Pune News: Pune’s IT exports have doubled in the country’s ‘Grade A’ office stock in the supply pipeline due to doubling in the last five years. This information was given in a report on Thursday.

According to a report by real estate service firm JLL and NAREDCO, Pune’s real estate market has become a commercial real estate hotspot as it has emerged as India’s third largest software export hub, with IT exports to Rs 1.05 lakh crore in the last five years.

23 percent contribution of IT sector

The city’s ‘Grade A’ office stock in the supply pipeline is 223 million square feet. The report said that the IT sector contributes 23 percent to Pune’s GDP.

The city currently has 89.2 million square feet of operational grade A office stock. In addition, Pune is home to the more than 360 global capacity centers (GCC) in the fields of BFSI, manufacturing and technology, which improves its strong and diversified ecosystem.

14 percent less rent than national average

The fare of Grade A office space is an average of Rs 82.3 per square feet per month, which is 14 percent less than the national average. Pune Senior Managing Director, Logistics and Industrial- Executive Overcast Sanjay Bajaj said, “Apart from prices,” apart from prices, low traffic and better connectivity, submit a unique price proposal for entrepreneurs that optimize their real estate portfolio, “said Sanjay Bajaj said.

Sanjay further said, “The expansion of infrastructure in Pune, demographic advantage and economic diversification together prepares a blueprint for sustainable metropolitan prosperity.”

In the next five years, 4 lakh new employees are expected to be added, which will increase the residential real state market.

Dr. Samantak Das, Chief Economist and Research and REIS Head of JLL India, said, “Road network and metro connectivity will increase this attraction, which will connect residential, commercial and industrial areas uninterruptedly.”

The report said that about 97 percent of the office supply will be green-certified in the next three years as per the country’s sustainability goals. -With agency input