In Pune, of the 7.8 million sq ft of supply, Hinjewadi and Hadapsar accounted for the majority of the total share. The total demand during 2007 was approximately 6.35 million sq ft of which 5.5 million sq ft was absorption and the balance 0.85 million sq ft was accounted for by pre-lease commitments.
Most of the demand for commercial space in Pune came from IT-ITeS sector, mostly centred in Hinjewadi. Suburban and peripheral locations, especially Hinjewadi and Kharadi, are fast emerging as major office hubs in Pune.
In some Micro-markets of Pune, such as Nagar Road, Yerwada, Kalyani Nagar, Kharadi, Phursunghi and Magarpatta, vacancy rates rose this year. This is attributed to the high rentals and the existence of sub-prime properties in these markets. The growing trend of companies moving into SEZs is also responsible for this trend
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