Now Reading: SBI buys Pune commercial property for Rs 414 crore
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SBI buys Pune commercial property for Rs 414 crore
State Bank of India, the country's largest public sector lender, has acquired a commercial property in Pune's Kharadi area for Rs 414 crore. The deal includes assignment of leasehold rights over 2.12…
State Bank of India, the country's largest public sector lender, has acquired a commercial property in Pune's Kharadi area for Rs 414 crore. The deal includes assignment of leasehold rights over 2.12 acres of land at Kharadi Knowledge Park and outright ownership of a 1.84 lakh sq ft commercial building constructed on the plot. The building has 15 floors, a basement, stilt, and 200 car parking spaces.
The property was purchased from Siddhivinayak Enterprises through a deed of assignment, with stamp duty of Rs 28.98 crore. The transaction is one of the largest office asset deals concluded by a bank. Kharadi has become a major commercial hub with technology companies and financial services firms. India's office leasing hit a record 86.4 million sq ft in 2025, driven by demand from global capability centres and financial institutions.
Indian Opinion Analysis
This acquisition reflects a broader trend of banks buying rather than leasing office space to control long-term occupancy costs. SBI now holds a significant owned asset in Pune's Kharadi micro-market, where lease rates have risen steadily over the past five years. The bank can either use the building for its own back-office operations or lease it out for rental income. Watch for SBI's next quarterly report to see if similar property acquisitions follow, as the bank seeks to optimise its real estate portfolio amid rising office demand.
Next to watch: SBI's next quarterly earnings for any disclosure on planned property acquisitions.
Source: realty.economictimes.indiatimes.com
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