Mar 07, 2024Pune Real Estate

The Rental Advantage: Hinjewadi Phase 1 as a Hotspot for Rental Income

by Godrej Properties Limited

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Hinjewadi, a significant IT-BPM hub in Pune, is a growing residential area in the north-western part of the city. It has excellent connectivity to Pune and Mumbai through NH-48. With its closeness to major education centres and IT parks, Hinjewadi has witnessed a rise in housing demand and rental income over the past two years. 

Benefits of Owning a Rental Property

Passive income: Owning rental property is a great way to earn money without putting in a lot of effort. It can be helpful for making extra money or ensuring financial security during retirement.

Greater security: Renting out your property can reduce the risk of problems like vandalism or maintenance issues.

Flexibility to sell at the right time: Renting it out lets you wait for better market conditions. It allows you to benefit from potential increases in its value.

Rental income deductions: You can take advantage of all eligible deductions while staying compliant with tax on rental income.

Rental Income Advantage of Hinjewadi

For those interested in generating additional income, Hinjewadi Phase 1 for rental income is a particularly profitable choice due to its strategic location and connectivity. A significant portion of Hinjewadi falls under MIDC, hosting numerous industries, including IT. It has led to a high demand for flats in the area. 1BHK flats are particularly sought after due to limited availability in the inventory, and they are a preferred choice for bachelors from outside the state.

Rental Price Trends in Hinjewadi

Pune's notable markets, Hinjewadi and Wagholi, recorded rental growth rates of 17% and 18%, respectively. Specifically, in the Hinjewadi micro-market, rental values proved particularly favourable for investors, witnessing a 17% increase in the last nine months.

Average rents in Hinjewadi escalated from INR 21,000 per month at the end of 2022 to Rs 24,500 per month by September-end 2023. The average rent for a 2 BHK unit with 1,000 sqft in Hinjewadi is Rs 21,000 per month, marking an increase from Rs 17,500 in 2019.

Godrej Properties in Hinjewadi Starting at Rs. 55.36 Lacs* Onwards

With a variety of 1, 2, and 3 BHK apartments available, the Godrej Hinjewadi project, Godrej Woodsville, offers modern amenities and lush green surroundings. Located conveniently in Hinjewadi, Pune, you can enjoy facilities like sky lounges, themed gardens, and 24/7 security.

1 BHK: ₹55.36 Lakh. onwards

2 BHK: ₹71.86 Lakh. onwards

3 BHK: ₹92.81 Lakh. onwards

<H3>The Final Word</H3>

Investing in rental property in Hinjewadi Phase 1 is a profitable decision. The area's proximity to major IT hubs and educational centres, coupled with the growth in housing demand, makes it ideal for those seeking additional income.

 

Frequently Asked Questions

1. Why are 1 BHK flats in high demand in Hinjewadi?

Ans: Limited inventory and the preference of bachelors from outside the state make 1 BHK flats a sought-after choice.

2. What is the rental price trend in Hinjewadi?

Ans: Hinjewadi recorded a 17% increase in rental values.

 

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