Punawale – West Pune’s Hottest Real Estate Location

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. Pune’s burgeoning western corridor is today the most preferred destination for home buyers and real estate investors not only from Pune, but also from Mumbai and various other parts of Maharashtra.

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Because of the rapidly increasing demand for residential and commercial properties, West Pune has in the past delivered some of the most attractive real estate locations. One of the most exciting new locations in this corridor is Punawale.

To a large extent, Punawale owes its fast rise to fame to the fact that it is located very close to the thriving Information Technology parks in Hinjewadi and Tathawade, as well as to the Pune-Mumbai Expressway. At the same time, Punawale offers quick access to Wakad and has a number of good schools, hospitals and shopping malls close at hand. With the arrival of superlative residential projects by reputed developers at Punawale, this area is now the location of choice for IT/ITeS professionals working in Hinjewadi and Tathawade, as well as from buyers from the MIDC manufacturing hub who are attracted by the better lifestyle options now available there.

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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 in PCMC, Punawale has the added advantage of being located at the fulcrum of various major road development projects,” says Anil Pharande, CMD – Pharande Spaces. “In fact, Punawale is now seeing the fastest development after Aundh, Baner and Wakad have become almost fully exploited and come close to complete saturation. Moreover, the development of this region is firmly supported by the unlimited cash reserves of the PCMC, which is 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 driven by its prolific manufacturing sector, which is 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.

These inherent advantages have ensured that areas like Punawale see instant absorption of housing projects across budget brackets. Employment-driven real estate locations like Punawale also receive the maximum attention from property investors.

“Employment generation is by far the most important catalyst driving real estate demand and supply in Pune,” says Sanjay Bajaj, Managing Director – Pune, JLL India. “Home buyers in a city with such a vibrant economy will at all times seek to find options as close as possible to their places of work. This helps them rationalize their daily commutes and thereby gain more time with the family, cut down on their monthly fuel expenses and also preserve their health and mental wellbeing. In a rapidly growing market like PCMC, proximity to workplace is therefore a very critical criterion that home buyers focus on. In this respect, Punawale has become one of the most desirable locations in PCMC.”

While the initial demand profile in this region was first geared towards mid-income housing, it now draws demand for luxury homes as well. The Punawale micro-market is especially suited for large integrated township projects, which offer one-stop solutions in terms of self-sufficient infrastructure, superior amenities and quick access to schools, healthcare, shopping and public transport.

In Punawale, Western Pune has received yet its most iconic real estate destination to date – a location that is eminently placed to take this prosperous, infrastructure-driven region’s real estate story to the next level.

Integrated Townships – Giving The Village Back To Urban India

Anil Pharande

Anil Pharande, CMD – Pharande Spaces

While the concept of integrated township living is still something of a novelty in India, the concept of living in integrated residential communities is definitely not. If we look at how configurations like villages work, then it emerges that Indians have been living in integrated residential communities for a very long time indeed. Of course, integrated townships are a far more specialized and sophisticated real estate model – and one which is becoming a very important one for various reasons.

For all those who have been living in cities like Pune and Mumbai, the fact that urban life can and does become rather disconnected is not news. Since most developers will build residential projects on whatever small land parcels are available, neighbourhoods are created in a very unplanned and uninspiring manner and their residents wind up living in small, isolated pockets which are often quite far from day-to-day conveniences and essentials such as shopping centres, schools and hospitals.

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At the same time, people are thrown together on the basis of their household budgets, which is basically what decides what kinds of homes they can buy. Those who opt for staying on rent are often transient families which do not add to the neighbourhood. Creating a sense of neighbourhood and community under such circumstances is very challenging – and because people also have the stresses of their daily work life to tackle, they tend ignore what neighbours they have altogether.

The unfortunate fact that emerges is that people can buy homes, but not a sense of community. Integrated townships, on the other hand, bring the best elements of a village back to urban dwellers. They are distinct and cohesive neighbourhoods within people can reside with a comforting sense of certainty and predictability. People who buy homes in integrated townships are not merely investing in an orphaned, anonymous set of walls somewhere in the city – which is basically all that one can expect from most residential projects in India today.

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Township residents become members of a self-sufficient residential microcosm which operates on proven fundamentals of social integration and living convenience. They enjoy all the benefits of a comfortable and secure lifestyle with the additional benefit of social ‘connectivity’ that derives from like-minded people who are willing to invest that extra bit for their families living in harmoniously balanced neighbourhoods.

The fact that schools, shopping, healthcare and public transport are readily available and accessible goes a long way in reducing stress and increasing the willingness and scope for healthy social interaction. Likewise, not having to contend with water supply issues and power outages makes for more relaxed and happier neighbourhoods.

And since integrated townships also offer parks, gardens and other places for people to meet and interact in, the stage is set for a way of life which most city dwellers in India have bid goodbye to long ago. In a very definite way, integrated townships have brought the village back in the best possible way – by allowing people to enjoy the benefits of community living against a zero-stress backdrop.

About The Author:

Anil Pharande is Chairman of Pharande Spaces, a leading construction and development firm that develops township properties in Western Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer in the PCMC area offering a diverse range of real estate products catering especially to the 42 sectors of Pradhikaran. The luxury township Puneville at Punavale in West Pune is among the company’s latest premium offerings.