Pune Rents Rise by 20%: 1BHKs in Peak Areas Now Touch ₹40,000

Report by The Newsage.

Pune's Rents Experience Hike of Almost 20%

Pune's rental market has seen a sharp rise, with rents increasing by nearly 20% in the last few years. The steepest hikes have been in areas with a strong IT presence, such as Hinjawadi, Kharadi, and Baner.

Many IT professionals prefer shorter lock-in periods due to frequent job changes, allowing landlords to raise rents more frequently.

Rentals in key areas of Pune have seen a sharp rise in the past two years. The aggregate increase rate can be calculated at 20% for all areas in the city. The most rise was noted in areas developing into major IT hubs such as Hinjawadi and Vadgaon Sheri.

For instance, a 1 BHK in Hinjawadi that previously costed ₹15,000 to ₹30,000 now goes up to ₹35,000. In Vadgaon Sheri, 2 BHK flats that were rented for ₹20,000 to ₹22,000 two years ago now cost ₹28,000 to ₹30,000.