Office: Pune witnesses a significant growth of 71% in Q1 2022 over the previous quarter with new supply to the tune of 2.95 msf. Normative construction activities and rising office space demands have contributed to a positive supply outlook. The supply is expected to reach 4.69 msf by the end of 2022. Pune saw a vacancy rate of 10.7% this quarter, a jump of more than 200 basis points.
Residential: The quantum of new launches propelled Pune’s residential sector to 53% y-o-y and 30% q-o-q growth in Q1 2022. Most of the launches were by renowned developers like Kohinoor Group, Kalpataru Group and Kote Patil Developers. Mid-segment accounted for a majority with 53% of total unit launches, while affordable and high-end segments combined contributed almost 42%
Retail: Leasing activity in Pune gains momentum and leasing activity picks up in Q1 2022. Around 50,000 sf of leasing was seen across prominent malls that included categories such as F&B, fashion, and lifestyle. Mall vacancy at the city level stood at 7.7%, a decline of 115 bps on the q-o-q basis in this quarter. F&B and supermarkets accounted for the majority of leasing activity with a share of 57%.
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