quality and affordable rental tech hubs in Pune.

Localities

Average rental rates ‘psf’

Kharadi

Rs 17

Wagholi

Rs 11

Hinjewadi

Rs 14

Wakad

Rs 15

Pimple Saudagar

Rs 17

 

Kharadi:

Among the multiple popular tech hubs in Pune, Kharadi is one of the most reputed locations. Being an info tech corridor, the location has presence of EON SEZ, World Trade Centre, Cerebrum IT Park and series of other prominent IT parks that are spread over millions of square feet. These business parks have created lakhs of job opportunities for the younger crowd that has been migrating to Pune from other cities. These professionals are either single or stay in nuclear families, as a result of which their space requirement is less and do not believe in spending too much on rental expenses. Their motive behind staying in the tech hub is to stay close to their work places so that they can have a work-life balance and do not have to spend time in travelling to work place, avers Rajesh Mhatre- CEO- Real Estate Vascon Engineers Ltd.

Furthermore, availability of vast space for development and low cost of land in Kharadi has resulted in creation of affordable rental home spaces in this location.

Wagholi

With a slew of BPOs and IT corporates and educational institutes, Wagholi has become quite a popular market amidst temporary home seekers. The locality is not only well-connected to important roads such as Mundhwa Road, Nagar Road and Sant Janeshwar Marg but also offers extensive bus services and rail connectivity in addition to plethora of affordable housing options. The area has witnessed slight appreciation in the rental rates. Average rental prices are far more affordable than any other rental destination in the city at Rs 11 psf, making it best for migrants or amateur working professionals.

Hinjewadi

Advantageous connectivity to Pune-Mumbai Expressway and Pune-Bangalore Bypass coupled with sprawling natural beauty, Hinjewadi in the western fringes of Pune has become a key commercial space for corporates across the globe. Currently, it houses several reputed international giants such as KPIT, Wipro, Infosys, Capegemini, and Tech Mahindra. The area has not only garnered traction from job seekers but has also emerged as a prominent housing accommodation for the tenant community owing to affordable rental prices. Despite the area’s popularity and sound infrastructure, it boasts of inexpensive weighted rental rates at Rs 15 psf.

Reports* reveal, while affordable new supplies were evenly distributed across the popular micro-markets, Hinjewadi, a noted IT base, witnessed maximum new supplies in the budgeted category, owing to inherent inclination of first-time homebuyers to buy a house in vicinity to their work base.

Wakad

Approximately 3 km from Hinjewadi, Wakad is another biggest supplier of rental properties in the city offering options at leasing price of Rs 16 per sq ft. However, monthly rental rates may vary as per the size, age of the property and the builder’s name.

Doling out seamless connectivity via strategic road infrastructure and Pune-Mumbai Expressway, the area offers hassle-free ride to intra and inter-city travelers. The area also scores high on livability index with array of hospitals, schools, complexes and entertainment centers, holistically making it an ideal rental market to bet on.

Pimple Saudagar

From a small sleepy suburb to a bustling locality of Pune, Pimple-Saudagar is one of the popular housing markets. Amidst all, rapid infrastructure has been the key growth propeller for Pimple Saudagar. Some of the potential projects include proposed Bus-Rapid Transit System, metro rail connectivity and sound social infrastructure. Besides, area’s affordability has also magnetised large number of rental home seekers. Average rental rates in the locality are pegged at Rs 17 psf. Factors driving area’s affordability includes access to ample land parcels, developing infrastructure and its peripheral location.

*99acres Insite Report


Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.


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