Pune’s IT Exports Soar to Rs 1.05 Lakh Crore in 5 Years, GCCs Thrive
New Delhi, September 11 (IANS) - Pune has captured 13 per cent of India’s ‘Grade A’ office stock in the supply pipeline, thanks to the city’s robust IT sector. A report from real estate services firm JLL and NAREDCO highlights that Pune’s IT exports have doubled in just five years, reaching Rs 1.05 lakh crore.
The city’s real estate market has become a commercial real estate hotspot, positioning Pune as India’s third-largest software export hub. The report indicates that Pune’s ‘Grade A’ office stock in the supply pipeline totals 223 million square feet, expected to be unlocked by the end of 2028.
The IT sector contributes significantly to the city’s economy, accounting for 23 per cent of Pune’s GDP. Manufacturing continues to thrive across MIDC industrial clusters, further diversifying the economic landscape. Pune currently has 89.2 million square feet of operational Grade A office stock.
Moreover, Pune is home to over 360 Global Capability Centres (GCCs) across various sectors, including BFSI, manufacturing, and technology. These GCCs enhance the city’s resilient and diversified ecosystem, making it an attractive destination for businesses.
Grade A office spaces in Pune command rents averaging Rs 82.3 per sq. ft per month, which is a compelling 14 per cent discount compared to the national average. Sanjay Bajaj, Senior Managing Director, Pune, and Executive Oversight (Logistics and Industrial), India, JLL, commented, “Apart from pricing, lower traffic congestion and superior connectivity create an irresistible value proposition for enterprises optimising their real estate portfolios.”
The city’s infrastructure expansion, demographic advantages, and economic diversification are converging to create a blueprint for sustainable metropolitan prosperity. “In Pune, infrastructure expansion, demographic advantages, and economic diversification converge to forge a blueprint for sustainable metropolitan prosperity,” Sanjay added.
The anticipated addition of 0.4 million new employees over the next five years is also driving the residential real estate market. Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL, noted, “Comprehensive road networks and metro connectivity that will seamlessly link residential, commercial, and industrial zones add to the allure.”
Almost 97 per cent of the office supplies set to be released in the next three years are green-certified, aligning with the nation’s sustainability objectives. This commitment to sustainability further enhances Pune’s appeal as a leading business and residential destination.
