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 of ~0.18 MSF in Q1-2026, supported by strong growth on high streets, which contributed half of the total leasing. Demand was driven by department stores, fashion and F&B across key corridors. Mall leasing stood at ~0.09 MSF, declining q-o-q, amid limited Grade A availability. With no new supply, mall vacancy tightened to 5.11%. Rentals remained range-bound quarterly, while annual growth across high streets and malls reflected sustained demand for quality retail spaces.

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.