State Bank of India has completed a significant real estate transaction in Pune's commercial hub, acquiring leasehold rights over 8,581 sq metres of land in Kharadi Knowledge Park along with outright ownership of a 17,078.56 sq metre building. According to property documents accessed by CRE Matrix, the transaction was registered on August 14, 2026, with the deed of assignment executed between Siddhivinayak Enterprises as the assignor and State Bank of India as the assignee. The deal covers 8,581 sq metres of leasehold land, equivalent to around 92,361 sq ft, with SBI also acquiring outright ownership of the building structure. The latest occupancy certificate issued by the Maharashtra Industrial Development Corporation (MIDC) in January 2026 records the completed building's built-up area at 17,101.23 square metres.
The total consideration for the transaction stands at ₹414 crore, with stamp duty of ₹28.98 crore paid on the deal. As reported by CRE Matrix, the building comprises a basement, stilt and 15 floors, providing SBI with a substantial commercial asset in one of Pune's prime business locations. The property also includes 200 car parking spaces, making it a comprehensive commercial facility. The transaction was structured with ₹41.4 crore paid in December 2023, ₹289.8 crore in 2024, and the remaining ₹82.8 crore on August 14, 2026, according to deal-related documents.
The acquisition is specifically intended to establish SBI's Local Head Office (LHO) for its Maharashtra Circle. According to CRE Matrix, SBI had invited bids in April 2023 for the purchase of ready-built premises in Kharadi, Viman Nagar or Baner for this purpose. The property is strategically located in Kharadi Knowledge Park, Village Kharadi, Taluka Haveli, Pune district, which has emerged as a major office and business hub in the city. The building's location in one of Pune's prominent commercial and office hubs positions SBI well for its regional operations in Maharashtra.
Pune has recorded its highest half-yearly gross office space absorption volume in the last decade at 6.4 million square feet (msf) in the first half of calendar year 2026 (H1 2026), up 56 per cent year-on-year (YoY), according to property consultancy firm Savills India. As reported by Business Standard, the city has emerged as India's second-largest office market after Bengaluru. Leasing activity was primarily driven by IT-BPM, flexible workspaces and engineering & manufacturing, with the latter replacing BFSI among the top three demand drivers, according to Savills.
