Pune’s Grade A commercial office real estate market has been increasingly attracting the attention of major office space occupiers as a second option to Mumbai, because of its freshly available quality office space on lease or rent options, comparatively affordable rental rates, as well as its proximity, IT towers of International standards   and excellent connectivity with India’s financial capital.

On the policy front, meanwhile, the Pune Municipal Corporation (PMC) & PCMC has approved a proposal to provide concessions to new IT firms setting up offices in the city to further promote the sector as per the Article of newspaper The Indian Express . Helping to position Pune as a preferred destination for IT firms in the country. While a sustained demand for Grade A office space on rent ensured the heightened pace of transactions in the city during the second quarter of 2015, the volume of large transaction closures were a result of the consolidation or expansion exercises of key corporate space occupiers.

 More than 85 per cent of the total office space leased in this micro-market was in IT developments. One of the reason for Strong demand from corporate occupiers in the commercial and IT office segments for this location for office space on rent is because of easily available talent & skilled manpower. Pune’s traditional industrial hub has been going strong too; and apart from the IT/ITeS sector, the banking, financial services and insurance (BFSI) sector has also been targeting the city in recent times