The decision to invest in rental property in Pimpri Chinchwad is an excellent one. Pimpri-Chinchwad, commonly referred to as the PCMC area of Pune, is a rapidly growing real estate market and therefore a important property investment destination.
Remember that your aim is to buy property in Pune which will generate rental income for you. Your objectives are different from those of someone who wants to buy a home to live in. You are not tied to the location yourself, but you still want it to generate a sufficient amount of rental income for you. At the same time, you want a property in Pune which requires as little maintenance and upkeep as possible.
Since you are looking at Pimpri Chinchwad, you have several advantages when it comes to investing in a Pune rental property. The first advantage is that, when compared to central Pune, property prices are much lower. The second advantage is that Pimpri Chinchwad has a few very good integrated township projects which offer excellent amenities and value for money. Integrated townships have much lower maintenance costs and much better maintenance quality than normal properties in Pune, since their upkeep in professional and centralized.
The third advantage of investing in a rental flat in Pimpri Chinchwad is that there is a huge rental demand for residential properties in this area. For instance, Ravet is an extremely strategic location because it is the first town one encounters while leaving the Mumbai-Pune Expressway. Ravet has become famous as the Gateway to Pune. It is in fact a junction of the old NH4, the Katraj-Dehu Road bypass and the Mumbai-Pune Expressway. Also, it is very close to the Hinjewadi IT hub and Pimpri-Chinchwad industrial belt.
This location in Pimpri-Chinchwad has a huge requirement for rental accommodation from the business class. For this reason, township properties in projects such as Celestial City – a joint venture by Pharande Spaces and the Rama Group – are in great demand. Ravet is an excellent Pune property destination for those seeking to invest in a rental flat in the PCMC area
Yet another very lucrative investment destination is Moshi, which is the venue for the upcoming International Convention Centre. This world-class convention centre will become the most important location for the prolific manufacturing sector in PCMC, which boats of a number of global industry giants have their plants. In anticipation of the huge demand for properties in this area, Pharande Spaces launched an ambitious integrated township project called Woodsville in Moshi, which is already selling out rapidly.
Remember that location is one of the most essential elements to consider while purchasing the right rental property. Keep in mind that properties which are strategically located and also have schools, parks, ready access to public transport and shopping facilities in close vicinity will get you the highest rental income. In this respect, investing in a properly located township property is by far your best bet.