.2 minutes reviewed Final Improved: Sep 27 2024|11:56 PM IST.Property management firm SBI Monitoring has actually purchased office space spanning 67,870 square feet at Parinee Cresenzo in Mumbai's Bandra-Kurla Complicated (BKC) for Rs 103 crore, according to property data system Propstack.The provider did not react to an inquiry coming from Business Specification. Click on this link to get in touch with us on WhatsApp.The offer comes at an opportunity when India's office market is actually observing significant demand.A few times earlier, Adar Poonawalla, chief executive officer of Serum Principle of India and also proprietor of Increasing Sunshine Holdings, acquired the very first floor of Cerebrum IT Park in Pune for Rs 395 crore. Depending on to latest records, ICICI Prudential Property Management Firm went into a sizable workplace package near Mumbai International Airport for Rs 315 crore. In yet another mega deal, Kinnteista, entrepreneur Rekha Jhunjhunwala's agency, apparently got industrial room in BKC and also Chandivali in Mumbai for Rs 740 crore. Additionally, Reddish Fox IT Infra, a subsidiary of Redbrick Workplaces, is actually learnt to have purchased several office spaces in Mumbai in a Rs 260-crore deal..Nonetheless, most of the office packages are in leasing. Building working as a consultant Cushman & Wakefield, in a latest report, pointed out that renting all over the best eight urban areas is expected to go over 80 thousand square feet in 2024. This is actually being driven through a mixture of factors, consisting of the continuing growth of markets like IT and monetary solutions.And many more, Deloitte Shared Companies rented 80,000 sq ft of workplace in Oberoi Commerz III, Mumbai, earlier this month. The lease is actually assumed to begin on Nov 1.Morgan Stanley likewise rented 1 million sq ft of office space in the very same complex in Mumbai recently. The yearly lease, extending over a 10-year duration, is actually estimated at Rs 192 crore, with a security deposit of Rs 104.9 crore, according to files.In Bengaluru, real estate gamer RMZ Organization rented 360,000 sq ft of office to Chevron Global Technology and Services at RMZ Ecoworld 30-series just recently. Chevron is actually anticipated to establish a design as well as innovation distinction facility within this room.In the very first half of 2024 alone, leasing activity reached 41.9 million sq ft, exemplifying the highest possible leasing volume captured for the very first one-half of any sort of year so far, depending on to business information. This number make up 56 per cent of the total gross leasing quantity (GLV) for 2023.Initial Published: Sep 27 2024|11:56 PM IST.