.2 min read Last Upgraded: Sep 27 2024|11:56 PM IST.Property management agency SBI Funds Administration has actually acquired office spanning 67,870 square foot at Parinee Cresenzo in Mumbai's Bandra-Kurla Complex (BKC) for Rs 103 crore, according to realty data platform Propstack.The company did not reply to a concern from Service Criterion. Click here to connect with us on WhatsApp.The bargain comes with a time when India's workplace market is watching significant demand.A handful of days ago, Adar Poonawalla, chief executive officer of Cream Institute of India and owner of Climbing Sunshine Holdings, acquired the initial flooring of Cerebrum IT Park in Pune for Rs 395 crore. According to latest documents, ICICI Prudential Resource Management Company entered into a big workplace bargain near Mumbai International Airport for Rs 315 crore. In yet another ultra offer, Kinnteista, investor Rekha Jhunjhunwala's organization, supposedly got office room in BKC and also Chandivali in Mumbai for Rs 740 crore. Additionally, Reddish Fox IT Infra, a subsidiary of Redbrick Offices, is discovered to have actually purchased numerous office spaces in Mumbai in a Rs 260-crore offer..Having said that, many of the office packages remain in leasing. Building working as a consultant Cushman & Wakefield, in a latest document, pointed out that renting around the top 8 cities is assumed to go beyond 80 million straight feets in 2024. This is actually being actually driven by a blend of elements, consisting of the ongoing growth of sectors like IT and economic companies.To name a few, Deloitte Shared Solutions leased 80,000 sq ft of workplace in Oberoi Commerz III, Mumbai, previously this month. The lease is actually assumed to begin on Nov 1.Morgan Stanley additionally leased 1 million square foot of office in the exact same complicated in Mumbai recently. The annual lease, crossing a 10-year time period, is determined at Rs 192 crore, along with a security deposit of Rs 104.9 crore, according to reports.In Bengaluru, realty gamer RMZ Corporation leased 360,000 sq ft of workplace to Chevron Global Technology and also Solutions at RMZ Ecoworld 30-series recently. Chevron is anticipated to put together a design and also innovation distinction centre within this room.In the first half of 2024 alone, leasing task reached 41.9 thousand square feet, standing for the best leasing volume videotaped for the very first fifty percent of any sort of year thus far, according to market records. This number represent 56 per-cent of the overall gross leasing quantity (GLV) for 2023.1st Posted: Sep 27 2024|11:56 PM IST.