Kharadi: Upcoming residential destination in East Pune
Kharadi, located about 13 km from the heart of Pune along the eastern periphery, is making rapid strides in developing into a residential hub. Besides being in the proximity of IT hubs, there are many other factors that have resulted in the rise in demand for residential property in recent times. They include the connectivity, infrastructure as well as the affordability.
Connectivity
Kharadi offers excellent connectivity to all areas in the vicinity as well as across the city. The Mundhwa-Kharadi road connects it to the Mumbai highway which is just about 7 km away. It also connects Kharadi to the Pune Nagar road which runs along its northern periphery. Besides, it is well connected to all areas in the vicinity like Kalyani Nagar, Viman Nagar, Chandan Nagar, Yerawada etc through the Pune Nagar road. The Pune railway station is about 11 km away along the Samrat Ashok road while the Pune International airport is about 7 km away along the Pune Nagar road.
Infrastructure
Kharadi also has some important infrastructure facilities that has also increased its appeal as a residential destination. There are some reputed educational institution in the area like Dhole Patil College of Engineering, Saraswati Institute of Hotel Management, Sundrbai Marathi School, Nirmala convent etc. Some of the hospitals in the area are Rakshak hospital, Ashwini hospital, Shri Samarth hospital etc. There are also many important religious institutions in the area like Sarwananad Math Kashi Viswanath Mandir, Shree Siddhinath Mandir, Saibaba Mandir etc. Besides, there are many renowned hotels like Radisson Blu, Hyatt, Premier In, Novotel etc. as well as malls/shopping centers like Phoenix Market City and Reliance Mart.
Proximity to IT hubs
The proximity of Kharadi to IT hubs like Kalyani Nagar, Viman Nagar and Koregaon Park is what has enhanced the appeal of the area as a residential destination considerably. Besides, there are many other industrial areas like Wagholi, Ranjangaon, Hadapsar, Sanaswadi etc in the vicinity. It is also renowned for housing the prestigious EON Free Zone, where the EON Knowledge Park is located. Some of the corporate giants which have facilities here are Tata Communications, Reliance, Wipro and Polaris. Besides, there are many other renowned companies here like Eaton Technologies, Allscripts, Mphasis, Zensar Technologies etc.
Prices and developers
The current average price for residential apartments in Kharadi is Rs.5,780 per sq. ft., with a steady appreciation of about 20% compared to Q4 2012. The current average rentals in the area is about Rs.15 per sq. ft. Some of the prestigious completed apartment projects in Kharadi are Nyati Empire by Nyati Builders, Green Groves by Kolte Patil Developers, Parmar Square by Parmar Constructions, Gera Emrald City by Gera Development, Kharadi Residency by Malkani Group etc.
Future Prospects
Kharadi has immense potential to develop into a favoured residential destination. Due to its proximity to the IT hubs, besides housing many prominent IT companies, it is a preferred residential area especially among IT professionals working in the vicinity. Besides, there are many infrastructure projects that are progressing smoothly which when complete will give a fillip to the residential realty market. Road infrastructure in the area is being developed which when complete will improve the connectivity to Magarpattha City. The proposed Lohegaon-Kharadi-Wagholi road when complete, will provide a major boost to the status of the area. Considering the demand for residential property here it will attract more developers to embark on residential projects, thereby enhancing the acclaim of the area.
