.2 minutes checked out Last Updated: Sep 27 2024|11:56 PM IST.Property management agency SBI Control has actually purchased office space stretching over 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Facility (BKC) for Rs 103 crore, according to real property information platform Propstack.The provider did not react to an inquiry coming from Organization Requirement. Click here to get in touch with our team on WhatsApp.The bargain comes at an opportunity when India's office market is seeing considerable requirement.A handful of days ago, Adar Poonawalla, president of Serum Institute of India and also manager of Rising Sun Holdings, got the initial flooring of Cerebrum IT Park in Pune for Rs 395 crore. According to current reports, ICICI Prudential Property Control Provider entered into a huge office space package near Mumbai International Airport for Rs 315 crore. In an additional huge package, Kinnteista, entrepreneur Rekha Jhunjhunwala's organization, reportedly got office room in BKC and also Chandivali in Mumbai for Rs 740 crore. Likewise, Red Fox IT Infra, a subsidiary of Redbrick Offices, is actually discovered to have actually purchased many office spaces in Mumbai in a Rs 260-crore bargain..However, many of the workplace deals are in leasing. Building consultancy Cushman & Wakefield, in a recent file, mentioned that leasing around the leading 8 urban areas is actually anticipated to surpass 80 million square feets in 2024. This is actually being driven through a combination of variables, including the continued development of sectors like IT and also economic companies.To name a few, Deloitte Shared Providers leased 80,000 sq ft of workplace in Oberoi Commerz III, Mumbai, earlier this month. The lease is assumed to begin on November 1.Morgan Stanley likewise leased 1 million sq ft of workplace in the very same complicated in Mumbai recently. The yearly rental payment, crossing a 10-year duration, is approximated at Rs 192 crore, along with a down payment of Rs 104.9 crore, depending on to documents.In Bengaluru, realty player RMZ Company rented 360,000 square feet of workplace to Chevron Global Modern Technology and also Companies at RMZ Ecoworld 30-series recently. Chevron is actually anticipated to set up a design as well as development superiority facility within this space.In the initial fifty percent of 2024 alone, leasing task reached 41.9 million square feet, exemplifying the highest possible leasing edition tape-recorded for the 1st one-half of any year so far, according to industry records. This body represent 56 percent of the overall gross leasing volume (GLV) for 2023.Very First Released: Sep 27 2024|11:56 PM IST.