Pune’s IT Exports Cross ₹1.05 Lakh Crore in 5 Years, Driving Real Estate and GCC Expansion
Pune’s IT Exports Cross ₹1.05 Lakh Crore in 5 Years, Driving Real Estate and GCC Expansion
Pune is strengthening its position as one of India’s leading IT and business hubs. A new report by real estate consultancy JLL, in association with NAREDCO, shows that the city’s IT exports have doubled in the last five years to reach ₹1.05 lakh crore. This milestone has helped Pune emerge as the country’s third-largest software export hub, while also boosting demand in real estate and Global Capability Centres (GCCs).
The report highlights that Pune now makes up 13% of India’s upcoming ‘Grade A’ office space pipeline, with 223 million sq. ft projected by 2028. At present, the city has 89.2 million sq. ft of operational Grade A office stock, placing it firmly on the map as a commercial real estate hotspot.
Pune’s diverse economy adds to its resilience. While IT accounts for nearly 23% of the city’s GDP, manufacturing continues to thrive across MIDC clusters. The city is also home to more than 360 GCCs across banking, manufacturing, and technology sectors, creating jobs and reinforcing its status as a balanced growth market.
Office rentals remain one of Pune’s biggest advantages. Grade A office space costs an average of ₹82.3 per sq. ft per month—14% below the national average. “Apart from competitive pricing, Pune also benefits from lower congestion and strong connectivity, making it an attractive destination for enterprises,” said Sanjay Bajaj, Senior Managing Director at JLL India.
Infrastructure upgrades are further strengthening the city’s appeal. Better road networks and expanding metro lines are improving links between residential, commercial, and industrial areas. “These connectivity upgrades are creating a seamless urban experience, which is vital for supporting workforce growth and real estate demand,” added Dr. Samantak Das, Chief Economist and Head of Research & REIS at JLL India.
With nearly 4 lakh new jobs expected over the next five years, demand for both office and housing is projected to rise sharply. Sustainability will also play a central role, with 97% of new office supply over the next three years expected to be green-certified.
This article is based on findings from JLL and NAREDCO. All figures and quotes are sourced from their report.
