.2 min read Final Upgraded: Sep 27 2024|11:56 PM IST.Property management company SBI Finances Administration has purchased office stretching over 67,870 square feet at Parinee Cresenzo in Mumbai's Bandra-Kurla Complex (BKC) for Rs 103 crore, depending on to property records system Propstack.The firm performed certainly not reply to an inquiry from Organization Standard. Go here to associate with our company on WhatsApp.The package comes with a time when India's office market is observing significant need.A couple of days ago, Adar Poonawalla, chief executive officer of Lotion Institute of India as well as manager of Increasing Sunlight Holdings, purchased the initial flooring of Brain IT Park in Pune for Rs 395 crore. Depending on to current documents, ICICI Prudential Asset Control Provider got in a sizable workplace deal near Mumbai International Flight Terminal for Rs 315 crore. In yet another mega bargain, Kinnteista, financier Rekha Jhunjhunwala's firm, reportedly purchased office space in BKC as well as Chandivali in Mumbai for Rs 740 crore. Also, Red Fox IT Infra, a subsidiary of Redbrick Offices, is actually found out to have bought a number of office spaces in Mumbai in a Rs 260-crore deal..Nonetheless, most of the office offers remain in leasing. Building consultancy Cushman & Wakefield, in a latest record, mentioned that leasing throughout the best 8 metropolitan areas is assumed to go over 80 million straight feets in 2024. This is actually being steered by a combination of elements, including the continuing growth of sectors such as IT and economic solutions.To name a few, Deloitte Shared Providers leased 80,000 sq ft of office space in Oberoi Commerz III, Mumbai, previously this month. The lease is expected to begin on Nov 1.Morgan Stanley likewise leased 1 million square feet of workplace in the same facility in Mumbai lately. The annual rent, crossing a 10-year duration, is predicted at Rs 192 crore, with a security deposit of Rs 104.9 crore, depending on to files.In Bengaluru, real estate player RMZ Enterprise rented 360,000 square feet of office space to Chevron Global Modern Technology and Provider at RMZ Ecoworld 30-series just recently. Chevron is actually assumed to set up an engineering and advancement excellence facility within this space.In the initial fifty percent of 2024 alone, leasing task hit 41.9 million square foot, working with the best leasing volume tape-recorded for the 1st one-half of any sort of year thus far, according to field data. This figure represent 56 per cent of the complete gross leasing volume (GLV) for 2023.1st Published: Sep 27 2024|11:56 PM IST.