.2 min went through Last Updated: Sep 27 2024|11:56 PM IST.Property monitoring firm SBI Finances Monitoring has bought office space covering 67,870 square feet at Parinee Cresenzo in Mumbai's Bandra-Kurla Facility (BKC) for Rs 103 crore, according to real estate data system Propstack.The firm performed certainly not reply to a query coming from Organization Criterion. Visit here to get in touch with our team on WhatsApp.The deal comes with an opportunity when India's workplace market is experiencing substantial need.A handful of times back, Adar Poonawalla, president of Lotion Principle of India as well as proprietor of Rising Sunlight Holdings, purchased the 1st floor of Brain IT Playground in Pune for Rs 395 crore. Depending on to latest records, ICICI Prudential Resource Control Company got in a huge office bargain near Mumbai International Airport Terminal for Rs 315 crore. In another mega deal, Kinnteista, entrepreneur Rekha Jhunjhunwala's firm, reportedly bought commercial space in BKC and Chandivali in Mumbai for Rs 740 crore. Additionally, Red Fox IT Infra, a subsidiary of Redbrick Offices, is actually found out to have actually purchased many office spaces in Mumbai in a Rs 260-crore bargain..Having said that, a lot of the workplace offers remain in leasing. Home consultancy Cushman & Wakefield, in a current report, said that renting throughout the top eight urban areas is actually expected to surpass 80 million straight feet in 2024. This is actually being driven through a mix of factors, featuring the continued growth of fields like IT and economic companies.To name a few, Deloitte Shared Services leased 80,000 square foot of office space in Oberoi Commerz III, Mumbai, earlier this month. The lease is assumed to begin on November 1.Morgan Stanley likewise rented 1 thousand sq ft of office space in the same facility in Mumbai just recently. The annual rent, crossing a 10-year time period, is approximated at Rs 192 crore, along with a security deposit of Rs 104.9 crore, according to reports.In Bengaluru, real estate player RMZ Organization rented 360,000 sq ft of office space to Chevron Global Modern Technology as well as Solutions at RMZ Ecoworld 30-series recently. Chevron is actually expected to establish a design and innovation excellence centre within this space.In the initial fifty percent of 2024 alone, leasing task arrived at 41.9 thousand square foot, working with the best leasing volume videotaped for the initial one-half of any kind of year so far, according to field data. This body represent 56 percent of the total gross leasing volume (GLV) for 2023.Very First Released: Sep 27 2024|11:56 PM IST.