.2 min read through Last Upgraded: Sep 27 2024|11:56 PM IST.Property management agency SBI Funds Monitoring has bought workplace stretching over 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Complicated (BKC) for Rs 103 crore, according to realty records platform Propstack.The company did certainly not reply to a query coming from Business Standard. Click on this link to get in touch with our company on WhatsApp.The offer comes at a time when India's workplace market is actually experiencing considerable need.A couple of times ago, Adar Poonawalla, ceo of Cream Principle of India as well as owner of Climbing Sunlight Holdings, purchased the 1st floor of Cerebrum IT Park in Pune for Rs 395 crore. According to current reports, ICICI Prudential Property Monitoring Firm went into a huge workplace offer near Mumbai International Flight Terminal for Rs 315 crore. In an additional huge deal, Kinnteista, real estate investor Rekha Jhunjhunwala's company, apparently purchased business room in BKC and Chandivali in Mumbai for Rs 740 crore. Additionally, Red Fox IT Infra, a subsidiary of Redbrick Workplaces, is actually found out to have bought a number of workplace in Mumbai in a Rs 260-crore offer..Nonetheless, much of the workplace bargains are in leasing. Property working as a consultant Cushman & Wakefield, in a current file, said that renting around the top eight metropolitan areas is actually assumed to go beyond 80 thousand square feet in 2024. This is being steered through a blend of elements, featuring the continuing growth of fields such as IT as well as monetary companies.To name a few, Deloitte Shared Solutions leased 80,000 square feet of office in Oberoi Commerz III, Mumbai, previously this month. The lease is actually assumed to begin on November 1.Morgan Stanley also leased 1 million square feet of office in the same complex in Mumbai recently. The yearly rental payment, crossing a 10-year duration, is actually determined at Rs 192 crore, with a down payment of Rs 104.9 crore, depending on to files.In Bengaluru, realty gamer RMZ Firm rented 360,000 sq ft of office space to Chevron Global Technology and also Solutions at RMZ Ecoworld 30-series lately. Chevron is actually anticipated to establish an engineering as well as advancement superiority center within this room.In the first one-half of 2024 alone, leasing activity got to 41.9 thousand sq ft, standing for the greatest leasing edition tape-recorded for the very first half of any year until now, depending on to sector data. This figure make up 56 percent of the complete gross leasing amount (GLV) for 2023.Initial Released: Sep 27 2024|11:56 PM IST.