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 saw 3.3 MSF of gross leasing volume (GLV) in Q2-25, a 13% y-o-y increase. Fresh office leasing reached an all-time high, comprising a 77% share. Engineering & Manufacturing led with 43% share, followed by IT-BPM and Professional Services at ~16%. share each. Net absorption reached a historic high at 2.2MSF. The quarter saw 4.8 MSF of Grade-A office supply, marking a significant 50% growth q-o-q while vacancy stood at 13.1%. Citywide stock-weighted average rentals grew 1.2% q-o-q.
Pune Retail Report
Pune recorded retail leasing volume of 0.23 MSF in Q2-25; a 38% q-o-q growth. Malls comprised a dominant ~90% share. The fashion segment led with 74% share, followed by accessories & lifestyle and wellness categories (~8% each). Domestic brands drove demand with an 83% share. Main streets comprised the remaining 10% of Q2 leasing, among which, the wellness sector comprised a 55% share. Superior grade malls maintained tight vacancies (5-6%). Main street rentals rose 1-3% q-o-q while mall rentals remained unchanged.
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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