.2 minutes read through Final Improved: Sep 27 2024|11:56 PM IST.Property control company SBI Dollars Management has actually purchased workplace stretching over 67,870 square foot at Parinee Cresenzo in Mumbai's Bandra-Kurla Complicated (BKC) for Rs 103 crore, according to property information system Propstack.The company did certainly not respond to a concern from Company Specification. Go here to connect with our company on WhatsApp.The offer comes at a time when India's office market is experiencing substantial need.A few days earlier, Adar Poonawalla, president of Lotion Institute of India and proprietor of Climbing Sunlight Holdings, got the first flooring of Cerebrum IT Playground in Pune for Rs 395 crore. According to latest documents, ICICI Prudential Possession Administration Provider got into a sizable office space bargain near Mumbai International Airport for Rs 315 crore. In another ultra package, Kinnteista, capitalist Rekha Jhunjhunwala's firm, apparently acquired commercial room in BKC and also Chandivali in Mumbai for Rs 740 crore. Also, Reddish Fox IT Infra, a subsidiary of Redbrick Offices, is actually discovered to have actually purchased several office in Mumbai in a Rs 260-crore bargain..Nonetheless, much of the office packages are in leasing. Residential or commercial property consultancy Cushman & Wakefield, in a recent report, pointed out that leasing across the top eight metropolitan areas is anticipated to exceed 80 thousand straight feets in 2024. This is being driven through a blend of elements, including the continuous growth of industries like IT and economic services.Among others, Deloitte Shared Services rented 80,000 sq ft of workplace in Oberoi Commerz III, Mumbai, earlier this month. The lease is actually assumed to begin on November 1.Morgan Stanley additionally rented 1 thousand square feet of office in the very same facility in Mumbai lately. The yearly lease, crossing a 10-year period, is actually predicted at Rs 192 crore, with a down payment of Rs 104.9 crore, according to reports.In Bengaluru, real estate player RMZ Enterprise rented 360,000 sq ft of office to Chevron Global Innovation and also Provider at RMZ Ecoworld 30-series lately. Chevron is expected to set up a design as well as technology superiority facility within this area.In the very first fifty percent of 2024 alone, leasing activity reached 41.9 million sq ft, representing the highest leasing edition tape-recorded for the initial one-half of any sort of year up until now, according to business data. This number make up 56 per cent of the complete gross leasing amount (GLV) for 2023.Initial Posted: Sep 27 2024|11:56 PM IST.