As Navin mentioned there were quite a few sites, local ventures and other. I generally found Quikr good enough.

I would estimate that at any time a large number of people have this thought, and quite a few of them are even working on it, and at any given time a number of such sites exist. Unfortunately, none of them really gain any traction, and that is the problem with such sites. You can't buy or sell anything well without enough traffic on the site, and you can't get enough traffic on the site unless users can buy and sell well. Classic chicke-and-egg problem.

If you do a Google Search for Pune Classifieds you'll find a huge number of websites. (And that includes CraigsList itself the big daddy in this space.

I'd still think that your best options are:

• Ebay which is well used, and works well most of the time
• Mailing lists and internal forums in large companies. If you have a friend in Symantec of Infosys, asking them to post internally on your behalf. This works really well.
• Start using twitter, follow a large number of Pune twitterers, and then you can do buying/selling within your twitter group!
• Who knows... in an year, maybe forpune.com will have enough traffic that you can start using this site as a marketplace :-)