tate Bank of India (SBI) has acquired a commercial property in Pune’s Kharadi area for ₹414 crore, marking one of the larger office asset transactions involving a bank in the city’s commercial property market.
The transaction includes leasehold rights over 2.12 acres of land at Kharadi Knowledge Park and ownership of a commercial building measuring around 1.84 lakh sq ft. The building comprises a basement, stilt and 15 floors, along with 200 car parking spaces.
The property was acquired from Siddhivinayak Enterprises through a deed of assignment, according to property registration documents accessed through real estate data analytics platform CRE Matrix. The transaction attracted stamp duty of ₹28.98 crore.
Under the transaction, SBI has acquired ownership of the commercial building, while the underlying land remains under leasehold ownership. The acquisition gives the public sector lender a sizeable commercial facility in Kharadi, one of Pune’s established business districts.
Kharadi has developed into a major office and commercial destination, with technology companies, financial services firms and global capability centres operating across the area. The locality has also witnessed the development of large office and mixed-use projects over the past decade, supported by demand from corporate occupiers.
The transaction comes at a time when demand for office space remains strong across Pune and other major Indian cities. Companies from the technology, financial services and global capability centre segments have continued to contribute to office leasing, while flexible workspace operators have also expanded their presence.
Banks and financial institutions are increasingly participating in the commercial property market not only as office occupiers but also as buyers of office assets. Such acquisitions can provide institutions with owned facilities for corporate offices, back-office operations and other business functions.
India’s office property market recorded strong leasing activity in 2025, with office leasing reaching 86.4 million sq ft. Bengaluru, Delhi-NCR, Mumbai, Hyderabad and Pune accounted for a significant share of the overall leasing activity.
Pune has remained an important office market, supported by its technology and financial services base. Established locations such as Kharadi continue to attract occupiers seeking office space with access to business infrastructure and connectivity.
For SBI, the ₹414 crore acquisition provides ownership of a large commercial building in an established Pune business district. The transaction also reflects the continued participation of institutional and corporate buyers in India’s office property market.
