.2 min checked out Final Improved: Sep 27 2024|11:56 PM IST.Asset administration agency SBI Funds Monitoring has actually acquired workplace stretching over 67,870 square feet at Parinee Cresenzo in Mumbai's Bandra-Kurla Complicated (BKC) for Rs 103 crore, depending on to real estate records system Propstack.The firm did certainly not react to an inquiry from Company Standard. Click on this link to associate with our company on WhatsApp.The offer comes at a time when India's workplace market is witnessing considerable need.A couple of times earlier, Adar Poonawalla, chief executive officer of Lotion Institute of India as well as owner of Rising Sunshine Holdings, purchased the 1st flooring of Brain IT Park in Pune for Rs 395 crore. Depending on to current documents, ICICI Prudential Possession Management Company got in a sizable office space package near Mumbai International Flight Terminal for Rs 315 crore. In yet another mega package, Kinnteista, real estate investor Rekha Jhunjhunwala's firm, reportedly bought industrial room in BKC and also Chandivali in Mumbai for Rs 740 crore. Likewise, Reddish Fox IT Infra, a subsidiary of Redbrick Offices, is actually discovered to have actually acquired several office in Mumbai in a Rs 260-crore bargain..Nonetheless, a lot of the workplace packages reside in leasing. Property consultancy Cushman & Wakefield, in a latest report, pointed out that renting throughout the top 8 urban areas is expected to exceed 80 million straight feet in 2024. This is being actually driven by a blend of elements, consisting of the ongoing growth of industries such as IT and economic companies.Among others, Deloitte Shared Solutions rented 80,000 square foot of office in Oberoi Commerz III, Mumbai, previously this month. The lease is assumed to begin on Nov 1.Morgan Stanley additionally leased 1 million sq ft of office in the exact same complicated in Mumbai just recently. The yearly rent, crossing a 10-year period, is determined at Rs 192 crore, along with a down payment of Rs 104.9 crore, depending on to reports.In Bengaluru, real estate player RMZ Corporation rented 360,000 square foot of workplace to Chevron Global Modern Technology and also Services at RMZ Ecoworld 30-series recently. Chevron is expected to set up an engineering and also innovation distinction center within this room.In the 1st half of 2024 alone, leasing activity arrived at 41.9 million sq ft, working with the highest possible leasing edition documented for the 1st fifty percent of any sort of year up until now, depending on to field information. This number make up 56 per-cent of the overall gross leasing volume (GLV) for 2023.First Published: Sep 27 2024|11:56 PM IST.