Kharadi, which has an increasing population of young professionals working in the service (retail and hospitality), IT and manufacturing sectors is expected to see a great demand for mid-segment housing – an opportunity for long-term investors to capitalise on.
Big Commerce Zone
Kharadi is home to some of the biggest IT parks in Pune. The IT companies located on Nagar Road are in proximity, too. Living close to your workplace, and the presence of offices and commercial spaces in the neighbourhood makes Kharadi a perfect investment and home buying choice for home seekers.
Developed Social Infrastructure
Since Kharadi falls within the limits of the Pune Municipal Corporation, it has been on the civic body’s development radar for the last few years. The area boasts of swanky new roads and civic infrastructure. The presence of large IT Park has led to medical and hospitality development in the region, which in turn, has triggered the demand for residential properties. What followed is a domino effect – residents demanding retail outlets, educational institutions, entertainment, and even medical centers, contributing to Kharadi’s improved livability index.
Kharadi is well connected to other parts of the city through major roads including Kharadi Road, Kharadi South Main Road, and Magarpatta Road. There is also an availability of a robust public transportation system. The state highway MH SH 27 is linked to the locality, which further boosts the connectivity.
There is an availability of a variety of residential options including affordable as well as luxury apartments. With a surge in demand for housing in Kharadi, it is going to be the next big destination in Pune.
Considering the growing demographics of young working professionals, Kharadi has seen the development of many entertainment hubs and malls in the vicinity, including Aqua Lounge, Blue Frog, and SGS Mall, Town Centre, Phoenix Market City, and Seasons Mall. The area has many hospitals with Columbia Asia Hospital being the largest. Reputed hospitality brands like Taj Blue Diamond, Le Meridian, JW Marriot, Grand Hyatt, The Westin, and Radisson are catering to the region.
Since Kharadi is near the EON IT Park, most of the workforce prefers to live nearby. However, due to the transitory nature of IT jobs, many people prefer to rent homes in the locality. Hence, if you are looking at purchasing property as an investment, it makes sense to invest in Kharadi, as you are bound to get a passive income.
Being moderately hilly and nestled on a riverbank, Kharadi offers picturesque views of the serene surroundings. There is also plenty of greenery across the locality.
In the Future
In a price-sensitive and end-user focused market like Pune, price appreciation is dependent on the presence of IT Parks in the vicinity. Since Kharadi offers the same, it is no surprise that it will continue to offer lucrative property appreciation in the years ahead. With improving physical and social infrastructure, property rates in the area are expected to grow by up to 12 percent on a yearly basis.
As expected by industry experts, the area will gain the status of a self-sufficient locality, with the development of infrastructure and better connectivity with the Metro and BRTS.
For investment options in Kharadi, have a look at Majestique Towers – a Residential Project of 2 & 3 BHK Apartments, Near Eon IT Park, Kharadi, Pune.