Pune is rapidly transforming into one of India’s fastest-growing hubs for Global Capability Centers (GCCs) and flexible office spaces, according to the latest market trends. The city witnessed a staggering 91% year-over-year increase in office leasing during Q1 2025, signaling a strong shift in India’s commercial real estate landscape
Pune’s Office Leasing Hits Record High
As per industry data, Pune recorded 3.7 million sq. ft. of office leasing in the first quarter of 2025 — up from 1.9 million sq. ft. during the same period last year. This jump places Pune among the top three cities for commercial real estate demand, trailing only Bengaluru and Hyderabad
- Bengaluru: 12.7 million sq. ft.
- Hyderabad: 4 million sq. ft
- Pune: 3.7 million sq. ft.
This surge is largely driven by GCC expansions and the growing appetite for flexible workspaces, especially among tech firms, startups, and global enterprises
GCCs Drive Demand for Premium Office Spaces
Global Capability Centers are leading the charge in Pune’s leasing activity. In Q1 2025 alone, GCCs accounted for 1.1 million sq. ft. of space — up from just 0.3 million sq. ft. in Q1 2024. This four-fold growth underscores Pune’s rising reputation as a cost-effective, talent-rich destination for global organizations looking to scale operations in India.
With companies like HSBC, Credit Suisse, ZF, and TCS already operating major GCCs in the region, Pune is increasingly seen as a strategic location for engineering, R&D, digital transformation, and data analytics.
With companies like HSBC, Credit Suisse, ZF, and TCS already operating major GCCs in the region, Pune is increasingly seen as a strategic location for engineering, R&D, digital transformation, and data analytics.
Flexible Workspaces Make Up 43% of Leasing Activity
One of the most striking trends in Pune’s commercial market is the dominance of flexible office spaces. Accounting for 43% of total leasing, or 1.6 million sq. ft., coworking and managed spaces are becoming the preferred choice for both multinational corporations and fast-scaling startups.
Providers like WeWork, Smartworks, 91Springboard, and Awfis are expanding rapidly to meet this demand, offering plug-and-play solutions that appeal to a post-pandemic, hybrid-workforce era
Providers like WeWork, Smartworks, 91Springboard, and Awfis are expanding rapidly to meet this demand, offering plug-and-play solutions that appeal to a post-pandemic, hybrid-workforce era
Why Pune is Becoming the Next GCC and CRE Powerhouse
Several factors are positioning Pune as a frontrunner in India’s GCC and commercial real estate boom:
- Skilled Talent Pool: Pune is home to some of India’s top engineering and management institutions, making it a rich source of high-quality talent
- Cost Advantage: Compared to Bengaluru or Mumbai, Pune offers competitive commercial rentals and lower cost of living
- Robust Infrastructure: With improved metro connectivity, expressways, and proximity to Mumbai, Pune offers excellent logistics and urban infrastructure
- Government Support: Maharashtra’s proactive policies and ease-of-doing-business measures have made it attractive for global players
What’s Next?
With continued GCC growth, hybrid work models, and investor confidence, Pune is poised to scale even further in the coming quarters. The city is not only playing catch-up — it’s carving a unique identity as a balanced ecosystem for innovation, scalability, and work-life quality
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