State Bank of India (SBI) has acquired leasehold rights over an 8,581-sq-metre parcel in Pune’s Kharadi Knowledge Park, along with outright ownership of a 17,078.56-sq-metre commercial building standing on the land, for ₹414 crore. According to the documents accessed by CRE Matrix, the transaction was registered on August 14, 2026. Siddhivinayak Enterprises executed the deed of assignment as the assignor, while SBI acquired the property as the assignee.
The property sits in Kharadi Knowledge Park, Village Kharadi, Taluka Haveli, Pune district. The location forms part of Pune’s established commercial and IT corridor and hosts a growing concentration of office and business activity.
Transaction Details
The transaction covers 8,581 sq metres of leasehold land, equivalent to approximately 92,361 sq ft. In addition, SBI has acquired outright ownership of the commercial building constructed on the parcel.
The building spans 17,078.56 sq metres, or approximately 1.84 lakh sq ft. It comprises a basement, stilt and 15 floors, giving SBI control of a sizeable built-up commercial asset in one of Pune’s key business districts.
SBI paid ₹414 crore as consideration for the transaction. The registration also involved stamp duty of ₹28.98 crore.
What does the ₹414-crore consideration imply?
A simple division of the ₹414-crore consideration by the 8,581-sq-metre land area gives an indicative value of approximately ₹4.82 lakh per sq metre, or around ₹44,800 per sq ft of land area.
However, this calculation does not represent the actual land price. The transaction includes both the leasehold rights over the land and outright ownership of the 1.84-lakh-sq-ft building. Therefore, the consideration reflects the overall property acquisition rather than a standalone land valuation.
Why is the acquisition significant for Kharadi?
The acquisition strengthens SBI’s presence in Kharadi, which has developed into one of Pune’s major office and business hubs. Moreover, the scale of the asset gives the bank control over a substantial commercial building within an established IT and employment corridor.
The transaction also highlights continued institutional activity in Pune’s commercial real estate market, particularly in established office locations such as Kharadi, where large-format assets continue to attract significant capital commitments.
Recent Transactions
Pune’s commercial real estate market continues to see activity across office, retail and investment assets. Recent transactions highlight sustained demand for quality commercial properties, strategic locations and large-format assets, reinforcing Pune’s position as one of India’s key real estate markets.
Earlier this year, Merlin Group acquired a 3.26-acre land parcel in Mundhwa, near Koregaon Park, Pune, for ₹273 crore. The developer plans to develop an office-led commercial project on the site.
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