Punawale property market: An overview

[ecis2016.org]

Punawale has proven to be a fast developing residential area of Maharashtra in the past few years. It is a suburb of Pimpri-Chinchwad of Maharashtra and lies next to Ravet. It is at a distance of two minutes from the Pune-Mumbai Expressway. Punawale was considered to be quite uninhabitable and underdeveloped back in the early 1990s. Back then, Punawale was a village that was inhabited by poor peasants, who practised agriculture and wood carving. Since the late 1990s, the region has witnessed an upsurge in development and habitation. Industrialisation has caught up and now, Punawale is a coveted residential area of Pune. Real estate growth has also been on an exponential increase in this area, owing to the emergence of IT parks near Hinjewadi.

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Punawale enjoys a strategic location, being near well-developed areas of Pune and is a preferred residential locality for IT professionals. The locality has the Pune University, Vibgyor High School and Mercedes-Benz International School. It is a serene locality, with minimum pollution.

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Connectivity with nearby Punawale localities

• It lies at a distance of two minutes from the Pune-Mumbai Expressway.
• It enjoys direct access to Mumbai-Pune-Bengaluru Highway.
• It also enjoys direct access to places via the Ravet Basket Bridge.
• It lies in close proximity to the developed areas of Ravet, Nigdi-Pradhikaran, Chinchwad and Ravet-Pradhikaran.
• Punawale Bus Stop makes it easier for the inhabitants of the locality to commute to other parts of the city.

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Schools in Punawale and other social amenities

Punawale provides its residents with all kinds of social amenities to live a happy and peaceful life. Various schools in Punawale include The Orchids International School, Cambridge International School, Alard Group of Institutes, Indus Champs School, Podar International School, Global Indian International School and many others. The major hospitals in Punawale include Bindu Nursing Home and Ashwini Hospital. Apart from these, it also provides luxury and recreational amenities and proximity to various banks and ATMs.

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Physical infrastructure in Punawale

• A garbage depot is being set up in Punawale by the Municipal Corporation.
• A buffer zone plan near the depot is being implemented too by the Municipal Corporation.

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Price trends in Punawale

• Price depreciation- Around 3.7% in the last one year.
• Current property rates- Rs 3,094 – Rs 5,981 per sq ft.

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Reasons to invest in Punawale

Although the price rates have been seen to be decreasing in the present scenario, the increasing demand of properties in Punawale will soon cause property rates to rise. So, investing in Punawale will prove to be quite lucrative. One can easily buy properties in and around Punawale at the present low rates and wait for the development to kick in. Also, Punawale is an ideal destination, if one is searching for a peaceful surrounding to enjoy life after retirement.

Check properties in Punawale

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle