Pune Commercial
Prestige Group Advances Kharadi Expansion with 4.57-Acre Commercial Acquisition
Prestige Exora Business Parks, a subsidiary of Bengaluru-based Prestige Estates, has secured a prime 4.57-acre land parcel in Kharadi for ₹200 crore, marking the group's entry into Pune's commercial real estate. The project is currently in pre-launch stage with pricing and detailed configurations to be announced by late 2026 or early 2027.
| Developer | Prestige Group / Prestige Exora Business Parks |
|---|---|
| Location | Kharadi, Pune, Maharashtra |
| Land Area | 4.57 acres |
| Acquisition Value | ₹200 crore (transaction finalized April 16, 2024) |
| Project Type | Commercial office and retail spaces |
| Expected Possession | By 2029 (Prestige Exora); 2030 (Prestige Kharadi alternative branding) |
| Pricing | On request; RERA number to be announced |
| RERA Status | Registration coming soon |
| Developer Track Record | Founded 1986; over 250 completed projects across residential, commercial, retail, and hospitality |
Project Overview
Prestige Exora Business Parks is a pre-launch commercial project, situated in Kharadi, Pune. The acquisition, completed by subsidiary Prestige Exora Business Parks in April 2024, represents the company's commitment to broadening its footprint across key Indian cities, leveraging Pune's rising prominence as a commercial and residential hub.
The development follows a strategic land acquisition through a joint development agreement (JDA) with B U Bhandari M&M Realtors, with full development rights transferred to Prestige Exora Business Parks in March 2024.
Product Type & Configurations
The project will offer premium office spaces and retail shops designed for companies, startups and brands looking for a prime business address. The development is designed to provide a modern, flexible workspace with advanced infrastructure, including high-speed elevators, state-of-the-art HVAC systems, and robust security measures, with customizable office layouts, ample parking, and eco-friendly design elements.
Modern facilities include high-speed elevators, 24/7 security systems, and ample parking spaces for employees and visitors, as well as landscaped green zones and a cafeteria. Specific unit configurations and carpet areas have not yet been disclosed in the pre-launch phase.
Pricing & Payment Terms
The price for Prestige Exora Business Parks units is available on request, with detailed pricing to be shared upon official launch. The project aims to provide workspaces with flexible unit sizes and attractive payment options. No price band has been publicly announced as of September 2026.
Possession Timeline
The expected possession date for Prestige Exora Business Parks is by 2029. Alternative branding under the Prestige Kharadi name indicates possession expected by 2030. These timelines remain provisional pending RERA registration and final approvals.
RERA & Regulatory Status
As of September 2026, the project remains in pre-launch phase. The RERA number is listed as 'Update Soon' on the developer's official portal. The RERA registration of Prestige Exora Business Parks is coming soon for buyers' safety. No occupancy certificate or construction commencement has been announced.
Kharadi: Commercial Hub & Market Demand
Kharadi, along with Hinjawadi, has become a major tech center in Pune, with many big Indian and foreign tech companies having opened offices in Kharadi's commercial buildings over the past ten years. Kharadi is Pune's fastest-growing commercial corridor, with EON IT Park and World Trade Center Pune making it a magnet for premium commercial space.
Rentals have grown steadily by 1-2% quarter-on-quarter and 3-5% year-on-year, supported by robust IT/ITeS demand across Hinjewadi, Kharadi, and Nagar Road. Commercial properties in Kharadi command higher rates; shops are priced at ₹34,748 per sq ft with an 8.11% rise, and office spaces average ₹20,339 per sq ft, up by 9.92%.
Pune now has 350+ Global Capability Centers (GCCs), with 80+ added in 2024–25 alone, creating unprecedented demand for large, Grade-A commercial real estate. The Kharadi market is projected to grow nearly 60% by 2027, with buyers paying 30-40% more and getting stronger resale value and rental yields in return.
Location & Connectivity
Kharadi has swiftly evolved into one of Pune's most sought-after locations for both commercial and residential developments, home to several IT parks, corporate offices, and upscale residential projects. The site is situated 8 km from Pune International Airport, close to prominent business hubs such as EON IT Park, World Trade Center, and Gera Commerzone, with excellent road connectivity to Koregaon Park, Viman Nagar, and Magarpatta City.
The area has seen a surge in demand due to its proximity to Pune's IT corridor, enhanced connectivity through the Pune-Mumbai Expressway, and the presence of high-end social infrastructure, including shopping malls, schools, and hospitals.
Developer Profile
Prestige Group, formally Prestige Estates Projects Ltd, is one of India's largest listed real-estate developers, founded in 1986 with its head office in Bengaluru. The company is listed on the NSE and BSE and has grown into a pan-India business spanning about 13 cities across roughly nine states. It builds across all four core segments: residential, commercial, retail and hospitality.
By its own company disclosures, Prestige has delivered and developed a portfolio of over 200 million sq ft across its segments.
Frequently asked questions
What is Prestige Commercial Pune?
Prestige Exora Business Parks is a pre-launch commercial project, situated in Kharadi, Pune, offering office and retail spaces on 4.57 acres acquired for ₹200 crore.
When will Prestige Commercial Pune be ready for possession?
The expected possession date for Prestige Exora Business Parks is by 2029, though this timeline is subject to regulatory approvals and may be updated.
What is the location advantage of Kharadi?
Kharadi is Pune's fastest-growing commercial corridor, with EON IT Park and World Trade Center Pune making it a magnet for premium commercial space, and the site is 8 km from Pune International Airport.
Is Prestige Commercial Pune RERA registered?
The RERA registration of Prestige Exora Business Parks is coming soon. The project is currently in pre-launch phase.
What is the price range for commercial units?
The price for Prestige Exora Business Parks units is available on request, with detailed pricing to be shared upon official launch.
Who developed this project?
The project is developed by Prestige Group, a reputed and trusted real estate developer that was founded in 1986 and has over 250 completed projects.
Why should businesses invest in this location?
Rentals have grown steadily by 1-2% quarter-on-quarter and 3-5% year-on-year, supported by robust IT/ITeS demand across Kharadi, and the market is projected to grow nearly 60% by 2027.