.2 minutes checked out Final Updated: Sep 27 2024|11:56 PM IST.Resource management company SBI Funds Management has actually bought office spanning 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Facility (BKC) for Rs 103 crore, according to realty data platform Propstack.The business did not respond to an inquiry from Service Specification. Go here to connect with our team on WhatsApp.The deal comes at a time when India's office market is observing substantial requirement.A couple of days earlier, Adar Poonawalla, president of Serum Institute of India and manager of Increasing Sunshine Holdings, acquired the initial flooring of Cerebrum IT Park in Pune for Rs 395 crore. According to current records, ICICI Prudential Resource Control Firm entered a large workplace bargain near Mumbai International Flight Terminal for Rs 315 crore. In another huge package, Kinnteista, client Rekha Jhunjhunwala's agency, supposedly purchased industrial area in BKC and also Chandivali in Mumbai for Rs 740 crore. Also, Red Fox IT Infra, a subsidiary of Redbrick Workplaces, is actually learnt to have acquired many workplace in Mumbai in a Rs 260-crore offer..Nevertheless, much of the office packages remain in leasing. Home working as a consultant Cushman & Wakefield, in a latest document, stated that renting throughout the best 8 metropolitan areas is anticipated to go beyond 80 thousand straight feets in 2024. This is being actually driven through a mixture of elements, featuring the ongoing development of fields including IT and also financial companies.Among others, Deloitte Shared Services rented 80,000 sq ft of office space in Oberoi Commerz III, Mumbai, previously this month. The lease is expected to begin on Nov 1.Morgan Stanley likewise leased 1 thousand square feet of workplace in the exact same complex in Mumbai lately. The annual rent, crossing a 10-year time frame, is actually predicted at Rs 192 crore, with a down payment of Rs 104.9 crore, according to documents.In Bengaluru, real estate gamer RMZ Enterprise leased 360,000 square feet of workplace to Chevron Global Innovation and also Solutions at RMZ Ecoworld 30-series recently. Chevron is assumed to set up a design as well as innovation distinction center within this space.In the very first fifty percent of 2024 alone, leasing activity arrived at 41.9 thousand sq ft, exemplifying the highest possible leasing volume recorded for the initial one-half of any year up until now, according to industry information. This amount accounts for 56 per cent of the total gross leasing quantity (GLV) for 2023.Very First Posted: Sep 27 2024|11:56 PM IST.