In terms of metropolitan economies, Pune ranks seventh in India. The city also boasts the sixth-highest per capita income in the nation. This is not surprising given the phenomenal expansion this city has experienced over the past ten years. Let’s cover the top reasons to invest in Kharadi, Pune.
Modern IT parks are located in places like Kharadi, Hinjewadi, Magarpatta, and others places. It is understandable why residential property prices have increased dramatically in these specific areas.
Kharadi has experienced the most significant development in the social infrastructure of all of these. There are numerous reasons to invest in Kharadi as it is becoming the most popular site for investors.
1. Hub for Technology & Business
Kharadi is considered to be one of Pune’s top up-and-coming micro markets. Kharadi has been approved as a Special Economic Zone (SEZ), EON Free Zone, and EON Knowledge Park due to the development of new IT and commercial areas.
Zensar Technologies, Kharadi IT Park, World Trade Centre Magarpatta, Cerebrum IT Park, and Cybercity are a few of the most well-known IT hubs that have been located in Kharadi.
2. Cost Trend
The rapid increase in the value of real estate property in Pune is one of the main advantages of investing in Kharadi, much to the satisfaction of those that have already done so. A boon for both investors and homebuyers, Kharadi has had a 140% capital increase over the past ten years.
Residential property prices in this area are already approaching Rs. 6500/sq.ft, up from 2700/sq.ft in 2008 to 4500/sq.ft in 2014. It is simple to predict that rates will rise greatly in the upcoming years by observing the tendencies.
3. Hotspot for Housing & Rentals
Kharadi is a well-liked option for renters and homeowners due to its strategic position and outstanding connectivity. It is a high-end neighborhood with a price per square foot of approximately Rs 8,400.
Reputable builders like Kohinoor Group, VTP Realty, and Pristine Properties are responsible for the majority of residential developments in the area, which are ready-to-move housing societies. A 4 percent annual price increase has been seen in 2 BHK flats in Kharadi residential development projects.
4. Connections & Dependable Social Features
The business and residential districts of Koregaon Park, Viman Nagar, Wagholi, Magarpatta, Kalyani Nagar, and Hadapsar, are all easily accessible from Kharadi thanks to the area’s well-planned network of highways. Kharadi is also crossed by a bypass route that runs from the Pune-Solapur National Highway to the Pune-Ahmednagar State Highway.
The region also has numerous renowned schools, shopping malls, eateries, and hangout locations. The area guarantees a captivating experience for tourists and wildlife lovers.
Walking distance from Kharadi is the magnificent Mula-Mutha River. It’s the ideal place to unwind after a stressful day because of its picturesque splendor.
Upcoming Developments
It is projected that a number of planned projects will greatly accelerate Kharadi’s expansion in terms of infrastructure. For instance, a 43-acre IT park that will create roughly 2.4 million square feet of Class A office buildings in its first phase is being considered for Kharadi. It will be built by Goel Ganga Company and Hines, a major international real estate investment company.
Along with better connectivity, the Hadapsar to Kharadi metro corridor under Pune Metro Phase-II will also support real estate development. The authority wants to renovate highways at a cost of Rs 123 crore, which would also include improvements to road infrastructure.
Conclusion
Kharadi, a congested residential area along the Mula-Mutha River and mountainous pathways, combines beautiful flora with a vibrant, urban atmosphere. The presence of social amenities, and commercial and IT centers indicates a high quality of life and a great reason for investment in Kharadi Pune.
The real estate market is anticipated to continue to improve as a result of future infrastructural improvements and business and residential initiatives.
