Pune’s Office Sector Records Highest Gross Leasing Volume with 6.8 Million Square Feet in H1 2025, Poised to Cross Historic 10 MSF Mark This Year: Cushman & Wakefield

Pune, 8th July 2025 — Pune’s office market is on track to set a new leasing benchmark in 2025, having recorded its highest-ever gross leasing volume (GLV) for a half-year period at 6.8 million square feet (msf), in H1 2025 (Jan-June), a 67% year-on-year increase and a 54% rise over H2 2024, according to Cushman & Wakefield’s latest Q2 Office MarketBeat Report. GLV factors in all leasing activity in the market, including fresh take-up, renewal of contracted terms by corporates as well as pre-leasing, and is an indication of overall market activity. The city contributed 16% (6.8 msf) to the pan-India GLV of 42 msf in H1 2025, ranking among the top 4 markets alongside Bengaluru (9.9 msf), Mumbai (8.2 msf) and Delhi NCR ( 7.4 MSF).

This strong momentum was driven by robust demand from sectors such as Engineering & Manufacturing, IT-BPM and Flexible workspaces, which together, accounted for ~4.6 msf (close to 70% share) in H1 2025. A total of ~2.7 msf of GCC transactions recorded in H1 2025, of which BFSI, Engineering and Manufacturing and IT-BPM were the top contributors to the GCC with a share of 36%, 51% and 10% respectively.

Flexible Workspaces also continued their upward trajectory, further cementing Pune’s position as the second-largest flex market after Bengaluru. Over the past three years, Flexible Workspaces in Pune have maintained an average annual footprint of 1.56 msf, accounting for around 19% of the city’s overall GLV.

Supply Pipeline continues to remain strong

On the supply side, Pune saw a healthy infusion of new office space in the second quarter, with nearly 8 MSF of new supply added in H1 2025, comprising primarily 90% Grade A and A+ office space. This increase in supply has resulted in a marginal rise in vacancy levels to 12–13%, a shift that is being viewed positively by market participants. After several years of vacancy rates staying below 10%, this evolution toward a more balanced market environment is facilitating swifter deal closures and offering greater options to occupiers seeking large contiguous spaces.

By the end of 2025, with continued quality additions to stock, vacancy is projected to rise to 15–16%, making it a more balanced market. The city is expected to cross 15 MSF in new office supply by year-end, marking a historic high for the Pune office market.

Commenting on the performance, Moinuddin Patel, Managing Director- Pune, Cushman & Wakefield said: “Pune’s office market is poised to achieve a historic milestone in 2025, with gross leasing volumes projected to exceed 10 million square feet for the first time. This anticipated record is underpinned by sustained demand across key sectors. The continued momentum in the flexible workspace segment, the resilience demonstrated by engineering and manufacturing occupiers, and the steady expansion of Global Capability Centres (GCCs) collectively underscore Pune’s growing strategic importance within India’s commercial real estate landscape. Supported by a healthy pipeline of high-quality supply and a more balanced, occupier-friendly environment, the city is well-positioned to cater to the evolving space requirements of both domestic and global enterprises.”

Bengaluru, July 08, 2025: KVN Properties LLP, the institutionally backed real estate investment platform led by industry veteran Venkat K Narayana, has announced a strategic Development Management Agreement (DMA) with Assetz Group to develop a premium residential project in North Bengaluru. The milestone partnership encompasses close to 1 million square feet of development with an estimated Gross Development Value (GDV) of INR1,000 crore, marking a significant expansion of KVN’s residential portfolio.

This agreement elevates KVN’s cumulative tied-up residential development in FY 2025–26 to approximately 4.4 million square feet, following the company’s May 2025 announcement of a 3.4 million square feet joint development with Puravankara Group. The partnership with Assetz Group reinforces KVN’s ambitious target of developing 10 million square feet of residential real estate within the current fiscal year.

Under this strategic DMA model, KVN Properties will undertake the project’s development costs, including land procurement and all construction expenses. Assetz Group, renowned for its premium design-led development and deep micro-market expertise, will serve as the Development Manager, contributing its brand equity, market reputation, and execution capabilities.

