Kharadi Real Estate
Two years ago, Punekars describing Kharadi as a place with development potential were dismissed as hopeless optimists.
Rental Flats in Kharadi Pune
Today, they are being hailed as visionaries. During this period, Kharadi has been increasingly luring top IT companies due to its low pricing and proximity to prime locations like Kalyani Nagar and Viman Nagar. These factors have, in turn, triggered off a demand for quality residential space as well, from IT sector professionals working in these companies. Meanwhile, a proposal for private participation in infrastructure development, which is currently at the discussion stage, has only added to Kharadi's appeal as an IT destination. Resale Flats in Kharadi Pune
R Vasudevan, MD, Vascon Engineers Pvt. Ltd., explains, "Developers will be undertaking the work of constructing roads in Kharadi as per specifications given by the Pune Municipal Corporation (PMC). There won't be any digging of existing roads but new roads will be constructed in Kharadi. The expenditure will also be decided by the PMC. In return of the work done, PMC will either be giving the developers, transfer of development rights (TDR) or a reduction in property tax as per the legal provision."
One plus point is that most of the new developments are townships by reputed developers. As a result, the area has emerged as an ideal investment proposition too.
Certain premium projects in the area currently command a rate of Rs 5,500 per sq. ft., which is a considerable appreciation over the Rs 600 per sq. ft. quoted a couple of years ago. Even the builders setting up large township projects in this once sleepy village are amazed at the speed with which its perception has changed.
Hiren Parmar, director, Parmar Construction Company, emphasises that the growth in Kharadi, especially over the past Few months, has been phenomenal.
"With the MIDC Knowledge Park, World Trade Center in Kharadi , IT sector and software companies making a beeline for the place, land prices have just shot up. The way people assess the place is so different now; once it was considered a last resort, sought out by people who could not afford any other place, but just look at it now! It still has a long way to go - water supply is one issue that needs to be looked into, for instance - but I am extremely bullish on Kharadi. If the development continues at this pace, residential property prices could even touch Rs. 7,000 per sq. ft. a couple of years from now," he predicts.
In the current scenario, Property in Kharadi Kharadi is considered an ideal locality for a software park or for residential purposes.
Towards the North the 200 ft. wide Nagar Road leads to Koregaon Park, five-star hotels, hospitals and the airport. On the South side, a few minutes drive down the Solapur-Pune highway gets you to the Race Course and the shopping complexes, theatres, restaurants and designer boutiques of MG Road.
Two years ago, Punekars describing Kharadi as a place with development potential were dismissed as hopeless optimists.
Rental Flats in Kharadi Pune
Today, they are being hailed as visionaries. During this period, Kharadi has been increasingly luring top IT companies due to its low pricing and proximity to prime locations like Kalyani Nagar and Viman Nagar. These factors have, in turn, triggered off a demand for quality residential space as well, from IT sector professionals working in these companies. Meanwhile, a proposal for private participation in infrastructure development, which is currently at the discussion stage, has only added to Kharadi's appeal as an IT destination. Resale Flats in Kharadi Pune
R Vasudevan, MD, Vascon Engineers Pvt. Ltd., explains, "Developers will be undertaking the work of constructing roads in Kharadi as per specifications given by the Pune Municipal Corporation (PMC). There won't be any digging of existing roads but new roads will be constructed in Kharadi. The expenditure will also be decided by the PMC. In return of the work done, PMC will either be giving the developers, transfer of development rights (TDR) or a reduction in property tax as per the legal provision."
One plus point is that most of the new developments are townships by reputed developers. As a result, the area has emerged as an ideal investment proposition too.
Certain premium projects in the area currently command a rate of Rs 5,500 per sq. ft., which is a considerable appreciation over the Rs 600 per sq. ft. quoted a couple of years ago. Even the builders setting up large township projects in this once sleepy village are amazed at the speed with which its perception has changed.
Hiren Parmar, director, Parmar Construction Company, emphasises that the growth in Kharadi, especially over the past Few months, has been phenomenal.
"With the MIDC Knowledge Park, World Trade Center in Kharadi , IT sector and software companies making a beeline for the place, land prices have just shot up. The way people assess the place is so different now; once it was considered a last resort, sought out by people who could not afford any other place, but just look at it now! It still has a long way to go - water supply is one issue that needs to be looked into, for instance - but I am extremely bullish on Kharadi. If the development continues at this pace, residential property prices could even touch Rs. 7,000 per sq. ft. a couple of years from now," he predicts.
In the current scenario, Property in Kharadi Kharadi is considered an ideal locality for a software park or for residential purposes.
Towards the North the 200 ft. wide Nagar Road leads to Koregaon Park, five-star hotels, hospitals and the airport. On the South side, a few minutes drive down the Solapur-Pune highway gets you to the Race Course and the shopping complexes, theatres, restaurants and designer boutiques of MG Road.
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