Pune’s office stock expected to rise ~49% to ~140 million sq. ft. by 2030

Pune – November 26, 2025 – CBRE South Asia Pvt. Ltd., India’s leading real estate consulting firm, today released a whitepaper titled ‘Pune: Decoding the Deccan Dynamo’s Real Estate Ascent’, highlighting that the city’s office stock is likely to increase by around 49% from over 94 million sq. ft. (including PCMC) at the end of September 2025 to ~140 million sq. ft. by 2030, led by an influx of high-quality supply, surging institutional capital, transformative infrastructure, availability of skilled talent, and diversified occupier demand. As a result, Pune is likely to emerge as the third-fastest growing office market in India, behind Bengaluru and Hyderabad.

Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said that the city’s upcoming development cycle is expected to be hallmarked by green-certified investment-grade assets with amenity-rich features.

“Pune followed a conventional but noteworthy growth path, evolving from a manufacturing stronghold into a vibrant, multi-dimensional economic hub. Today, it is undergoing a profound transformation with quality and sophistication of the real estate offerings at the forefront. Leading developers, including institution-backed players, are reshaping its skyline with premium high-quality assets.,” he said.

According to the report, the tech sector has driven the city’s real estate landscape with Pune’s Information Technology (IT) office stock rising 50X in the last 25 years.

The city’s office market demonstrated strong demand fundamentals prior to the pandemic, recording an average annual leasing of ~5.9 million sq. ft. between 2016 and 2019. While the market mirrored national trends with subdued activity during the 2020-2021 pandemic period, it has since staged a powerful resurgence, with the average annual demand surging to ~ 7.2 million sq. ft. during 2022 to 9M 2025, driven primarily by an influx of high-quality real estate offerings designed to meet the evolving preferences of modern occupiers.
The report added that the developers have reciprocated the rising demand trends, with the average annual supply rising from ~3.6 million sq. ft. between 2016 and 2019, to ~6.5 million sq. ft between 2022 and 9M 2025.

Notably, since 2015, the city's real estate sector has garnered investment inflows worth USD ~4.4 billion.

Moreover, the projects are getting bigger. The number of projects spanning more than 500,000 sq. ft. have doubled from 11 between 2016 and 2019 to 22 between 2022 and 9M 2025. Over 50% of occupiers preferred taking up space across assets with total leasable area more than 500,000 sq. ft.

Ram Chandnani, Managing Director, Leasing, CBRE India, said, “Pune's inherent strengths including its industrial legacy, rich talent pool, progressive policy environment, and increasing institutional investment are converging and positioning it as a premier office destination catering to an increasing number of Global Capability Centers (GCCs) across sectors. The post-pandemic shift towards high-quality workspaces has further accelerated this evolution.”

The city is also witnessing high adoption of sustainability with a 52% share of green-certified stock in overall office stock.

Apart from office real estate, Pune has also emerged as the third-biggest residential market, just after Delhi-NCR and Mumbai. Since 2019, the city's real estate sector has garnered investment inflows worth USD ~3.6 billion. Coupled with enhanced airport connectivity, an expanded metro network, and strategic ring road development, Pune's office market is poised for pivotal expansion and a steeper growth trajectory in the years to come.