“Our DMA with Assetz is a strong statement of our capital strength and commitment to delivering high-quality urban communities. This is a high-conviction investment backed entirely by KVN Properties where we are not only aggregating land but building a portfolio of end-to-end residential developments that combine intelligent planning, financial discipline, and customer-centricity. As we scale to 10 million square feet this fiscal, our goal remains clear: create exceptional living spaces in high-growth corridors with the right partners and a disciplined investment approach,” says Venkat K Narayana, Promoter, KVN Property LLP.

“North Bangalore is a high-growth corridor with a discerning buyer base. This partnership allows us to co-create a landmark project that reflects KVN’s commitment to community-focused development and our passion for design-driven living. The DMA ensures both creativity and discipline, enabling agility without compromising quality. We see strong long-term alignment between Assetz and KVN Property Holdings, given our shared institutional and professional approach to real estate. This marks the beginning of what we believe will be a successful, multi-project collaboration across Bengaluru. The 5.6-acre parcel in North Bengaluru aligns well with our strategy to deliver quality residential apartment development in high-growth markets backed by strong economic drivers.” says Sunil Pareek, Executive Director, Assetz Pvt Ltd

The project is structured as a single-phase development over 3-4 years, commencing post-approval of all development permissions including RERA registration. Leveraging both partners’ deep institutional knowledge of North Bengaluru’s evolving real estate landscape, the residential configurations are being meticulously tailored to meet local demand trends. The DMA includes detailed guidelines on unit types, sizes, and amenity planning, ensuring the final product responds to buyer expectations while maintaining brand differentiation.

KVN Properties is rapidly building a high-quality portfolio anchored in land aggregation, risk-managed development, and curated partnerships. The platform continues pursuing strategic opportunities in Bangalore while actively exploring expansion into Mumbai, Pune, Hyderabad, and Chennai.

KVN’s aggressive expansion occurs against the backdrop of a buoyant Bangalore residential market, which posted 14% year-on-year price growth in H1 2025, highest in India alongside NCR. Fueled by the city’s thriving tech and startup sectors, rising income levels, and infrastructure upgrades, demand for premium housing continues outpacing supply. North Bangalore is emerging as the most dynamic sub-market, supported by connectivity initiatives like the Peripheral Ring Road and proximity to Kempegowda International Airport. Buyer preferences are shifting toward well-amenitized, design-forward homes, trends that KVN and Assetz aim to capture in this landmark development.

Delhi NCR|July 8, 2025: According to a recent Knight Frank India report, Delhi NCR has surpassed Mumbai in the ultra-luxury category, leading sales across segments such as ₹10–20 crore, ₹20–50 crore, and ₹50 crore-plus. Long known for its sprawling suburbs and corporate hubs, Delhi NCR has now emerged as the hottest destination for luxury homebuyers in India—outpacing even high-end markets like Mumbai in the race for ultra-premium living. The region is buzzing with cranes, construction, and a renewed ambition for luxury lifestyles.

Within Delhi NCR, several areas are making headlines when it comes to luxury. Noida’s Sector 150, with its green spaces and golf courses; South Delhi’s posh neighborhoods like Vasant Vihar and Greater Kailash and Gurugram’s emerging markets such as Dwarka Expressway, New Gurugram, SPR, and Golf Course Extension Road are all witnessing strong growth in luxury housing demand. Gurugram, in particular, has become the heart of this transformation.

The Dwarka Expressway corridor is alive with excitement as top developers unveil high-end projects that promise not just homes, but curated lifestyles. Upcoming branded residences, integrated townships, and luxury apartments by renowned developers are designed not just as buildings, but as communities tailored for those who demand the best. With amenities like private cinemas, sky lounges, and wellness spas, Gurugram’s newest addresses are attracting everyone from successful entrepreneurs to celebrities.

Gurugram’s unbeatable connectivity, modern infrastructure, and vibrant social scene give it a distinct edge. The Knight Frank India report also states that over 80% of all home sales in NCR this year have been in the ₹1 crore-plus segment, reflecting a 17% year-on-year growth. It’s clear that owning a luxury home today is not just about status, it’s about investing in a future-ready lifestyle full of possibilities.

