Pune: A Look At Localities With Maximum Returns
When the market is facing a setback or is recovering from one, the best course of action perhaps is to hold on to your property. In case you want to earn good returns from the property while the capital market is moving slowly, lease it. In order to earn good returns from a rental property is to bank on the right location. This could guarantee steady rentals as well as sizeable capital appreciation as well.
One such city that is known to guarantee sizeable return on investment is Pune with some localities having an edge over others. Largely driven by the IT/ITeS sector, demand for housing units is majorly from the workforce working here. The Banking, Financial Services and Insurance (BFSI) along with BPOs and KPOs, too, add to the numbers.
Therefore, the localities that are serving high yields are Hinjewadi, Kharadi, Pimple Saudagar, Baner and Wakad, as they house a lot of IT/ITes offices. Interestingly, Hinjewadi alone boasts about three to five lakh employees.
PropGuide on what's in store for potential settlers in these five localities:
Hinjewadi
A semi-sleeper bus service will soon be rolled out by the Maharashtra State Road Transport Corporation to cater to professionals living in North Maharashtra (Nashik) and working in Hinjewadi.A similar service has been planned for IT professionals in the city coming from Kolhapur.Those commuting from Chinchwad to the IT park would soon experience a smoother ride. As most owners have given up their claim in lieu of transferrable development rights, the road from Bhumkar Chowk to Rajuv Gandhi IT Park can now be widened.Those living near this IT Park or even working here can soon avail the services of a multi-storeyed bus terminus-cum-commercial complex to be built by the Pimpri Chinchwad Municipal Corportation. Hence, with better connectivity and conveniences at hand, Hinjewadi attempts to up the livability quotient.Here are best localities to invest in Hinjewadi.
Kharadi
Realtors K Raheja Corp and Gera have joined hands to come up with an Information Technology Special Economic Zone (IT SEZ) with almost 3.5 million sq ft of leasable space at an approximate cost of Rs 1,000 crore in Kharadi. To be constructed in next four years, the IT SEZ will house many more IT/ITes professionals triggering demand for housing units in and around the area.Popular among startup enthusiasts, the Maharashtra Industrial Development Corporation (MIDC) in association with National Association of Software and Services Companies (NASSCOM) , is keen on establishing an incubation centre that would accommodate almost 120 such companies.Wakad
To ease the traffic flow in Wakad, MIDC has been surveying land to construct a road between Mhalunge to Infosys Phase-I Circle Road. This could be used as a main road, provided the land required to build this infrastructure is available. It could divert almost 50 per cent of the traffic towards Hinjewadi thereby addressing the traffic woes.The Pune Mahanagar Parivahan Mahamandal Limited or the PMPML has started a luxury bus service on this route connecting Hinjewadi Phase-III route.Pimple Saudagar
The Mumbai-Pune highway stretch at Dapodi, the Nigdi-Dapodi stretch, Aundh-Ravet BRTS corridor to Nashik Phata to Wakad as well as another road in Pimple Saudagar have been widened lately.If you are someone who has been totally relying on autorickshaws for commute and have faced over charging or refusals, here is the respite. The traffic police have done their bit to ensure that autos should charge passengers strictly on meter basis. 'Share-a-rickshaw' scheme too may be introduced soon. Errant drivers could even lose their permits. Baner
The area has a new garbage segregation mechanism in place located behind the Kapil Malhar residential society that would help agencies to sort sewage better and faster. It has a capacity of 10,000 households.To make your drive smoother, Baner Road is slotted to get a raised median and funds for the same would be facilitated by the smart city project fund.All these localities have an undeniable appeal among buyers and tenants for the very reason that these are markets with quick access to workplace, hangouts and even social infrastructure. Developments in here to boost livability will add to your returns on investments. So, are you keen on buying a home in Pune? Here are some of the ready-to-move-in projects you could choose from.