Punawale is also in close proximity to Wakad and benefits from convenient access to various hospitals, schools and shopping malls.

Prior to its development, most of the inhabitants were poor peasants practicing agriculture and wood carving, deprived of basic public services.

From the late 1990s, the village grew to catch up with the vast industrialization and expansion of the nearby Pune city.

The introduction of IT Park near Hinjawadi sparked a tremendous real estate growth in the region favored by IT professionals.

Many schools affiliated to national education boards ICSE and CBSE have been established within the area limits.