Anil Pharande, CMD – Pharande Spaces
While real estate is a constantly changing and evolving concept, some parameters remain constant – the three success mantras are still Location, Location and Location. In this respect, Western Pune is an important new chapter in the annals of Pune real estate’s success story. One of the most exciting new locations in this corridor is Punawale.
Thanks to massive demand for residential and commercial properties, Western Pune has delivered some of Pune’s hottest real estate locations over the past decade. Punawale is the latest addition to the region’s lineup of strategic real estate development and investment hotspots.
Located advantageously close to Hinjewadi and its burgeoning IT Park and the Pune-Mumbai Expressway, Punawale has now emerged as the location of choice for home buyers from the Information Technology as well as manufacturing segments. Punawale is also in close proximity to Wakad and benefits from convenient access to various hospitals, schools and shopping malls.
This combination of factors has had a big impact on demand for properties in Punawale, and has led to the launch of many new residential projects. Puneville, a luxury township recently launched by leading developers Pharande Spaces, is one of the most notable examples of Punawale’s massive image makeover on the Pune real estate map.
Like Moshi, Ravet, Spine Road, Wakad and many other highly successful real estate locations, Punawale has the added advantage of being located at the fulcrum of various mega road development projects by this region’s infrastructure-focused town planning authorities. Backed by the unlimited cash reserves at the disposal of Asia’s wealthiest Municipal Corporation.
Backed by a diverse and vibrant economy which provides a convincing complement to that of Pune, real estate growth in Western Pune is backed by a prolific manufacturing sector represented by a number of national and global industry giants. This region is seeing a steady and growing pipeline of employment opportunities generated by its manufacturing and Information Technology industries.
This factor has ensured that areas like Punawale see instant absorption of housing projects across budget brackets. It goes without saying that an employment-driven real estate location like Punawale also receives significant attention from property investors.
In Punawale, Western Pune has received yet another iconic location to take this prosperous, infrastructure-driven region’s real estate story to the next level.