.2 min read Final Improved: Sep 27 2024|11:56 PM IST.Property control company SBI Funds Management has actually purchased workplace covering 67,870 square feet at Parinee Cresenzo in Mumbai's Bandra-Kurla Facility (BKC) for Rs 103 crore, according to property information system Propstack.The provider did certainly not reply to an inquiry coming from Company Specification. Visit here to associate with our team on WhatsApp.The bargain comes at a time when India's office market is actually seeing substantial requirement.A handful of days earlier, Adar Poonawalla, ceo of Product Principle of India and also owner of Rising Sunshine Holdings, acquired the very first flooring of Cerebrum IT Park in Pune for Rs 395 crore. According to recent documents, ICICI Prudential Resource Management Firm entered a sizable office space package near Mumbai International Flight Terminal for Rs 315 crore. In yet another ultra package, Kinnteista, client Rekha Jhunjhunwala's company, apparently bought industrial area in BKC and also Chandivali in Mumbai for Rs 740 crore. Additionally, Reddish Fox IT Infra, a subsidiary of Redbrick Workplaces, is actually discovered to have acquired numerous office in Mumbai in a Rs 260-crore deal..Nonetheless, a number of the office packages remain in leasing. Home consultancy Cushman & Wakefield, in a current document, claimed that leasing throughout the top eight areas is actually expected to exceed 80 million square feets in 2024. This is actually being driven by a combo of variables, featuring the ongoing growth of fields including IT and also monetary solutions.Among others, Deloitte Shared Services rented 80,000 square foot of workplace in Oberoi Commerz III, Mumbai, earlier this month. The lease is expected to begin on November 1.Morgan Stanley also leased 1 million square foot of workplace in the very same complicated in Mumbai recently. The yearly rental payment, extending over a 10-year time period, is determined at Rs 192 crore, along with a security deposit of Rs 104.9 crore, according to documents.In Bengaluru, realty player RMZ Corporation leased 360,000 square feet of office space to Chevron Global Technology and Solutions at RMZ Ecoworld 30-series lately. Chevron is assumed to set up an engineering and advancement superiority centre within this space.In the initial fifty percent of 2024 alone, leasing activity hit 41.9 thousand sq ft, representing the best leasing edition captured for the 1st one-half of any year thus far, according to sector data. This body make up 56 per cent of the complete gross leasing quantity (GLV) for 2023.Very First Published: Sep 27 2024|11:56 PM IST.