Monthly Real Estate Monitor Pune January 2013

By JLL India 

Pune residential market..!

The Pune residential market witnessed stable demand during December, 2012.

The major residential projects launched in the month included Montvert’s Vesta Valley Town, SKYi Developers’ Songbirds in Pirangut and Dreams Group’s Dreams Avani in Manjri.

The new launches in December marginally increased the capital value in selected sub-markets.

Residential	Rents	Capital Value
Key Precincts	INR per month for a 1,000 sq ft two-BHK apartment	INR per sq ft
Wakad	10,000 to 12,000	3,800 to 4,800
Kharadi	11,000 to 15,000	4,500 to 5,300
Hadapsar	12,000 to 16,000	4,500 to 5,500
Hinjewadi	9,000 to 11,000	3,500 to 4,300
Kondhwa	9,000 to 12,000	3,500 to 4,500
Pimpri-Chinchwad	8,000 to 12,000	3,500 to 4,200

Pune Retail Market..!

With only a few major transactions concluded in December, 2012 Pune retail activity in the malls remained subdued.

The key transactions in December included Karnik and Malabar Gold leasing space in Market City in Viman Nagar. Season’s Mall in Hadapsar would be ready in the market in the next  3 to 5 months. Rents and capital values remained stable over the month.

Retail	Rents (High Streets)	Capital Value
Key Precincts	INR per sq ft per month	INR per sq ft
MG Road	100 to 150	10,000 to 15,000
Bund Garden Road	90 to 130	9,000 to 13,000
F.C. Road	100 to 150	10,000 to 15,000
J.M. Road	100 to 150	10,000 to 15,000
D.P. Road	90 to 130	9,000 to 11,000
S.B. Road	80 to 130	8,000 to 11,000

Office Market in Pune.!

The office market in Pune witnessed an increase in leasing activity in December, 2012 decreasing the vacancy levels marginally.

The key transactions during the month included Affinity Express leasing space in Eon special economic zone (SEZ) in Kharadi, Augnum Technologies renting space in Pentagon Tower at Hadapsar and Sales Build taking space in Commerzone at Yerwada.

SBD was the main destination for leasing activities during December. The month also saw a number of pre-commitments. Rents and capital values remained stable.

Office	Rents	Capital Value
Key Precincts	INR per sq ft per month	INR per sq ft
Hinjewadi	32 to 40	4,000 to 5,000
Hadapsar	40 to 50	5,000 to 6,000
Bund Garden Road	60 to 70	6,500 to 7,500
Viman Nagar	50 to 60	6,000 to 7,000
S.B. Road	55 to 75	6,500 to 7,500
Koregaon Park	60 to 70	6,500 to 7,500

INFRASTRUCTURE ONGOING ..!

The Maharashtra government approved a metro rail project in Pune. A special purpose vehicle, the Pune Metro Rail Corporation (PMRC) had been set up, and the Pune Municipal Corporation (PMC) will be the nodal agency.

The entire project will be developed in phases and is anticipated to be completed within five (5) years.

For more information about JLL India 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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