The State Bank of India (SBI) acquired 8,581 sq m (around 92,000 sq ft) of leasehold land along with 1.83 lakh sq ft of built-up space spread across 15 floors in Pune’s Kharadi Knowledge Park for ₹414 crore, according to property registration documents accessed by CRE Matrix.
The transaction gives SBI the leasehold rights to the land along with outright ownership of the 17,078.56 sq m (around 183,830 sq ft) building standing on the plot, according to the registration documents. The building comprises a basement, stilt and 15 floors. The property also includes 200 car parking spaces.
The transaction was registered on August 14, 2026, and involves Siddhivinayak Enterprises as the assignor and SBI as the assignee.
The consideration value for the transaction stood at ₹414 crore, while the stamp duty paid was ₹28.98 crore, the property registration documents showed. The transaction was executed through a Deed of Assignment and registered with the Maharashtra government on August 14.
The property is located at Kharadi Knowledge Park in Village Kharadi, Taluka Haveli, District Pune, with the postal code 411014. Kharadi is one of Pune’s prominent commercial and office markets and has witnessed significant development of technology parks, commercial projects and office spaces in recent years.
The acquisition gives SBI ownership of the existing building constructed on the leasehold land, in addition to the leasehold rights associated with the underlying plot. The building’s total constructed area is approximately twice the size of the land parcel, reflecting the multi-storey nature of the property.
{{/usCountry}}The acquisition gives SBI ownership of the existing building constructed on the leasehold land, in addition to the leasehold rights associated with the underlying plot. The building’s total constructed area is approximately twice the size of the land parcel, reflecting the multi-storey nature of the property.
{{/usCountry}}Property registration data showed that Siddhivinayak Enterprises was the seller or assignor in the transaction, while State Bank of India was the purchaser or assignee. The transaction was registered as a Deed of Assignment, indicating the transfer of the relevant leasehold rights and ownership interests in the property to the bank.
According to the property registration documents, Maharashtra Industrial Development Corporation (MIDC) is the owner of the land, which was leased to Siddhivnayak Enterprises. Subsequently, the lease has been transferred to SBI.
An email query has been sent to SBI. The story will be updated if a response is received. Siddhivinayak Enterprises could not be reached for comment.
All about Kharadi and Pune real estate market
Kharadi is one of Pune’s prominent commercial and residential growth corridors, located along the eastern side of the city. The area has emerged as a major office hub, attracting technology companies, IT parks and commercial developments. Its proximity to Pune airport, Nagar Road and key employment centres has supported demand for commercial and residential real estate.
Pune's real estate market is showing early signs of a revival in demand, but the recovery is unfolding amid a growing supply overhang. Housing sales rose 7% year-on-year during the 12 months ended June 2026, marking the city's first annual sales recovery in four years. However, the improvement in demand was outpaced by a surge in new project launches, pushing the value of unsold housing inventory to an all-time high of ₹92,110 crore, according to Gera Developments' Pune Residential Realty Report.
Housing sales in the Pune real estate market increased from 86,666 units in the 12 months ending June 2025 to 92,341 units in the corresponding period ending June 2026. On the other hand, residential launches increased 14% year-on-year to 1,01,085 units from 88,941 units during the same period, the report noted.