Punawale, which is strategically located off the Pune-Mumbai Expressway, has become a booming real estate hotspot in West Pune. The area is liked by both tenants and homebuyers, making it a prime location for investments. It benefits from being reasonably priced and conveniently connected to important areas of PCMC and Pune City, such as the infotech hub of Hinjewadi. It employs over 2.5 lakh software professionals and is expanding at a rate of over 14% annually, among other well-known areas like Baner, Balewadi, Wakad, Ravet & more.
Punawale, like many other neighborhoods in Pune’s bustling PCMC area, started off modestly but rapidly became a significant real estate hotspot when renowned developers began to do home construction here. But the introduction of the opulent integrated community marked the actual turning point for this area. This township served as an important economic accelerator, and soon Punawale was completely furnished with the best services and infrastructure, including shops, schools, and medical facilities.
Punawale’s closeness to Hinjewadi is a key driver in real estate expansion. Punawale is known as a premier area for inexpensive housing due to the demand of workers in the manufacturing industry. In comparison to its nearby neighbourhood of Wakad, where the average price of a square foot of property is now approximately Rs. 6,600, it is a far more reasonable option.
The introduction of several residential buildings in Punawale over the past few years has drawn many first-time homeowners who work in Hinjewadi and the MIDC manufacturing belt. The area, which combines natural beauty with urban growth, is ideal for people who wish to live close to nature while making use of all city amenities.
The growth of Punawale’s projects continues under the watchful monitoring of PCMC and the Pimpri-Chinchwad New Town Development Authority (PCNTDA), with sufficient infrastructure to sustain the residential areas.
Punawale already has strong access to important regions, which is another factor contributing to the continued high demand for houses in this area. But in the coming years, the neighborhood will become even more desirable thanks to the planned infrastructural developments in and surrounding the area. Balewadi Phata and Baner, among other places, would have easy access thanks to the current Shivajinagar-Maan metro project from Hinjewadi to Shivajinagar.
Punawale will also benefit from the ongoing construction of the Pune Ring Road, which is going to be a game-changer. The Ring Road will run through Ravet, Hinjewadi, Punawale, and Wakad in the Pimpri-Chinchwad region. The prices of properties in Punawale will start to rise as the Ring Road and metro line is near completion due to the growing demand for such a well-connected neighborhood.
Over the past six to seven years, a number of new residential projects in Punawale have begun. In this area, between 2013 and 2020, more than 8,400 residences were introduced, according to statistics from a real estate consultant. Nearly 58 percent of this supply is already available for occupants, and the remaining 15 percent will be finished during the upcoming 12 months.
This makes Punawale a great destination for them because the majority of homebuyers nowadays prefer ready-to-move-in properties.
Talking about property options, Pharande Spaces as one of the most renowned real estate developers in Pune offers the best options for you to invest in Punawale. With more than 25+ years of legacy, Pharande spaces have delivered 3000+ homes & developed more than 10 million sq. Ft. If you are thinking about investing in PCMC or Pune then investing in one of the projects from Pharande Spaces would be a smart decision.