Pune to log 15% rise in demand for industrial, warehousing spaces in 2022: JLL India

Demand for industrial and warehousing spaces in the second largest city of Maharashtra is seen to record double-digit growth to about 7.5 million square feet this year. The latest JLL India report said that demand will see a rise in Pune due to e-commerce and third-party logistic firms.

JLL India in a statement said the projected growth in demand is ~15-16% in 2022 to take it to 7.5 million square feet by the end of 2022, reported by the PTI.

In 2021, Pune's demand peaked at 6.5 million square feet. Its industrial and warehousing market rose rapidly with the current stock at 33.2 million square feet in the year.

At present, the monthly rentals are ₹17-30 per square feet in the city.

As per the JLL India report, Pune has been a manufacturing hub since the 1960s. The city has attracted several large multinational corporations, focused on auto, auto and ancillaries, electronics, white goods, and some of the newer industries like Electric Vehicles (EVs) and renewables.

Further, the report outlined that the supply is predominantly concentrated in the northern part of the city, namely Chakan and Talegaon, and the eastern belt starting from Phulgaon to Ranjangaon.

It needs to be noted that Chakan and Talegaon account for almost 70% of the industrial and warehousing supply.

Pune's supply is expected to earmark 60 million square feet by the end of 2025.