Prasad Nagar is a primarily residential locality situated within Wadgaon Sheri, a well-developed and sought-after area in Pune. It's characterized by a mix of independent houses, apartments, and gated communities. Wadgaon Sheri, as a whole, has transformed significantly over the past decade, moving from a more suburban area to a thriving residential and commercial hub. Prasad Nagar benefits from this overall development.