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Pune MarketBeat Reports

22/04/2022
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: Pune witnesses a significant growth of 71% in Q1 2022 over the previous quarter with new supply to the tune of 2.95 msf. Normative construction activities and rising office space demands have contributed to a positive supply outlook. The supply is expected to reach 4.69 msf by the end of 2022. Pune saw a vacancy rate of 10.7% this quarter, a jump of more than 200 basis points.

Residential: The quantum of new launches propelled Pune’s residential sector to 53% y-o-y and 30% q-o-q growth in Q1 2022. Most of the launches were by renowned developers like Kohinoor Group, Kalpataru Group and Kote Patil Developers. Mid-segment accounted for a majority with 53% of total unit launches, while affordable and high-end segments combined contributed almost 42%

Retail: Leasing activity in Pune gains momentum and leasing activity picks up in Q1 2022. Around 50,000 sf of leasing was seen across prominent malls that included categories such as F&B, fashion, and lifestyle. Mall vacancy at the city level stood at 7.7%, a decline of 115 bps on the q-o-q basis in this quarter. F&B and supermarkets accounted for the majority of leasing activity with a share of 57%.

Learn more by clicking our most recent Pune MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Pune Office Report

In Q1 2022 gross leasing activity of over 1.44 msf. was driven by captive and flex operators, with a y-o-y growth of 25%. The captive sector led the gross leasing with 44% followed by flexible workspaces with 34%.

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Shopping Retail
Pune Retail Report

In this quarter Pune’s retail mall inventory reached 6.6 msf and is expected to approximately 1.8 msf in a couple of years. At the city level rentals across malls and main streets are seeing a steady growth of 2-3% on a quarterly basis. Footfalls are witnessing phenomenal growth with higher customer confidence.

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Warehouse Internal Rack
Pune Residential Report

A revival in demand along with rising input costs pressure has resulted in an increase in capital values. The average property price saw an uptrend of 2-3% in this quarter compared to Q4 2021. As work from office resumes housing rents along the IT corridor witnessed a steady rise.

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Warehouse Internal Rack
India Investment Report

Besides the slow rate of growth at 5.4% y-o-y, the Indian economy remained the fastest-growing major economy globally in Q1 2022. This quarter also recorded a private equity investment of INR 57.9 bn., a decline of 38.4% q-o-q but with a promise of picking up pace in coming quarters.

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Warehouse Internal Rack
Pune Industrial Report

Pune recorded 3.79 MSF of warehouse and industrial transactions in H2 2021, a 40% y-o-y increase. Despite the second wave and subsequent lockdown, Pune continued to witness a healthy amount of warehousing and industrial leasing activity in H2.

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