.2 minutes reviewed Final Upgraded: Sep 27 2024|11:56 PM IST.Asset management company SBI Administration has bought workplace extending 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Complex (BKC) for Rs 103 crore, depending on to property data platform Propstack.The company did certainly not react to a question from Service Specification. Click here to get in touch with our company on WhatsApp.The bargain comes at an opportunity when India's office market is actually experiencing notable demand.A couple of days earlier, Adar Poonawalla, ceo of Lotion Institute of India and also proprietor of Increasing Sunshine Holdings, acquired the initial floor of Cerebrum IT Park in Pune for Rs 395 crore. According to recent files, ICICI Prudential Property Management Provider entered a sizable office bargain near Mumbai International Airport for Rs 315 crore. In another mega offer, Kinnteista, real estate investor Rekha Jhunjhunwala's agency, reportedly purchased industrial area in BKC and also Chandivali in Mumbai for Rs 740 crore. Also, Reddish Fox IT Infra, a subsidiary of Redbrick Workplaces, is discovered to have actually acquired many office in Mumbai in a Rs 260-crore package..Nonetheless, a lot of the office bargains reside in leasing. Building working as a consultant Cushman & Wakefield, in a current report, pointed out that leasing around the leading 8 areas is assumed to surpass 80 thousand square feets in 2024. This is actually being driven through a mix of elements, including the ongoing development of fields including IT and also economic services.To name a few, Deloitte Shared Providers leased 80,000 square feet of office in Oberoi Commerz III, Mumbai, earlier this month. The lease is actually assumed to start on November 1.Morgan Stanley also rented 1 thousand sq ft of office in the exact same complex in Mumbai recently. The annual rental fee, crossing a 10-year time period, is actually determined at Rs 192 crore, with a security deposit of Rs 104.9 crore, according to documents.In Bengaluru, real estate gamer RMZ Company rented 360,000 square feet of workplace to Chevron Global Modern Technology as well as Services at RMZ Ecoworld 30-series just recently. Chevron is actually assumed to put together an engineering as well as innovation quality centre within this area.In the initial half of 2024 alone, leasing task got to 41.9 million sq ft, exemplifying the greatest leasing edition captured for the initial one-half of any type of year thus far, according to business information. This amount represent 56 per cent of the total gross leasing volume (GLV) for 2023.1st Published: Sep 27 2024|11:56 PM IST.