For many, moving into a luxury home in Gurugram or its neighboring micro-markets is not just a financial decision, it’s the realization of a dream. It’s about morning walks in landscaped gardens, evenings in rooftop pools, and weekends hosting friends in elegant living rooms. As Delhi NCR steps confidently into its role as India’s luxury housing capital, Gurugram stands tall, welcoming a new generation of dreamers and doers.

Mr. Adil Altaf, Managing Director, Trinity says “The latest Knight Frank India reports highlights a remarkable shift in India’s luxury real estate landscape, with Delhi-NCR decisively outpacing Mumbai in ultra-luxury home sales across the ₹10–50 crore and ₹50 crore-plus segments. This surge is driven by a 2,550% year-on-year growth in ₹50 crore-plus sales reflects robust demand, rising affluence. and a clear preference for premium living in NCR’s prime corridors, especially Gurugram. The region’s momentum signals sustained investor confidence and evolving buyer aspirations.”

Mr. Harinder Dhillon, National Sales Head said, “The remarkable performance of Delhi-NCR in the ultra-luxury segment, as highlighted in the Knight Frank H1 2025 further reinforces the region’s growing prominence as a high-value residential hub. Notably, the ₹2–5 crore segment has seen the most traction, reflecting rising demand for premium yet accessible homes. The Dwarka Expressway has been central to this shift, emerging as a preferred destination for both end-users and investors. Beyond its robust infrastructure and superior connectivity to IGI Airport, Dwarka, Cyber City, and Golf Course Road, the corridor appeals to modern buyers seeking holistic lifestyles that integrate wellness, green spaces, and sustainable design. It marks a clear move toward integrated living that prioritizes both long-term value and quality of life.”

Mr. Mohit Agarwal, Business Head, Conscient Infrastructure Pvt. Ltd. Said, “Luxury homes are becoming the new normal for young buyers in Gurugram, driven by a blend of aspirational, investment acumen, and lifestyle expectations. With high-end infrastructure, immaculate connectivity, and a thriving corporate ecosystem, Gurugram offers the apt standards of living that appeals to millennials and young professionals seeking more than just a residence. They seek smart features, holistic amenities, and a community-centric environment. The surge in high-rise luxury developments, coupled with attractive property offerings, reflects a generational shift where young buyers view luxury real estate as both a status symbol and a smart investment tactic. New Gurugram, in particular is emerging as a seamless blend of modern luxury and strategic urban planning, making it a hotspot for discerning young homeowners. Gurugram’s dynamic growth pattern further ensures that luxury living is not just a fleeting trend, but the new benchmark for urban homeownership.”

With its rising appeal among mid and premium homebuyers, South of Gurugram (Sohna) has quickly evolved into a thriving real estate hotspot, fuelled by robust infrastructure growth and enhanced connectivity. The area is now drawing strong interest from both homebuyers and investors.

Infrastructure advancements and stronger transport links are making South of Gurugram increasingly accessible. The six-lane, 21.65-km-long Sohna Elevated Corridor, Delhi-Mumbai Industrial Corridor, KMP Expressway, and proposed metro line have all boosted its links to big cities like Delhi, Jaipur, and Mumbai. The Southern Peripheral Road (SPR) connects Sohna Road to NH-8 and the Dwarka Expressway, making it easier to travel from Sohna to Gurugram’s major commercial centres and residential areas.

According to 99acres, property prices along Sohna Road have surged by 151% over the past five years, more than doubling and underscoring the area’s steady real estate growth. Properties in Sohna are now selling at an average of ₹15,600 per sq. ft., driven by improved connectivity, rapid infrastructure development, and rising demand from both homebuyers and investors.

As per a Square Yards report, major developers such as Signature Global, Central Park Group, Ashiana, and others are betting big on South of Gurugram, with plans to launch around 16,000 housing units in the area.

