The demand for industrial and storage space in Maharashtra’s second-largest city, Pune, is likely to expand by double digits to almost 7.5 million square feet this year.
According to the newest study, e-commerce and third-party logistics providers would drive demand in Pune.
The research revealed that the demand is expected to climb 15-16% in 2022, bringing it to 7.5 million square feet by the end of the year.
Pune’s demand reached a high of 6.5 million square feet in 2021. Its industrial and warehouse industry grew quickly last year, with current stock totaling 33.2 million square feet.
In the city, monthly leases are currently between $17 and $30 per square foot.
Several significant global firms focusing on auto, auto and ancillaries, electronics, white goods, and some of the newest industries such as Electric Vehicles (EVs) and renewables have relocated to the city.
As per the study, supply is mostly centred in the northern section of the city, particularly Chakan and Talegaon, along with the eastern belt, which runs from Phulgaon to Ranjangaon.
It’s worth noting that Chakan and Talegaon provide over 70% of the industrial and warehousing supplies.
By the end of 2025, Pune’s supply is estimated to reach 60 million square feet.