Why you should buy a home or invest in Kharadi, Pune

Fri, 05/17/2024 - 06:35

Author: JLL

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Kharadi boasts impressive growth in real estate development, transitioning from an industrial zone to a thriving residential and commercial hub. There is a strong growth in property prices in Kharadi, with rates ranging from ₹ 7,746 to ₹ 12,465 per square foot in May 2024

Sales Trends

Kharadi stands out as one of Pune's hottest micro-markets, significantly contributing to the city's real estate activity. IT-ITeS professionals fuel significant demand for residential properties, with 30% of Pune's projects delivered between 2013-2017 concentrated in Kharadi.

Kharadi has experienced significant capital appreciation in the real estate market, with prices rising by about 35% in the last few years.

Residential and Rental Growth

Experts are predicting a 15% year-on-year rise in residential demand for top 8 Indian cities, including Pune, indicating a promising future for Kharadi in 2024 The average price range of rental properties in Kharadi as of 2024 is between ₹5,000 to ₹17,000 for 1 BHK, ₹6,000 to ₹55,000 for 2 BHK, and 3 BHK flats commanding ₹48,000-120,000.

Pune has shown a downward trend, while Kharadi has shown an upward trend since the last six months

Strategic location along the Eastern Metropolitan Corridor. Exponential growth in residential and commercial projects over the past decade. Home to renowned business & technology parks like EON Free Zone, Zensar Park, and Gera Commer Zone. Major IT and financial institutions like Credit Suisse, Barclays, Citi Bank, Amazon, Tata, Google, and World Trade Centre have offices in Kharadi. Proximity to other significant employment hubs like Magarpatta, Keshav Nagar, and Mundhwa within a 10 km radius

Civic Infrastructure

Kharadi has been a focus of the Pune Municipal Corporation's development initiatives, resulting in excellent civic infrastructure and road projects. The area offers a well-developed social infrastructure, including schools, educational institutions, retail hubs, healthcare facilities, and hospitality options.

Metro

Kharadi is set to get a metro station through an extension of Line 2 between Vanaz and Ramwadi in the proposed Phase 1 of the Pune metro. The launch of the metro project is anticipated to lead to a significant increase in property prices in Kharadi, with some estimates suggesting a rise of over 50% depending on factors like location and land use. The detailed project report (DPR) for this extended route has been prepared by the Maharashtra Metro Rail Corporation Ltd (Maha-Metro) and approved by the Pune Municipal Corporation (PMC)

Airport

Pune International Airport' is a mere 20 minutes drive from Kharadi. It’s proximity to Kharadi plays a crucial role in enhancing connectivity, stimulating commercial growth, and fostering economic activity in the region, making Kharadi a desirable location for both residential living and investment opportunities.

Kharadi has a lot to look forward to, including a proposed 43-acre IT Park.

The Pune Metro Phase-II includes a planned metro corridor from Hadapsar to Kharadi, which will enhance connectivity in the area.

Two flyover projects are in the pipeline for Kharadi Bypass Chowk and Nagar Road, which will help to ease traffic congestion in the area.

So, if you're thinking about making Kharadi your home or simply investing in it, you're on the right track and this is right time.

Happy House Hunting!

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