Pune is referred to as the 'Cultural Capital of Maharashtra'. Here's a quick historical perspective.

I think the tradition really started during the Peshwa Era, when Pune was the capital of the Maratha Empire. Artists, Poets, Writers, Scholars, Craftsmen from not just Maharashtra, but all over India came here during the 18th century. The first half of 19th century saw a big decline (after the British came to power), and it took close to 100 years for Pune to gain back its cultural prominence.

The political and social reform movements (which also had an influence on the cultural movement) also gained a strong foothold in the 19th century, thanks to leaders like Ranade, Phule, Tilak, Agarkar and Gokhale. Tilak helped start prominent public cultural festivals like the 10 Day Ganpati Festival and Shivjayanti.

The Marathi theater movement became active at the beginning of the 20th century, led by great artists like Ram Ganesh Gadkari and Bal Gandharva. One of the pioneers of the Indian Film Industry, Prabhat Studio started here in the 1930s. Pune has also been at forefront of Indian Classical Music and hosts the prestigious Sawai Gandharva Festival (see Navin's response above) for over 50 years, led by the great Bhimsen Joshi.

Pune has also been a leading center of Education - home to some of the early colleges established in British India - Deccan College, Fergusson College and College of Engineering Pune. Various cultural, social sciences research organizations have also been established here, like the Bhandarkar Institute, as well as the Raja Kelkar Museum. (For a comprehensive list of educational and research institutes in Pune - see this blogpost: https://aparanjape.wordpress.com/2010/04/05/research-institutions-in-pune/ )

I have already mentioned Ram Ganesh Gadkari. Pune has also been home to great Marathi writers like Acharya Atre and Pu La Deshpande.

One more aspect of 'culture' is sports and sporting tradition. Pune has had a strong sports culture for over 100 years. Institutions like the Deccan Gymkhana (established in 1906) and others have helped nurture this tradition.

Over the past few decades, Pune witnessed a huge growth in industry (Automotive and IT being the leading sectors). These industries, as well as other patrons have played a role in supporting various cultural activities and programs.

Today, Pune is seeing a very high growth and is transforming itself into a cosmopolitan metro. People from all parts of the country are moving here. Pune is also witnessing a large influx of foreign students, international visitors and expats.

The city seems to be doing a good job of maintaining a nice mix of the traditional and new culture.

All regions have a set of culture,traditions and values. However, I think that Pune closely resembles Madras (in a positive way). People in both the cities are (somewhat fanatically) interested in all things they call their own.

Pune is culturally special because of its people!

-> Punekars take active interest and continue to be a part of the culture. As pointed out about the Sawai Gandharva festival, its heartening to see huge crowds turning up who might otherwise be pubbing in HRC.

-> Inspite of being the epicenter of Maratha kingdom, it is not the capital of MH. So, there is no mindless expansion of the city, helping it (still!) to retain its culture/traditions.

I think that the days of talking of Puneri culture in terms of the 'peths' are gone. Pune is now a much more cosmopolitan city. It attracts so many people from all round the world; there are thousands of Iranians, Afghans and Africans in Pune. This, in my opinion, is what makes Pune culturally special...

A lot of the culture can also be attributed to the Marathi theater/drama and the significant presence and influence of writers/authors.

Pune has a tradition in the dramatic arts, and that has influenced Maharashtrian culture to a large extent. The 'Purushottam Karandak' a collegiate drama competition has consistently produced the finest stage actors and directors over the years.

Many renowned writers have called Pune home. Individuals like P.L.Deshpande (PuLa), Shivaji Savant and others have significantly influenced Maharasthrian culture through their writing.

Actually the 58th Sawai Gandharva Mahotsav starts today. I will be live blogging from there at http://indianclassicalmusicandbansuri.blogspot.com/

Pune is very lively when it comes to Hindustani Classical Music and Dance. While there are major festivals like Sawai Gandharva Mahotsav, a lot of concerts featuring famous and budding artists take place regularly, most of which are free. Pune Sakal is the best source of information about such concerts. Every week-end (and many times even on week-days) there are multiple concerts to choose from.

Pune also has a lot of reputed teachers (gurus) when it comes to classical music and dance. It is a great place to learn these arts.

Many Western music concerts also take place in Pune. I recommend taking a look at http://www.poonamusicsociety.com.

I think Pune is (or should I say "used to be"?) cultured in the same sense as Lucknow. It's not literally about cultural events and places, it's more about the 'sabhyata' of the average Punekar -- which of course is influenced by culture in its literal sense.