Is Kharadi, A Booming Market For Real Estate

Pune is evolving and growing as a major IT and manufacturing hub. It is home to many MNCs across industries and is poised to keep growing in the coming years. These potentials have triggered the infrastructure development of the city expanding its boundaries into lesser-known regions near the city. The expansions create new micro markets for real estate to meet the growing need for commercial and residential properties. Kharadi is one such locality that cannot be called a new market, yet is one of the fast-growing regions of Pune that is gaining popularity for investors and home-buyers alike. The region is seeing an expansion of the IT and manufacturing and retail and hospitality sectors. Its connectivity to other major hubs, commercialization, and premium property development has made it one of the leading destinations for investment.

Leading IT Hub

Kharadi houses some of the major IT parks in Pune - EON Free Zone, Zensar Park, and Gera Commerzone to name a few. Pune’s World Trade Center is also located in Kharadi. IT majors like Wipro, Barclays, and TATA amongst others, have their offices here.  It is also close to other important employment hubs like Magarpatta, Keshav Nagar, and Mundhwa. Important connecting roads like Beed-Ahmednagar Pune Road, Kharadi South Main Road, and Fountain Road are emerging with new offices and retail avenues.

Connectivity

Kharadi is well-connected by road to major commercial and residential areas like Koregaon Park, Viman Nagar, Wagholi, Magarpatta, Kalyani Nagar, Hadapsar, Cyber City, Chandan Nagar, and Mundhwa. A metro corridor has been planned from Hadapsar to Kharadi under Pune Metro Phase II, which will augment the location’s marketability. The authorities have planned road revamps of the locality at a cost of 123 crores. The beautification of parks, jogger’s tracks, and children’s play area are other projects focussed on improving the attractiveness of Kharadi real estate. 

Social Amenities

Kharadi has many noteworthy schools and educational institutes, hospitals, and retail complexes. As most of the population belongs to the working population one can witness a metropolitan lifestyle with many options for recreation. Malls, restaurants, multiplexes, and shopping complexes ensure a good social life. Kharadi has an ideal social ecosystem that makes sure its residents live a comfortable life. These factors propel developers to build new flats in Kharadi to meet the demands of a growing working population.

High Returns

The property market of Kharadi has seen major appreciation over the past two decades. The appreciation is expected to be 12% yearly in the coming years. The appreciation is mostly dependent on the development of IT parks, offices, and manufacturing units. There are many under-construction residential projects offering beneficial investment deals in the Kharadi real estate market. 

Kharadi’s proximity to the Mula Mutha River and dense hilly regions make it a perfect combination of an urban location amid natural surroundings. This locality in Pune checks all the boxes that one looks for to live a fulfilling and comfortable life. Investing in property in Kharadi will give handsome rentals as well as price appreciation over the coming years.