Pune MarketBeat Reports

Pune’s office market recorded strong momentum in Q4 25 with gross leasing volume (GLV) of 2.6 MSF, marking 35% q o q and 48% y o y growth. Annual GLV reached a historic high of 9.9 MSF, driven by exceptional GCC demand, which doubled to ~5.4 MSF and captured a dominant 55% share. Net absorption reached a record ~8.2 MSF in 2025. Annual supply of 13 MSF was recorded in Q4 while citywide rentals saw annual growth of 3.5%.

Pune recorded retail leasing volumes of ~0.18 MSF in Q4-25, maintaining healthy activity across. Malls dominated with 76% share (~135,585 SF), led by fashion (40%), department stores (18%) and entertainment (14%). Main streets contributed ~42,000 SF, driven by supermarkets (22%) and F&B (20%), with Balewadi, Gokhalenagar and Kharadi witnessing strong traction. Grade A mall vacancy remained tight at 6.34%, reflecting sustained demand for quality spaces despite minor relocations. Main street rentals surged 10–12% y-o-y, supported by robust demand for F&B and fashion, with prime locations like F.C. Road and J.M. Road posting double-digit growth. Mall rentals stayed stable q-o-q, underscoring strong fundamentals and positive outlook for Pune’s retail market.

Pune recorded 11,371 residential unit launches in Q1 2026, reflecting sustained market strength with an 8.2% y-o-y rise despite a minor 2.3% q-o-q adjustment. NH4 Bypass (North) led the dynamic market with a 33% share, followed by strong contributions from North Peripheral and Aundh-Baner at 11% each. The mid-segment continued to dominate new supply with a 46% share, alongside healthy activity in high-end and luxury (38%) and growing affordable housing primarily in North Peripheral corridor (10%). Weighted average capital values adjusted slightly by 0.6% q-o-q to INR 12,228 per sq. ft., creating strategic buyer opportunities. Meanwhile, rentals grew steadily by 1-2% q-o-q and 3-5% y-o-y, supported by robust IT/ITeS demand across 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.