PUNE: The rental values in Boat Club Road have increased by more than 20 per cent in the July-Sept 2013 quarter, as per MagicBricks.com research. “Boat Club Road, along with its neighbourhoods Bundgarden and Dhole Patil Road, is arguably one of the best locations in Pune, in terms of connectivity and up-market feel. There are about 60 per cent investors who are well-off and have spare money to invest. They are reaping high returns today. Several Bollywood celebrities have also invested in properties in this area,” says Amir Pirani, proprietor, Pirani Estates. “On an average, rental values in the area are seeing more than 10-15 per cent rise every year,” he adds.
There were only bungalows here in the past, but they have now been replaced by new buildings. These buildings provide 1, 2 and 3-BHK well-furnished apartments with high-end furniture and good flooring, with asking rents of about Rs 35,000-70,000 per month. The sizes of these apartments vary from 650-2,000 sq ft. “There are apartments offered by developers, which are as big as 5,000 sq ft,” Pirani informs.
“It is mainly the upper middle-class, holding high positions in IT and the corporate world, who are taking up accommodation on rent here. The IT areas such as Koregoan Park, Viman Nagar and Kalayni Nagar, are situated within a distance of 3-5 kms,” explains Avinash Kumar of Amigo Real Estates.
Also, connectivity is playing a major role in pushing the rental values up and boosting the demand for rented properties. Boat Club Road provides easy and short connectivity to the airport, railway station and highways. “The locality is 2-3 kms from the railway station and the Pune-Mumbai Expressway is situated at the distance of 7-8 kms. The proximity to the Pune airport and railway station is a boon for professionals who are regular travellers,” Deepak Sundrani, proprietor, Guru Realty, points out.
Apart from this, the area has well-equipped social infrastructure. It also has numerous shopping centres, educational institutes and hospitals in the vicinity. The popular Royal Connaught Boat Club (RCBC) is also located here, which provides water sports for children.
Considering the amenities available and the strata of people living there, rental values in Boat Club show no signs of going down in the near future.