.2 min reviewed Final Upgraded: Sep 27 2024|11:56 PM IST.Possession management agency SBI Funds Management has purchased workplace extending 67,870 square foot at Parinee Cresenzo in Mumbai's Bandra-Kurla Complex (BKC) for Rs 103 crore, according to realty records platform Propstack.The firm did certainly not react to a concern from Business Specification. Go here to associate with us on WhatsApp.The deal comes at a time when India's office market is actually seeing considerable demand.A couple of days back, Adar Poonawalla, ceo of Lotion Principle of India as well as owner of Increasing Sunlight Holdings, got the 1st flooring of Cerebrum IT Playground in Pune for Rs 395 crore. According to recent records, ICICI Prudential Resource Control Company got into a sizable office deal near Mumbai International Flight Terminal for Rs 315 crore. In an additional mega package, Kinnteista, investor Rekha Jhunjhunwala's agency, apparently purchased office room in BKC and also Chandivali in Mumbai for Rs 740 crore. Additionally, Red Fox IT Infra, a subsidiary of Redbrick Offices, is learnt to have actually purchased several office in Mumbai in a Rs 260-crore bargain..However, most of the office bargains reside in leasing. Building consultancy Cushman & Wakefield, in a recent document, claimed that renting throughout the top 8 metropolitan areas is actually expected to exceed 80 million straight feet in 2024. This is actually being actually steered by a combo of factors, including the ongoing growth of sectors like IT and also financial services.To name a few, Deloitte Shared Companies rented 80,000 sq ft of office in Oberoi Commerz III, Mumbai, earlier this month. The lease is actually anticipated to start on Nov 1.Morgan Stanley likewise rented 1 million square feet of office in the exact same facility in Mumbai just recently. The yearly rent, crossing a 10-year time frame, is estimated at Rs 192 crore, along with a security deposit of Rs 104.9 crore, depending on to files.In Bengaluru, real estate gamer RMZ Corporation leased 360,000 square foot of office space to Chevron Global Technology and also Companies at RMZ Ecoworld 30-series lately. Chevron is expected to set up an engineering as well as advancement superiority centre within this area.In the very first half of 2024 alone, leasing activity hit 41.9 thousand square feet, exemplifying the highest leasing edition tape-recorded for the initial one-half of any year so far, according to business records. This number make up 56 per-cent of the complete gross leasing volume (GLV) for 2023.1st Published: Sep 27 2024|11:56 PM IST.