Pune, 22nd August 2026: State Bank of India (SBI) has acquired a commercial property in Pune’s Kharadi Knowledge Park for ₹414 crore, in one of the significant commercial property transactions involving a bank in the city.
According to documents accessed by real estate data analytics platform CREMatrix, SBI has acquired leasehold rights over an 8,581-square-metre land parcel in Kharadi Knowledge Park. The bank has also acquired outright ownership of the commercial building standing on the land, which has a total area of 17,078.56 square metres.
The transaction gives SBI ownership of the building while the underlying land remains on a leasehold arrangement. The property works out to roughly 1.84 lakh square feet, based on the building area reported in the transaction documents.
The ₹414-crore acquisition comes as Kharadi continues to remain one of Pune’s key commercial and office destinations, with the area attracting companies from the banking, financial services, technology and other corporate sectors.
The transaction also adds to a series of large commercial real estate deals in Kharadi in recent years, reflecting sustained demand for office assets in Pune’s eastern business corridor. The locality has seen major office transactions involving both occupiers and investors, including large-scale leasing and acquisition activity.
Unlike a conventional office lease, the latest transaction involves SBI acquiring the building outright while holding leasehold rights over the land. This structure allows the bank to control and own the commercial asset while the land itself continues under the leasehold arrangement.
The acquisition comes amid continued activity in Pune’s commercial real estate market, particularly across established office hubs such as Kharadi. The area has emerged as a major employment and business destination, supported by the presence of large corporate occupiers and expanding office infrastructure.
The latest transaction therefore marks a significant addition to SBI’s commercial property holdings in Pune, with the bank acquiring a sizeable office asset rather than taking the property on lease.
