The idea to own a residential property to yield rental income is a good thing. But, the location plays an important role in deciding the correct rent of your investment. In fact, many people feel that the developing areas the best to invest in but actually in today’s time, the locations near to the co-working spaces are the perfect own residential property as it will help you earn high rentals.
So, scroll down the page and check out the best locations close to co-working spaces in India to earn high rental.
This capital city of southern State Karnataka offers the best rental for residential property. In fact, nearly 3 percent of the real estate market is covered by the co-working space during 2017. However, this share increased to12 percent in the last year 2018.
You can buy a residential property that ranges between Rs. 75 lakh to Rs. 2 crores in the localities like Indira Nagar, Marathahalli, Malleswaram, Koramangala, Hebbal, Jayanagar, Banashankari, Basavanagudi and Whitefield.
According to the real estate expert, a 2BHK unit can yield a rental income of Rs. 18,800 per month and the average monthly rent of 3BHK in the city calculates upto Rs. 29,300.
You can enjoy handsome rental income by investing in the residential property here.
The financial capital of India stands second to invest in residential property to earn high rental income. The co-working space grew manifold only in a year’s time as it was recorded at 7 percent in 2017 and went upto 21 percent in 2018. The world’s most expensive offices are located in this city but still, it lags behind the south city Bengaluru.
You can purchase a housing unit between Rs. 90 lakhs to Rs. 2.25 crores in multiple areas like Andheri, Bandra, Bhandup, Borivali, Chembur, Chandivali, Dadar, Dahisar, Ghatkopar, Goregaon and Juhu.
In these localities, you can easily yield a rental of Rs. 30.700 for 2BHK unit and a 3BHK housing unit can yield a monthly rental of Rs. 56,400.
The national capital city Delhi and its adjoining areas are ranked at the number three position for yielding high rental income from a residential property. With the boundaries of the office space sector widening scope for the co-working firms, the residential areas are also witnessing new heights. In fact, the heart of Delhi i.e. the Connaught Place is the ninth most expensive office location in the world. Here the share of co-working sector increased from 3 percent in 2017 to 10 percent in 2018.
You can buy a residential property with the aim to earn higher rental income in areas like Vasant Kunj, Dwarka, Mayur Vihar, Udyog Vihar, Hauz Khas, Saket, Nehru Place, Karol Bagh, Greater Kailash, Golf Course Road and Cyber City. These properties are available for sale in the price bracket of Rs 85 lakh upto Rs 1.5 crore.
A 2BHK apartment can yield rent of Rs. 16,900 per month while the same can witness a jump of 10x i.e. Rs. 29,000 monthly rental for a 3BHK apartment.
The yet another southern IT city and the capital of Tamil Nadu secure its position in the best four localities to invest in residential property to yield high rental income. Here the co-working sector witness a growth of three present as it had 2 percent of the share in the real estate market in 2017 and the same went upto 5 percent in 2018.
You can purchase a residential property in the price bracket of Rs. 75 lakh to Rs. 1.50 crore in areas like Teynampet, Adyar, Tambaram, Nungambakkam and Anna Nagar. In these localities of the Chennai city you can earn a rental income of Rs. 15,350 for a 2BHK unit per month and a sum of Rs. 25,600 is the expected monthly rental for a 3BHK unit in the city.
In India, the co-working space sector has secured more than 7 million square feet area in 2018, totals to 14 percent of the total lease land during that year.