The Pune industrial and warehousing market demand is predicted to clock an all-time excessive of seven.5 million sq ft in 2022. The Pune market had a inventory of 33.2 million sq ft in 2021 and the provision is predicted to be near 60 million sq ft by the tip of 2025, a report by actual property consultancy agency JLL mentioned.
“Pune witnessed peak demand of 6.5 million sq. ft. in 2021, indicating a transparent resurgence of the economic system in addition to buyer sentiments, led by manufacturing, 3PL, and e-commerce. Moreover, the town witnessed elevated curiosity from world traders and funds, evaluating additional investments. The projected development in demand is round 15-16% in 2022 to take it to 7.5 million sq. ft by the tip of 2022,” the report mentioned. Town had witnessed round 4 million sq. ft of annual absorption from 2017 to 2021.
Sanjay Bajaj, managing director — Logistics and Industrial, India, JLL & Pune, JLL mentioned: “The Pune market had a wholesome demand-supply dynamics over the few years, which resulted in emptiness ranges hovering across the 10%. This was anticipated to proceed over the subsequent few years, making Pune one of the crucial enticing markets within the nation for the event of commercial parks and warehouses.”
Chakan and Talegaon account for nearly 70% of the commercial and warehousing provide. The remainder of the provision was within the Jap belt ranging from Phulgaon to Ranjangaon. Other than auto, auto and ancillaries, electronics, white items, and a few of the demand had come from newer industries like electrical autos and renewables, the JLL report mentioned. This demand was additionally pushed by the bodily infrastructure, roads, water, energy supplied by the Maharashtra Industrial Growth Company and connectivity to Nationwide Highways and JNPT port.