Pune MarketBeat Reports
Suvishesh Valsan • 03/07/2025
Cushman & Wakefield Pune MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
CURRENT MARKETBEATS
Pune Office Report
Pune office market witnessed a high gross leasing volume (GLV) of 3.5 MSF in Q1-25, a 2X q-o-q increase. BFSI led with a 29% share, followed by flex operators (27% share). SBD East and PBD West submarkets dominated with ~45% and ~35% shares, respectively.Net absorption reached 2.07 MSF, the highest in last five quarters. GCCs space take-up of ~1.2 MSF, was nearly 20% of India’s overall GCC leasing in Q1. The city recorded historic high Grade-A office supply of 3.2 MSF. Vacancies increased to 11.23% while rentals increased by 0.5%.
Pune Retail Report
Pune recorded retail leasing volume of 0.17 MSF, 60% rise from Q4-24. Mall leasing accounted for ~66% share. Fashion segment led with 25% share, followed by entertainment (17%), and departmental stores (15%). Mall vacancy remained stable at 7.1% while superior grade malls witnessed tighter vacancies (5-6%). Main street leasing stood at 57,630 SF, led by the entertainment segment (56%) and followed by the wellness (9%) and footwear (4%) segments. Mainstreet rentals rose 6-7% q-o-q. Mall rents remained unchanged except superior grade malls, which witnessed an 8-9% increase q-o-q.
Pune Residential Report
Pune’s residential market saw 10,869 unit launches in Q2-25. The NH4 Bypass – North submarket remained most active, contributing ~65% to quarterly launches. High-end segment marked a historic high with 5,426 new units, comprising 50% of Q2 launches, followed by the mid-segment (41%) and luxury segment (9%). Pune’s weighted average capital value rose to an all-time high, up by ~8% q-o-q while rental values also saw a slight uptick.
Pune Industrial Report
Pune saw ~ 2 MSF of warehouse leasing, a 12% rise from H1 2024, driven by a surge in Engineering & Manufacturing sector, accounting for ~1 MSF of leasing. Chakan submarket performed highest with a dominant share of ~67%. Industrial leasing stood at 2.7 MSF. Engineering & Manufacturing dominated with an 80% share. Chakan was the largest contributor to the industrial and warehousing space, capturing ~63% share. City-wide industrial rentals grew 4-5%. Land prices in Chakan and Talegaon increased by 43% and 29% y-o-y.
India Capital Market Report
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.
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