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Punawale: A Real Estate Hotspot in West Pune

by John

The real estate market in Punawale is booming, and it’s easy to see why. The area is reasonably priced and well connected to PCMC & Pune City. With over 2.5 lakh software professionals employed in the area and an annual expansion rate of 14%, it’s no surprise that Punawale is becoming a prime location for investment.

Punawale’s journey of becoming a bustling real estate hotspot began slowly. Still, it rapidly gained significance when renowned developers started building properties in Punawale. Projects in Punawale are being upgraded with superior services and infrastructure to meet the demand for modern homes.

Proximity to Employment Hubs

Punawale is expanding rapidly due to its proximity to Hinjewadi. Apart from location advantage, it also offers a cost advantage. It is known for being an affordable option for housing, which is appealing to those working in the manufacturing industry. This area is a more reasonable option compared to Wakad, where the price for buying property is pretty high.

Great Locality

Punawale’s popularity has surged in recent years, thanks to the introduction of several new residential projects. Many first-time homeowners are drawn to the area because of its proximity to Hinjewadi and the MIDC manufacturing belt. Residential projects in Punawale combine the best of both worlds: a beautiful location and proximity to PCMC and Pune city.

The growth of Punawale’s projects is partly due to the watchful monitoring of PCMC and the (PCNTDA), as well as sufficient infrastructure to sustain the residential areas.

Robust Infrastructure

Punawale has excellent access to essential regions, another element driving the ongoing high demand for homes in this area. But in the next few years, the neighbourhood will become even more appealing due to the planned development of nearby areas. Balewadi Baner and Phata, among other places, would be easily accessible thanks to the current Shivajinagar-Maan metro project from Shivajinagar to Hinjewadi.

Punawale is set to benefit from the infrastructure developing around the area. The construction of the Pune Ring Road is an example of it. The road will connect Punawale, Hinjewadi, Ravet & Wakad in the Pimpri-Chinchwad region. As the road and metro line near completion, the demand for well-connected neighbourhoods will grow, causing prices in Punawale to rise.

A Plethora of Property Options

Numerous real estate projects have been developed in Punawale over the past six to seven years. According to data from a real estate expert, more than 8,400 homes were built in this area between 2013 and 2020. The remaining 15% of this supply will be completed in 12 months, leaving about 58% of it ready for occupancy.

If you are looking for new residential projects in Pune or want to buy flats in Pimpri Chinchwad, Pharande Spaces is there to help you.

With more than 25 years of experience, Pharande Spaces has built over 3000 residences and developed over 10 million sqft. spaces. Your search for a new home in Punawale ends at Pharande Spaces.

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