.2 minutes read Last Updated: Sep 27 2024|11:56 PM IST.Property management company SBI Funds Management has actually bought office covering 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Complex (BKC) for Rs 103 crore, according to property data system Propstack.The provider carried out certainly not respond to a question from Organization Standard. Visit this site to get in touch with our company on WhatsApp.The deal comes with an opportunity when India's workplace market is actually seeing significant demand.A few times ago, Adar Poonawalla, ceo of Lotion Principle of India and also manager of Increasing Sunshine Holdings, got the initial flooring of Cerebrum IT Playground in Pune for Rs 395 crore. According to recent files, ICICI Prudential Property Administration Firm got in a sizable workplace offer near Mumbai International Airport for Rs 315 crore. In one more huge bargain, Kinnteista, financier Rekha Jhunjhunwala's agency, apparently acquired commercial room in BKC and also Chandivali in Mumbai for Rs 740 crore. Likewise, Red Fox IT Infra, a subsidiary of Redbrick Offices, is found out to have bought many workplace in Mumbai in a Rs 260-crore offer..Nevertheless, much of the workplace bargains are in leasing. Property consultancy Cushman & Wakefield, in a current report, stated that renting across the leading 8 cities is actually assumed to go over 80 thousand straight feet in 2024. This is actually being steered by a blend of factors, featuring the ongoing growth of sectors including IT and also economic solutions.Among others, Deloitte Shared Providers rented 80,000 square foot of workplace in Oberoi Commerz III, Mumbai, previously this month. The lease is assumed to start on Nov 1.Morgan Stanley also leased 1 million square foot of workplace in the very same facility in Mumbai lately. The yearly rental fee, crossing a 10-year duration, is actually predicted at Rs 192 crore, with a down payment of Rs 104.9 crore, according to documents.In Bengaluru, real estate player RMZ Firm leased 360,000 square feet of office space to Chevron Global Innovation and also Provider at RMZ Ecoworld 30-series lately. Chevron is actually anticipated to set up an engineering and also development excellence centre within this room.In the 1st fifty percent of 2024 alone, leasing activity hit 41.9 thousand square foot, embodying the highest possible leasing edition taped for the 1st half of any kind of year up until now, depending on to field records. This figure make up 56 percent of the complete gross leasing volume (GLV) for 2023.Very First Posted: Sep 27 2024|11:56 PM IST.