By Raghu Iyer on Jan 19, 2024 10:46:28 PM
It is not just Hinjewadi that has prospered because of the emergence of the IT sector here. Before we proceed further, did you know that Hinjewadi IT hub employs over 2.5 Lakh IT professionals and is growing at a staggering rate of 14% per year?
What the flourishing IT business has also done is that it has been one of the most significant reasons for the growth of suburbs near Hinjewadi such as Wakad, Punawale, Ravet, Kiwale and Baner to name a few. But one location that truly stands out and has shown tremendous growth in the past few years is Punawale. So what makes new flats in Punawale so alluring for discerning homebuyers and investors? In this blog, we will take a look at a plethora of reasons that make a property in Punawale perfect to belong to. In addition, we will also be taking a look at a gem of a development in Punawale crafted by the renowned Kohinoor Group Pune. Read on.
Proximity to Hinjewadi IT hub
Punawale is just 10 minutes away from Hinjewadi IT Park, making it one of the most preferred destinations for skilled IT professionals who wish to cut down on their commuting time and wish to spend more time with their loved ones
Proven Track Record and Great Returns on Investment
Anyone looking for new flats in Punawale would be delighted by the fact that the location has already proven its worth as a fruitful investment destination. This micro-market near Hinjewadi has grown from a quiet suburb to being one of the most preferred residential destinations. As a result, the prices of a property in Punawale now range from Rs. 4800 to Rs. 6700 per sq. ft.
If you are looking for new flats in Punawale to put up on rent, the average rent here ranges from Rs. 13 to Rs. 20 per sq. ft. Here are a few more interesting facts- Around 49% of the properties here are in the range of Rs. 40-60 Lacs. While 98% of the properties in Punawale are multi-storey apartments, the most common configuration is 2 BHK, which calculates to a staggering 64% of the total properties here. And now, the answer to why smart investors are so keen on owning new flats in Punawale. Research shows that since October 21, the average rent has increased by around 13%, while the average sale price has appreciated by 5%.
New Flats in Punawale Offer You Excellent Connectivity
Punawale takes pride in its robust road network that offers quick connectivity to Pune’s prime destinations. Its proximity to Aundh-Ravet BRTS Road, Akurdi Railway Station, and more importantly Pune-Mumbai Highway plays a major role in offering hassle-free commutes to the residents of Punawale. The introduction of Pune Metro is all set to further enhance the seamless connectivity offered by Punawale. In addition, the location will also greatly benefit from the Ring Road, which will connect Hinjewadi, Wakad, Ravet and Punawale in the Pimpri-Chinchwad belt.
Proximity to Shopping Avenues and Multiplexes
New flats in Punawale ensure you enjoy the perfect work-life balance and celebrate every moment. Your weekends here will be more fun as the location enjoys proximity to an array of shopping avenues such as 18 Latitude Mall, Indramegh Shopping Centre, DMart, Elpro City Square Mall, and more. Punawale is also in proximity to Inox Akurdi, PVR Hinjewadi and more. So, rest assured that you will find an array of options near Punawale for recreation and entertainment.
A Bright Future for Your Children
Punawale is also in proximity to Wakad, which has earned the reputation of being an education hub. As a result, you get seamless access to an array of educational institutions. How this proximity benefits your children is that they won’t have to travel a long distance for quality education, which eventually results in mental satisfaction and maximum output.
Punawale takes pride in its plush neighbourhoods such as Hinjewadi, Aundh, Wakad and Baner. As a result of a number of skilled professionals and students migrating here from different parts of the country, Punawale offers you the benefit of living amidst a cosmopolitan crowd and experiencing a vibrant lifestyle.
(MahaRERA No.: P52100048589, P52100050739)
If you are looking for new flats in Punawale, you must take a look at Westview Reserve - a stunning development by Kohinoor Group Pune. Termed as Naturements, this development in New Wakad is already home to 950+ happy families. What stands out about Westview Reserve is its nature-centric amenities that seamlessly integrate nature into your lifestyle.