Pune - Monthly Real Estate Monitor – December 2012 By JLL India

Pune’s office market witnessed stable leasing activity in November. The key transactions during the month included Fund Tech leasing space in a building by AG Construction at Bavdhan, Ericson leasing space in Giga Space at Viman Nagar and Avaya leasing space in Pride House at Senapati Bapat Road. Vacancy in the city declined as a result of the stable transaction activity. There were no new office spaces introduced, and rents and capital values remained stable.

Due to the limited transaction activity in every submarket, sluggish leasing activity was observed in the malls in Pune’s retail market. The key transactions in November included Mainland China and Cine Max leasing space in Prime Mall, which is located in the northern part of the city. Rents and capital values remained stable over the month.

Demand for residential unit remained stable in November. The major residential projects launched in the month included Gulmohar Parkview in Kharadi by Gulmohar Developments and Park Grandeur in Baner by Pride Purple Group. Capital Values remained stable in every submarket.

 INFRASTRUCTURE ONGOING ..!

The state government allocated Rs. 200 crore to Phase I of the proposed international airport at Rajgurunagar, giving a boost to the very delayed project. The funds for Phase I will be used to acquire 1,800 ha (18 million sqm) of land for two runways, amenities and commercial development and will be returned to the residents affected by the project under the buyback policy.

Office	Rents	Capital Value
Key Precincts	INR per sq ft per month	INR per sq ft
Hinjewadi	32–40	4,000–5,000
Hadapsar	40–50	5,000–6,000
Bund Garden Road	60–70	6,500–7,500
Viman Nagar	50–60	6,000–7,000
S.B Road	55–75	6,500–7,500
Koregaon Park	60–70	6,500–7,500
Retail	Rents	Capital Value
Key Precincts	INR per sq ft per month	INR per sq ft
MG Road	100–150	10,000–15,000
Bund Garden Road	90–130	9,000–13,000
FC Road	100–150	10,000–15,000
JM Road	100–150	10,000–15,000
DP Road	90–130	9,000–11,000
SB Road	80–130	8,000–11,000
Residential	Rents	Capital Value
Key Precincts	INR per month for a 1,000 sq ft 2BHK apartment	INR per sq ft
Wakad	10,000–12,000	3,500–4,500
Kharadi	11,000–15,000	4,500–5,300
Hadapsar	12,000–16,000	4,500–5,500
Hinjewadi	9,000–11,000	3,500–4,500
Kondhwa	9,000–12,000	3,700–4,500
Pimpri-Chinchwad	8,000–12,000	3,500–4,200

For more information about our research

Ashutosh Limaye

Head, Research and REIS

ashutosh.limaye@ap.jll.com

+91 98211 07054

Trivita Roy

Assistant Vice President, Research

trivita.roy@ap.jll.com

+91 40 4040 9100

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