Pune Rental Value up 5% Q-o-Q

PUNE

A high-end apartment in a prominent development in Kalyani Nagar was leased out for a total rental value of Rs 1.4 lakh per month. The apartment was leased by a leading corporate house for the residence of a senior executive . Situated in a central location in the city, the apartment provides good living experience apart from being easily accessible to various social infrastructures like retail and entertainment, healthcare and other amenities . The average rental value for comparable residential properties range from Rs 90,000 to Rs 1.3 lakh. Rental values in the region have seen an increase of about 5% over the past quarter owing to the growing demand from Indian and global companies increasing their presence in the city.

KOLKATA

An apartment measuring about 2,407 square feet was leased for a monthly rental value of Rs 60,000 per month. Located in the upcoming area of Rajarhat on the northeastern cardinal of the city, the property is situated in a premium residential apartment complex. The average rental value for high-end apartments in the location range from Rs 45,000 to Rs 65,000 per month and has registered a growth of about 6% in the last quarter. However, going forward, values are expected to remain stable as the rental market is sensitive to rapid upward movement in values. Rajarhat as a location is expected to see more transactions owing to the growing presence of corporations in the city.

NATIONAL CAPITAL REGION

A high-end residential unit, located in Vasant Vihar, was leased for a total rental value of Rs 3.5 lakh per month. The value commanded by the property, located in one of the most sought-after locations, is in line with the current market values, which range from Rs 2.75 lakh to Rs 4.75 lakh. The rental values have seen an increase of about 3% in the past quarter due to a rise in demand. The area is strategically situated and is close to Gurgaon , the new office hub, and from the Secondary Business District of Nehru Place, Jasola, as well as the Central Business District. It is also very close to the international airport of the city and has excellent social infrastructure .

Source: Cushman & Wakefield