In 1985, Ecological Society had conducted a detailed ecological and socio-economic survey of the Panshet dam catchment region near Pune. In 2014, thanks to a grant from Global Forest Watch, a detailed ecological survey was repeated for the region. A dipstick study was also conducted across six villages to assess the current socio-economic aspects and man-nature relationship in the region. Data on population, households, occupations, income, land use, agricultural practices, cattle, vegetation, forest resources, schools and other amenities, and social bonds was collected. These findings were compared with the 1985 study to assess ongoing changes in the catchment. We found that the process of degradation of forests has continued. As a result, the worsening of human-nature relationship has also continued. Decline in agriculture, lack of profits in ancillary occupations, migration out of the catchment, and land acquisition by urban property owners and developers, complicate the region’s socioeconomic picture. Many of the 1985 study recommendations, if implemented with good governance, had the potential to nurture a sustainable, natural resource-centric economy in the region, however this did not happen. Going forward, a landscape ecological approach, managed by a quasi-government Catchment Authority, is suggested. The report makes recommendations for new implementation vehicles, such as a Model Eco-Sensitive Zone Initiative, a Landowner-Conservators’ Collective, an Incubator for Sustainable Local Economy, and a Reverse Migration Program.