Kothrud is a suburb situated in the western part of Pune. It mainly encompasses the areas around the Paud and Karve roads. In the 1980s, it earned the distinction of being one of the fastest growing localities in Asia. Since then it has continued to grow and is now considered as an upscale locality.
Kothrud’s large concentration of students gives the locality a vibrancy and energy that is part of its culture, lifestyle, and economy. The area has a high density of residential complexes, and is home to a number of reputed schools and colleges. Many quality restaurants and eateries also line up the streets of Kothrud. City Pride Multiplex and a famous auditorium called Yeshwant Rao Natyagruha are also situated here.
Property in Kothrud is highly valued; naturally, the real estate prices are quite high. All the essentials of living- schools, banks, eateries, and hospitals are at a stone’s throw away from here. Its location is optimum in terms of ease of accessibility.
Key Projects in Kothrud :
Connectivity and Transit Points
Kothrud has two major thoroughfares that run through it. Paud Road leads to the Pune-Mumbai Highway and Karve Road runs from Deccan Gymkhana to Warje. Deccan Gymkhana, named after the sports club with the same name, is near the city centre and has a number of entertainment and food venues. Warje is a growing suburb in Pune that houses a manufacturing plant of Cummins India.
Pune Mahanagar Parivahan Mahamandal Limited (PMPML) operates the buses providing public transportation in this locality. There are three main bus depots in Kothrud, namely Kumbre Park, Kothrud Depot, and Kothrud Stand.
Taxis and auto-rickshaws are common here, and can be hired easily.
Pune Metro is expected to become operational in 2018. The main depot of ‘Line 2’ of the metro network will be located in Kothrud.
â— Dashabhuja temple
â— Mrityunjaya temple
â— City Pride Multiplex
â— Yeshwant Rao Natyagruha
Factors for Growth in the Past
Pune is called the ‘Oxford of the East’ because it is home to a large number of educational institutions such as MIT School of Management, International Institute of Fashion Design, Symbiosis Institute of Computer Studies and Research, and many others. It has high student diversity, and attracts students from all over the world. This constant inflow of students to the locality has kept the development ticking.
Kothrud’s climate has been a major factor influencing people’s choice of locality in Pune. The climate here is pleasant throughout the year, making it an attractive and preferred neighbourhood.
Kothrud also houses number of IT companies, such as Harbinger Systems, Harbinger Knowledge Products, Synise technologies, and Snehapadma Software Technologies Pvt. Ltd. It is also home to a manufacturing plant of Cummins India since 1964. The presence of these companies has fuelled growth in this locality.
Residential and Commercial Market
Residential Market Trends
Residential real estate prices in Kothrud have been steadily growing over the last few years. Apartments make up the majority of the residential real estate here, with independent houses coming in next at a significantly lower percentage.
The price per sq. ft. in the January-March quarter of 2013 was Rs 8,000. In the October-December quarter of 2013, the price was Rs 8,700 per sq. ft. In the January-March quarter of 2014, the price went up to Rs 8,900 per sq. ft and in the second quarter of 2014, the locality price further rose to Rs 9,150 per sq. ft.Seeing this steady growth, the property values of residential real estate in this locality is expected to rise even more.
Commercial Market Trends
There are relatively few commercial spaces, compared to residential spaces in Kothrud. The ones that are available for purchase can range anywhere from Rs 3,000-30,000 per sq. ft.
Rental prices, on the other hand, range from Rs 40-20,000 per sq. ft., depending upon the type of property and its location.
Monsoon brings with it a host of traffic woes, adding to those already prevalent. Road conditions deteriorate before the onslaught of the rainy season. Road infrastructure, in this aspect, needs to improve. Traffic is a hassle even without the monsoons; although the upcoming metro project is expected to solve this problem.
Factors for Growth in the Future
Pune Metro will be established in 2018, expanding Kothrud’s connectivity. This will add to the real estate value of the locality. In addition, employment opportunities are expected to grow as more companies set up shop here. The presence of high quality educational institutions in Pune will also bolster growth as students will continue to flock to the city.