A
Arvind Rao
posted on 12 MayPune rents: Is this hike justified for anyone?
Just spent the weekend talking to some brokers in Hadapsar, and the rental market is just wild right now. Log bol rahe hain ki rent 30-40% upar chala gaya hai pichhle do saal mein. My 2BHK in Baner ka rent bhi badha hai, but Hadapsar toh next level hai. Honestly, I think it's pure landlord greed, not really justified by anything. Yes, demand hai from IT folks in Hinjewadi and NIBM, but itna bhi kya? They're just milking the situation. Investors who bought property for rental yield are probably laughing all the way to the bank, but for tenants, it's a nightmare. Is this sustainable? Mujhe toh nahi lagta. It's making EMI look way more attractive than rent. Landlords have zero justification for these insane jumps. Change my mind.
#pune-rent#hadapsar#landlord-greed#rental-yield#emi-vs-rent
Comments
Pure landlord greed. No other explanation. Meri toh savings zero ho gayi hain is rent ke chakkar mein.
The post hit home so hard. I'm a first-time buyer saving for my down payment, and these rents are making it impossible to save effectively. Every month, a huge chunk goes to rent. How are we supposed to build capital for a home when the basic living cost is so high? Is there any hope for rents to stabilize or even come down in Pune?
No hope bro, no hope. Best bet is to try and find a flat in an older society, like U11 said. Only way to save a bit.
U4, that's the million-dollar question, isn't it? Stabilization seems unlikely in the short term, especially with the continuous influx of professionals. However, I've seen some small pockets, like further down towards Kothrud or areas beyond Wagholi, where rents are slightly more reasonable, though connectivity might be an issue. Also, consider looking for older buildings; they sometimes have lower rents compared to new societies, even in good locations. It's a trade-off, but might help with savings.
While I agree the hikes are steep, we also need to look at it from the other side. Property prices have also shot up significantly, especially in areas like Hadapsar and Baner due to the IT boom. So, an investor who bought a property for, say, 80 lakhs two years ago, might have paid 1 crore+ for the same today. Plus, maintenance costs, property taxes, and increasing home loan EMIs for them have also gone up. It's not just pure greed; there's an underlying economic shift. Demand from IT professionals in Hinjewadi and NIBM is genuine and high, and supply hasn't caught up. It's a classic demand-supply imbalance, exacerbated by inflation. The question is, who bears the brunt?
Market forces apni jagah hain, but is this really sustainable for the long run?
Exactly, U8! I know an investor who bought multiple flats in Hinjewadi Phase 3 specifically for rental yield. Unhone toh bas booking ke time ka rate dekh ke invest kiya tha, ab jab market upar hai, they're just milking it. They don't even live in Pune. It's becoming a landlord's market completely. For us, who are trying to save for a down payment, these rents are just eating into our savings. It's a vicious cycle.
U3, I get your point about property prices and investor costs, but 30-40% hike is still wild. My landlord hasn't done a single repair in two years. No upgrades, no nothing. Bas 'market rate' bolke badha diya. That's where the greed comes in. They're just pushing all their costs onto the tenant, and then some.
Bhai, you're not alone. I'm looking for a 1BHK near Sinhagad Road and the prices are just insane. Jo flat last year 12k ka tha, ab 17-18k bol rahe hain. For a first-time buyer like me, it's just pushing the dream of owning a home further away. EMI ka option sach mein attractive lagne laga hai.
Same pinch, U2! I was eyeing a place in Ambegaon Budruk. Last year, it was doable, but now with the interest rates also going up for home loans, and rents soaring, it feels like we're stuck. Are these landlords actually doing any major upgrades to justify these hikes, ya bas market ka faida utha rahe hain?
Haan, Sinhagad Road pe toh sach mein aag lagi hui hai. Hum bhi dekh rahe the wahan, but budget out ho gaya. Ab Akurdi side shift hone ka soch rahe hain, thoda wahan relief hai abhi tak.
Totally agree with this! Hadapsar toh next level ho gaya hai. Mera friend Amanora Park Town mein reh raha hai, uska rent 2 saal mein 40% badh gaya. Matlab kya yaar, itna toh hike salary mein bhi nahi milta.