.2 min read Last Improved: Sep 27 2024|11:56 PM IST.Asset management agency SBI Funds Monitoring has actually bought office space reaching 67,870 square foot at Parinee Cresenzo in Mumbai's Bandra-Kurla Facility (BKC) for Rs 103 crore, according to real estate records system Propstack.The company performed not react to a concern coming from Organization Requirement. Click on this link to connect with our company on WhatsApp.The offer comes at a time when India's office market is seeing significant requirement.A couple of times earlier, Adar Poonawalla, chief executive officer of Serum Institute of India and manager of Rising Sun Holdings, got the 1st flooring of Brain IT Park in Pune for Rs 395 crore. Depending on to current files, ICICI Prudential Possession Management Provider got into a big office space package near Mumbai International Flight Terminal for Rs 315 crore. In another ultra bargain, Kinnteista, capitalist Rekha Jhunjhunwala's firm, reportedly bought office area in BKC as well as Chandivali in Mumbai for Rs 740 crore. Also, Red Fox IT Infra, a subsidiary of Redbrick Offices, is found out to have actually purchased several office spaces in Mumbai in a Rs 260-crore package..Having said that, much of the workplace offers are in leasing. Home working as a consultant Cushman & Wakefield, in a current document, said that leasing across the best eight areas is assumed to surpass 80 thousand square feets in 2024. This is being actually driven by a mixture of elements, including the ongoing development of sectors such as IT and also economic solutions.To name a few, Deloitte Shared Providers rented 80,000 square foot of workplace in Oberoi Commerz III, Mumbai, earlier this month. The lease is anticipated to begin on November 1.Morgan Stanley additionally leased 1 thousand sq ft of office space in the same facility in Mumbai recently. The yearly rent, extending over a 10-year duration, is predicted at Rs 192 crore, with a down payment of Rs 104.9 crore, according to documents.In Bengaluru, real estate gamer RMZ Enterprise leased 360,000 square foot of workplace to Chevron Global Modern Technology and Companies at RMZ Ecoworld 30-series just recently. Chevron is actually anticipated to set up a design as well as technology quality center within this area.In the 1st one-half of 2024 alone, leasing activity reached 41.9 thousand square foot, standing for the highest leasing edition documented for the 1st fifty percent of any type of year until now, according to business records. This figure represent 56 per cent of the complete gross leasing amount (GLV) for 2023.Initial Published: Sep 27 2024|11:56 PM IST.