Kharadi: Pune's Fastest-Growing IT Corridor
Kharadi sits on the eastern edge of Pune, built around the massive EON IT Park and World Trade Centre business districts. Kharadi, along with Hinjawadi, has become a major tech center in Pune with many big Indian and foreign tech companies opening offices in Kharadi's commercial buildings over the past ten years, and recently even manufacturing and financial companies have started setting up their global centers there. EON IT Park is a major IT SEZ in Kharadi with top global and Indian tech companies, with Phase 1 having five clusters and Phase 2 offering larger floor plates and upgraded infrastructure.
The locality has evolved from a quiet suburb into a self-sufficient residential and commercial hub. Kharadi enjoys good connectivity to key parts of the city, with nearby localities including Chandan Nagar, Keshav Nagar, Somnath Nagar, Sainath Nagar, and Dhanvantari Colony. The IT workforce boom sees EON IT Park and WTC hosting global firms like Barclays, Credit Suisse, and TCS, with over 11 million sq ft of office space driving endless demand for local housing.
Real estate momentum here has been consistently strong. Average property rates per square feet in Kharadi stood around Rs 10,700 per sq ft, with flat rates changing by 2.9% in the last 1 year, 36.3% in the last 3 years, and 49.7% in the last 5 years. Kharadi presents a dynamic real estate landscape with an average asking price of ₹14,199 per sq ft and a registration rate of ₹13,928 per sq ft. Sub-markets closer to the IT parks command a premium, while rental demand from the working population keeps yields healthy.
Recognising this momentum, Prestige Group has made a major commitment to Kharadi. Prestige Kharadi is a commercial real estate venture by Prestige Group strategically located in Kharadi, spanning over 4.5 acres with an investment of ₹200 crore, offering businesses excellent connectivity to major transportation routes, business hubs, and essential services. Prestige Group also plans to launch its first residential project in Pune, with a projected revenue potential of ₹750 crore to ₹1,000 crore indicating the significant market potential for residential real estate in the city.
