{"id":20426,"date":"2025-04-06T23:35:46","date_gmt":"2025-04-06T18:05:46","guid":{"rendered":"https:\/\/timesofpowerandvoice.com\/?p=20426"},"modified":"2025-04-06T23:36:09","modified_gmt":"2025-04-06T18:06:09","slug":"pune-hits-record-office-transactions-leads-q1-2025-residential-growth-with-20-yoy-surge-knight-frank-india","status":"publish","type":"post","link":"https:\/\/timesofpowerandvoice.com\/?p=20426","title":{"rendered":"Pune hits record office transactions; Leads Q1 2025 residential growth with 20% YoY surge: Knight Frank India"},"content":{"rendered":"\n

Pune<\/strong>: Knight Frank India\u00a0<\/strong>in its latest report,\u00a0India Real Estate: Office and Residential Market (January – March 2025) Q1 2025<\/em><\/strong>\u00a0<\/strong>highlights Pune\u2019s office market achieving record growth in Q1 2025. Leasing activity reached 3.7 million square feet (mn sq ft), reflecting a 91% year-on-year (YoY) increase and the highest-ever quarterly transactions. New completions totalled 3.5 mn sq ft, the highest among eight cities[1]<\/a>, up from 1.8 mn sq ft in Q1 2024. Office rentals also grew by 3% YoY, with the average transacted rent at INR 77 per sq ft per month.<\/p>\n\n\n\n

Pune Office Market Summary (Q1 2025)<\/strong><\/p>\n\n\n\n

 <\/strong><\/strong><\/td>Office Transactions<\/strong><\/td>Completions<\/strong><\/td><\/tr>
(Mn Sq Ft)<\/strong><\/td>(Mn Sq Ft)<\/strong><\/td><\/tr>
City<\/strong><\/td>Q1 2025<\/strong><\/td>Q1 2024<\/strong><\/td>% Change YoY<\/strong><\/td>City<\/strong><\/td>Q1 2025<\/strong><\/td>Q1 2024<\/strong><\/td>% Change YoY<\/strong><\/td><\/tr>
Pune<\/strong><\/td>3.7<\/td>1.9<\/td>91%<\/td>Pune<\/strong><\/td>3.5<\/td>1.8<\/td>99%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source:Knight Frank Research<\/em><\/p>\n\n\n\n

End-User Categories<\/strong><\/p>\n\n\n\n

Pune’s commercial real estate witnessed strong leasing activity in Q1 2025, with flexible office spaces leading the demand. The segment accounted for 43% of total transactions, covering 1.6 mn sq ft- reflecting a 40% YoY surge from 1.15 mn sq ft in Q1 2024. Global Capability Centres (GCCs) followed, transacting 1.1 mn sq ft, a remarkable 266% jump from the 0.3 mn sq ft recorded last year.<\/p>\n\n\n\n

End-User Licensee\/Buyer<\/strong><\/td>Flex<\/strong><\/td>GCC<\/strong><\/td>India Facing Business<\/strong><\/td>Third Party IT<\/strong><\/td>Total<\/strong><\/td><\/tr>
Area transacted in mn sq ft<\/strong><\/td>1.6<\/td>1.1<\/td>0.6<\/td>0.4<\/td>3.7<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source:Knight Frank Research<\/em><\/p>\n\n\n\n

Residential Market Update: January \u2013 March 2025<\/strong><\/p>\n\n\n\n

Pune’s residential market continued its growth trajectory, recording 14,231 units sales in Q1 2025\u2014a 20% YoY increase from 11,832 units in Q1 2024. New launches also saw a significant uptick, rising 22% YoY to 16,231 units. Additionally, the city\u2019s weighted average residential price reached an all-time high of INR 4,825 per sq ft, marking a 6% YoY increase.<\/p>\n\n\n\n

 <\/strong><\/td>Sales<\/strong><\/td> <\/strong><\/td>Launches<\/strong><\/td><\/tr>
City<\/strong><\/td>Q1 2025<\/strong><\/td>Q1 2024<\/strong><\/td>YoY % Change<\/strong><\/td>City<\/strong><\/td>Q1 2025<\/strong><\/td>Q1 2024<\/strong><\/td>YoY % Change<\/strong><\/td><\/tr>
Pune<\/strong><\/td>14,231<\/td>11,832<\/td>20%<\/td>Pune<\/strong><\/td>16,231<\/td>13,293<\/td>22%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source:Knight Frank Research<\/em><\/p>\n\n\n\n

The city\u2019s premium housing segment saw the most notable growth, with sales in the INR 100-200 mn (INR 10-20 cr) bracket surging by 180% from 2 units in Q1 2024 to 7 units. Homes priced between INR 20-50 mn (INR 2-5 cr) recorded the second-highest growth, increasing by 78% YoY from 376 units to 670 units. Meanwhile, the mid-range segment (INR 5-10 mn) remained the most active, contributing to 47% of total residential sales with 6,690 units sold during the quarter.<\/p>\n\n\n\n

Ticket-Size Split of Sales<\/strong><\/p>\n\n\n\n

Ticket Size Categories<\/strong><\/td><5 mn<\/strong><\/td>5-10 mn<\/strong><\/td>10-20mn<\/strong><\/td>20-50 mn<\/strong><\/strong><\/td>50-100 mn<\/strong><\/td>100-200 mn<\/strong><\/td> 200-500 mn<\/strong> <\/strong><\/td>Total<\/strong><\/td><\/tr>
Q1 2025<\/strong><\/td>4,054<\/td>6,690<\/td>2,785<\/td>670<\/td>24<\/td>7<\/td> 1<\/td>14,231<\/td><\/tr>
YoY % change<\/strong><\/td>-2%<\/td>24%<\/td>48%<\/td>78%<\/td>57%<\/td>180%<\/td>–<\/td>20%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source: Knight Frank Research<\/em><\/em><\/p>\n\n\n\n

Despite a 19% YoY rise in unsold inventory, Pune\u2019s housing market maintained strong absorption levels. The Quarters to Sell (QTS) metric stood at 3.7 quarters, indicating steady buyer interest and sustained demand.<\/strong><\/p>\n\n\n\n

P. Vilas, National Director, and Branch Head- Pune, Knight Frank India<\/em><\/strong>, said, “Pune\u2019s office market continues to evolve in response to shifting occupier needs. The growing preference for flexible workspaces, hybrid models, and sustainable solutions positions the city well for the future. On the residential front, infrastructure upgrades such as the Metro Corridor and expanded road networks have enhanced connectivity, drawing buyers to emerging neighbourhoods. These factors are reinforcing Pune\u2019s status as a key player in India\u2019s real estate landscape.”<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pune: Knight Frank India\u00a0in its latest report,\u00a0India Real Estate: Office and Residential Market (January – March 2025) Q1 2025\u00a0highlights Pune\u2019s office market achieving record growth in Q1 2025. Leasing activity reached 3.7 million square feet (mn sq ft), reflecting a 91% year-on-year (YoY) increase and the highest-ever quarterly transactions. New completions totalled 3.5 mn sq […]<\/p>\n","protected":false},"author":1,"featured_media":20427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71,44,172],"tags":[],"class_list":["post-20426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-pune","category-real-estate"],"_links":{"self":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts\/20426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20426"}],"version-history":[{"count":1,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts\/20426\/revisions"}],"predecessor-version":[{"id":20428,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/posts\/20426\/revisions\/20428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=\/wp\/v2\/media\/20427"}],"wp:attachment":[{"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timesofpowerandvoice.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}