By: Anil Pharande, Chairman – Pharande Spaces
Track2Realty: 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, the Pimpri-Chinchwad Municipal Corporation (or PCMC) is an important chapter in the annals of Pune real estate’s success story.
Pimpri-Chinchwad, an Urban Agglomeration (UA) of Pune, is situated only 1.5 hours from Navi Mumbai. It is by far the richest Municipal Corporation – not only in India, but in Asia, largely thanks to its thriving industrial belt of mid-sized and large national and multinational companies.
Thanks to massive demand for residential and commercial properties, PCMC has delivered some of Pune’s hottest real estate locations over the past decade. Punawale, situated in PCMC along the rapidly developing Western corridor of Pune, 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 PCMC’s 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 and many other highly successful real estate locations in the PCMC, 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, these projects are being implemented at a rapid rate and have been instrumental in the highly positive credit ratings accorded to the PCMC by various reputed agencies.
Additionally, the high-tech PCMC Water Treatment Plant was recently awarded the coveted ISO – 9001- 2000 rating in the Water Treatment Quality category, further enhancing the region’s viability as a location and residential destination par excellence.
Backed by a diverse and vibrant economy which provides a convincing complement to that of Pune, PCMC boasts of a prolific manufacturing sector represented by a number of national and global industry giants.
The steady and growing pipeline of employment opportunities generated by PCMC’s manufacturing and Information Technology industries 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, the Pimpri-Chinchwad Municipal Corporation has created yet another iconic location to take this prosperous, infrastructure-driven region’s globally acknowledged reputation for planned urbanization and real estate development to the next level.
