<b>Hotspot:</b> Kharadi, Pune

Robust demand from IT sector employees

Pune’s real estate market provides almost everything to homebuyers to choose from, with various areas developing as catchment areas for housing. One of these is Kharadi, which is among the fastest-expanding locations and a well-established destination for property buyers. 

Located on the banks of the Mula-Mutha river to the east of Pune, Kharadi has been growing due to the strong economic policies driving development in this region. It is a major Information Technology- driven growth corridor and is likely to see a lot of appreciation in the years to come. Earlier it was seen as little more than an industrial region. But, today it has undergone a major makeover because of the economic development stemming from its status as an IT hub with projects offering walk-to-work options. 

There is extremely robust demand for residential projects in the vicinity. Many IT giants have joined hands with developers to boost the area by adding luxury to life, making Kharadi a desirable destination for their employees.

While Kharadi is a major IT destination in its own right, it is also adjoined by other IT hubs alongside – EON Free Zone, Zensar Knowledge Park and World Trade Centre being the major workplaces for young Infotech families.

It is in close proximity to the Magarpatta and Amanora townships and has the unique advantages of being well-connected to Pune railway station (9 km) and the airport (8 km). Improved road infrastructure also provides easy connectivity to various malls (Phoenix Market City, Amanora Town Centre and Seasons), hospitals including Columbia Asia and KK Hospital, prominent hotels such as Premier Inn and Hyatt. All necessities of daily living are conveniently available as all these amenities are located within a radius of 1-2 km. 

Alongside Kharadi are other important locations like Viman Nagar and Koregaon Park as well as major employment hubs like Shikrapur and Wadgaon Sheri. The area also has well-developed social infrastructure and educational institutions such as Nirmala Convent, URSAL College, International School and Shankarrao College of Pharmacy.

Property rates in Kharadi range from Rs4,300 - 10,000 / sq ft depending on the exact location, project’s completion status and available amenities, with the current appreciation being 4 per cent per annum. Since Kharadi is one of the fastest-expanding localities with superb location advantages, leading developers such as Kolte Patil, Gera Developments and Nyati are very active in this region. There are also many more builders coming up with luxurious projects to offer to a wide range of clients.

Moreover, this region has been able to retain its green and peaceful atmosphere despite it being one of the most developing real estate destinations in Pune. 

The writer is Managing Director – Pune, JLL India