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 13,756 residential launches in Q2 2026, marking the highest quarterly supply in the past three years and reflecting strong growth in the residential real estate market. The NH4 Bypass (North) submarket led with a ~41% share, followed by North-East and North Peripheral corridors contributing 28% and 13% share respectively, supported by proximity to key employment hubs and improving infrastructure. Mid-segment housing dominated with a ~41% share, while the launches in the high-end segment accounted for ~37% share. Capital values rose 5.4% q-o-q, while rentals continued to grow steadily, driven by demand across IT-driven residential corridors such as Hinjewadi, Kharadi and Nagar Road.

Pune recorded 1.6 MSF of warehouse leasing in H2 2025, supported by strong 3PL demand (65%) and activity across established hubs, led by Chakan (43%), followed by Ranjangaon and Wagholi. Annual warehouse take-up reached ~3 MSF, anchored by 3PL and Engineering & Manufacturing firms. Industrial leasing remained strong at 2.7 MSF, driven by robust E&M expansion across Chakan, Talegaon and Pirangut. Land values rose 32–35% YoY, reflecting sustained demand and infrastructure upgrades.

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.