.2 minutes read Final Improved: Sep 27 2024|11:56 PM IST.Property management firm SBI Management has actually purchased office space extending 67,870 square foot at Parinee Cresenzo in Mumbai's Bandra-Kurla Complicated (BKC) for Rs 103 crore, according to realty records platform Propstack.The firm performed certainly not respond to a concern coming from Service Standard. Click on this link to connect with us on WhatsApp.The deal comes at an opportunity when India's office market is observing significant need.A couple of days back, Adar Poonawalla, ceo of Serum Principle of India and proprietor of Climbing Sunshine Holdings, purchased the first flooring of Cerebrum IT Park in Pune for Rs 395 crore. Depending on to current reports, ICICI Prudential Property Administration Firm got into a sizable workplace offer near Mumbai International Flight Terminal for Rs 315 crore. In an additional huge deal, Kinnteista, client Rekha Jhunjhunwala's firm, supposedly acquired business 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 several workplace in Mumbai in a Rs 260-crore package..However, much of the workplace packages remain in leasing. Property working as a consultant Cushman & Wakefield, in a current record, claimed that leasing around the top eight metropolitan areas is expected to go over 80 million straight feet in 2024. This is actually being actually driven by a blend of aspects, including the continuous growth of sectors like IT and also financial services.To name a few, Deloitte Shared Solutions leased 80,000 square foot of office in Oberoi Commerz III, Mumbai, previously this month. The lease is expected to start on November 1.Morgan Stanley additionally leased 1 thousand sq ft of office in the exact same complicated in Mumbai just recently. The yearly lease, extending over a 10-year time frame, is actually estimated at Rs 192 crore, along with a security deposit of Rs 104.9 crore, according to files.In Bengaluru, real estate player RMZ Firm rented 360,000 square feet of office to Chevron Global Modern Technology and also Companies at RMZ Ecoworld 30-series just recently. Chevron is anticipated to put together an engineering as well as advancement excellence centre within this room.In the 1st one-half of 2024 alone, leasing task arrived at 41.9 thousand square foot, working with the highest possible leasing edition tape-recorded for the initial half of any year so far, according to industry records. This number accounts for 56 percent of the total gross leasing amount (GLV) for 2023.Very First Released: Sep 27 2024|11:56 PM IST.