Sharing his views on growing real estate appeal of this location, Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., “Sohna’s real estate market has witnessed remarkable growth in recent years, driven by improving infrastructure, better connectivity, and rising demand from both homebuyers and investors. What makes this micro-market even more attractive is its strong growth potential, supported by planned developments, competitive pricing, and upcoming commercial hubs that are likely to boost both employment opportunities and housing demand further.”

Adding to Sohna’s appeal for homebuyers and investors are its quality healthcare facilities, educational institutions, and retail hubs. Hospitals like Medanta – The Medicity and Polaris Hospital offer easy access to medical care. The area also has well-known education institutes such as GD Goenka University and Apeejay Stya University. For shopping and entertainment, there are malls like Signature Global Infinity Mall and Omaxe Celebration Mall.

Under the Sohna Master Plan 2031, around 255 hectares along the Eastern Peripheral Road have been designated for commercial development, strengthening its investment potential. In addition, the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has acquired 607 hectares of land along the KMP Expressway to develop an industrial model township, further boosting Sohna’s position as an emerging real estate and business hub.

NEW DELHI, 7th July 2025 – Magicbricks, India’s leading real estate portal, today announced the comprehensive findings of its latest PropIndex report for April-June 2025. The report indicates a period of sustained, yet stabilizing growth in the Indian residential real estate market, with capital values experiencing a decent 3.5% quarter-on-quarter (QoQ) rise suggesting a market that is consolidating its gains. Demand also saw a robust 4.6% QoQ growth, underscoring a resilient and dynamic property landscape. Long term demand, however, remains subdued, with a 0.3% increase YoY.

The PropIndex APR-JUN 2025 report delves into a nuanced market characterized by distinct regional variations and unwavering buyer confidence, predominantly fueled by aggressive infrastructure development across the country.

The report reflects steady end-user demand and investor confidence, with values now settling into a more stable growth pattern. The report identifies a clear divergence in buyer preferences: IT-driven cities like Bengaluru, Hyderabad, Gurugram, and Noida are seeing higher demand for spacious 2BHK and 3BHK homes (approx 80%), contributing to appreciation in larger unit sizes. Conversely, the Mumbai Metropolitan Region (MMR) remains driven by compact homes, with a strong preference for 1BHK and 2BHK units.

Major infrastructure projects are key drivers of appreciation, with Pune (39.4% YoY), Greater Noida (35.3% YoY), and Kolkata (33.2% YoY) demonstrating strong capital value appreciation due to enhanced connectivity. Projects like the Navi Mumbai International Airport and Mumbai Trans Harbour Link are fundamentally reshaping property values.

This quarter, the market observed a notable shift in supply dynamics, with the QoQ supply growth being subdued, marking its lowest increase in the past five quarters, following a period of consistent surge. Although overall demand remains consistent, a notable supply-demand imbalance is present within the affordable housing segment. Demand for units priced under ₹30 lakh and 1BHK configurations continues to exceed available inventory, contributing to competitive pricing in these categories. Premium properties, while seeing interest, have a more balanced supply-demand dynamic.

Commenting on the report, Prasun Kumar, Chief Marketing Officer, Magicbricks, said, “The Q2 2025 PropIndex clearly indicates a maturing Indian real estate market, driven by genuine end-user demand and the transformative impact of infrastructure. The significant capital value appreciation, particularly the 23.9% YoY growth, underscores the sector’s strength. While the overall growth is highly encouraging, the regional nuances highlight evolving buyer preferences and the ongoing need for developers to align supply with specific market demands, especially in the affordable housing segment. We anticipate this positive trajectory to continue, with infrastructure remaining a key growth engine”

The Magicbricks PropIndex is a quarterly report tracking price trends and demand shifts in key Indian cities, providing comprehensive insights for homebuyers, sellers, investors, and policymakers.

Magicbricks is India’s No.1 property site

As the largest platform for buyers and sellers of property to connect in a transparent manner, Magicbricks has monthly traffic exceeding 2 crores and an active base of over 15 lakh property listings. Magicbricks has metamorphosed into a full stack service provider for all real estate needs, with services including home loans, interiors, and expert advice.

With 17+ years of experience and deep research-based knowledge, Magicbricks also presents a repertoire of insight-driven platforms like MBTV – India’s leading online real estate YouTube channel, and other proprietary tools so that home buyers can access all information related to price trends and forecasts, locality reviews and more.

