.2 minutes reviewed Final Updated: Sep 27 2024|11:56 PM IST.Possession administration agency SBI Finances Management has actually bought office extending 67,870 square feet at Parinee Cresenzo in Mumbai's Bandra-Kurla Facility (BKC) for Rs 103 crore, depending on to realty information system Propstack.The firm performed not respond to an inquiry from Company Standard. Visit here to connect with us on WhatsApp.The offer comes with a time when India's office market is actually watching considerable demand.A handful of days back, Adar Poonawalla, ceo of Cream Principle of India and also manager of Climbing Sunshine Holdings, bought the initial flooring of Cerebrum IT Playground in Pune for Rs 395 crore. According to current records, ICICI Prudential Asset Control Firm entered into a sizable workplace package near Mumbai International Airport Terminal for Rs 315 crore. In another mega deal, Kinnteista, client Rekha Jhunjhunwala's company, apparently purchased commercial area in BKC as well as Chandivali in Mumbai for Rs 740 crore. Additionally, Reddish Fox IT Infra, a subsidiary of Redbrick Offices, is discovered to have purchased many workplace in Mumbai in a Rs 260-crore deal..Having said that, most of the workplace packages reside in leasing. Residential or commercial property consultancy Cushman & Wakefield, in a recent report, mentioned that renting around the leading 8 urban areas is anticipated to go beyond 80 million square feet in 2024. This is being driven by a mix of variables, featuring the continued development of sectors including IT and also monetary solutions.And many more, Deloitte Shared Solutions rented 80,000 square foot of office in Oberoi Commerz III, Mumbai, previously this month. The lease is actually anticipated to begin on November 1.Morgan Stanley additionally leased 1 thousand sq ft of office in the exact same complicated in Mumbai just recently. The yearly rental payment, extending over a 10-year duration, is determined at Rs 192 crore, with a security deposit of Rs 104.9 crore, according to files.In Bengaluru, real estate player RMZ Organization rented 360,000 square feet of office space to Chevron Global Technology and also Solutions at RMZ Ecoworld 30-series just recently. Chevron is expected to put together an engineering as well as development distinction centre within this room.In the first half of 2024 alone, leasing activity got to 41.9 thousand square foot, standing for the best leasing volume captured for the 1st fifty percent of any type of year so far, depending on to sector records. This figure make up 56 per cent of the overall gross leasing amount (GLV) for 2023.1st Posted: Sep 27 2024|11:56 PM IST.