SBI buys Pune commercial property in Kharadi for ₹414 crore
State Bank of India has acquired a commercial building and leasehold land in Pune’s Kharadi district for ₹414 crore. The 15-storey property spans about 1.84 lakh sq ft on a 2.12-acre site within Kharadi Knowledge Park.
State Bank of India (SBI) has completed the acquisition of a commercial property in Pune’s Kharadi area for ₹414 crore, one of the largest office asset transactions by a bank in India. The deal covers both the assignment of leasehold rights over 2.12 acres of land at Kharadi Knowledge Park and outright ownership of an approximately 1.84 lakh sq ft commercial building constructed on the plot.
The building comprises a basement, stilt and 15 floors, and includes 200 car parking spaces. The property was purchased from Siddhivinayak Enterprises through a deed of assignment, according to property registration documents accessed via realty data platform CRE Matrix. Stamp duty on the transaction amounted to ₹28.98 crore.
Under the deal, SBI acquires full ownership of the building while the underlying land remains on a leasehold basis. Kharadi has developed into one of Pune’s leading commercial and office hubs, with a high concentration of technology firms, financial services companies and global capability centres. The micro-market has seen continued expansion of large office and mixed-use projects over the past decade.
The acquisition comes as demand for quality office space persists in Pune’s established business corridors, particularly from technology and financial services occupiers. India’s office property market set a record in 2025 with 86.4 million sq ft of leasing, driven by Bengaluru, Delhi-NCR, Mumbai, Hyderabad and Pune.
Demand has broadened beyond traditional technology tenants, with global capability centres, financial services firms and flexible workspace operators becoming major sources of leasing. Banks and other financial institutions are also increasingly active in the market both as occupiers and buyers of office assets as they expand their branch, back-office and corporate office footprints.