Bengaluru, 07 July 2025: Building on its impressive growth momentum in Maharashtra, Royal Orchid Hotels Ltd (ROHL) has today launched a new property in the industrial and commercial hub of Solapur. Regenta Central Shivani, Solapur is thoughtfully crafted to offer modern conveniences, catering to both business and leisure travellers. ROHL has launched 4 properties in Maharashtra this year and continues to strengthen its foothold in the state.

On in south-western region of the state, on the Bhima and Seena river basins, Regenta Central Shivani, Solapur is tactically located in the MIDC area offering beautiful lake views. The property features Rajasthani Themed designed with 65 well-appointed rooms, including three accessible rooms, ensuring comfort and convenience for all guests. With modern amenities like a swimming pool, spa, and gym, it caters to both leisure and business travellers. Also known as textile city, Solapur is a leading manufacturer of many commercial goods with religious significance and rich history. Situated just four hours from urban centres like Pune and Hyderabad, the property is surrounded by iconic temples such as Tuljapur, Pandharpur, and Akkalkot.

The hotel also boasts the largest common area in the city, featuring ROHL’s signature all-day dining restaurant with 170 covers, a poolside bar with 40 covers, and a cozy lobby café. Ideal for small gatherings and medium scale events, the property offers a 1000 sq. ft. meeting room, an expansive 8600 sq. ft. banquet, and a sprawling 25,000 sq. ft. lawn.

Speaking on the announcement, Chander Baljee, Chairman and Managing Director of Royal Orchid Hotels Ltd., said, “We are thrilled to expand our presence in Maharashtra with our 13 properties in the state, addressing the growing demand for tourism and business accommodations. Solapur, with its rich tradition of textiles, handicrafts, and leather goods, serves as a strategic commercial hub with excellent connectivity to cities like Hyderabad and Pune. This expansion aligns with our plans to penetrate micro-markets with properties ranging from upscale hotels to value stays. We are excited to partner with Mathura Agro for Regenta Central Shivani, Solapur.”

Mr Venugopal Karwa and Lavesh Karwa, MD of Mathura Agro Industries added, “This collaboration with ROHL is an exciting milestone for us. The introduction of the Regenta brand’s fresh and vibrant energy to Solapur, we look forward to offering our guests a distinctive and exceptional experience.”

Solapur is a vibrant destination offering a unique blend of historical landmarks, cultural heritage, and natural wonders. Known for its ancient temples like the Siddheshwar Temple and the Shri Shivyogi Siddheshwar Swami Math, which attract pilgrims and devotees from across the country, Solapur is rich in cultural tapestry. With serene beauty of spots like the Great Indian Bustard Sanctuary, nature enthusiasts can also enjoy the majestic birds in their natural habitat. Visitors can also indulge in boating activities, birdwatching amidst tranquil surroundings at the Ujani Dam.

By – Mr Akash Puri, Director International, India Sotheby’s International Realty

The recent overhaul of the UAE’s Golden Visa marks a significant shift in the country’s residency landscape. The new framework is more inclusive and strategically aligned with the UAE’s long-term vision. For Indian real estate investors, this change brings a two-pronged impact:

Historically, property investment was one of the few avenues to secure long-term residency, prompting a surge of interest from Indian investors seeking both capital preservation and immigration benefits. With the visa now accessible through broader channels, the urgency to invest solely for residency purposes is likely to ease—particularly in the mid-market and entry-level segments. This could cool speculative buying and encourage more grounded investment behaviour.

Investors who remain committed to the UAE property market—driven by rental yields, lifestyle advantages, or diversification—will now place greater emphasis on fundamentals like location, developer credibility, and long-term value. Luxury and trophy assets will continue to appeal to ultra-HNWIs, who are largely unaffected by the new professional-centric criteria.
For Indian investors, this is a cue to recalibrate: from residency-led transactions to value-led strategies. Over time, this evolution could establish a more stable, resilient real estate market—one that rewards strategic, long-term participation over short-term speculation.