Pune MarketBeat Reports

Pune’s office market recorded strong leasing momentum in Q2 2026, with gross leasing volume reaching 3.22 MSF and taking H1 2026 leasing to 5.31 MSF. Flexible workspace operators led demand, followed by IT-BPM and BFSI firms, while GCCs remained a major growth driver, contributing over half of quarterly leasing. SBD East and PBD West continued to dominate office activity, reinforcing their position as Pune’s preferred Grade A office hubs. Strong net absorption highlighted healthy occupier demand. New Grade A supply of 3 MSF was seen in Q2, while vacancy remained broadly stable. Office rentals continued to rise, supported by sustained demand for quality office spaces.

Pune recorded retail leasing of 0.25 MSF in Q2 2026, up 38.4% q-o-q and 8.0% y-o-y, driven by robust demand across malls and main streets. Mall leasing surged to 0.16 MSF, led by fashion and accessories & lifestyle brands, while main streets contributed 0.09 MSF with steady activity across key corridors such as Wakad and Bavdhan. With no new supply, Grade A mall vacancy tightened to 3.1%, highlighting strong occupier preference for quality assets.

Pune recorded 13,819 residential launches in Q3 2026, reaching a new high in the past three years, reflecting growth in the residential activity. NH4 Bypass (North) remained the most active residential corridor, led by Hinjewadi, Balewadi and Tathawade. Mid-segment housing dominated new supply, supported by strong demand from homebuyers across employment-linked locations. While capital values moderated slightly on a quarterly basis, it recorded a notable appreciation on a yearly basis.

Pune’s warehousing and industrial market recorded strong momentum in H1 2026, with warehouse leasing reaching 1.7 MSF, driven by robust demand from 3PL providers and engineering & manufacturing occupiers. Chakan and Ranjangaon remained the leading warehousing hubs. Industrial leasing surged to 4.2 MSF, led by engineering, manufacturing and automobile companies across established industrial corridors.

Cushman & Wakefield India Capital MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.