.2 min read through Last Updated: Sep 27 2024|11:56 PM IST.Possession management company SBI Funds Monitoring has acquired office space covering 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Complex (BKC) for Rs 103 crore, according to real property data platform Propstack.The company performed not respond to a query coming from Company Requirement. Visit this site to get in touch with us on WhatsApp.The offer comes at an opportunity when India's workplace market is observing significant need.A couple of times earlier, Adar Poonawalla, president of Product Institute of India and manager of Rising Sunlight Holdings, bought the first flooring of Brain IT Park in Pune for Rs 395 crore. According to current documents, ICICI Prudential Possession Management Business entered into a huge office offer near Mumbai International Airport for Rs 315 crore. In one more mega offer, Kinnteista, investor Rekha Jhunjhunwala's agency, reportedly acquired commercial area in BKC as well as Chandivali in Mumbai for Rs 740 crore. Also, Reddish Fox IT Infra, a subsidiary of Redbrick Offices, is know to have actually acquired numerous office spaces in Mumbai in a Rs 260-crore deal..Nevertheless, a number of the workplace deals are in leasing. Property consultancy Cushman & Wakefield, in a latest document, stated that renting all over the top eight metropolitan areas is expected to go over 80 million straight feet in 2024. This is being actually driven through a combo of elements, featuring the continuing growth of markets like IT as well as economic solutions.To name a few, Deloitte Shared Solutions rented 80,000 square feet of workplace in Oberoi Commerz III, Mumbai, previously this month. The lease is actually expected to begin on Nov 1.Morgan Stanley additionally leased 1 thousand sq ft of office space in the same facility in Mumbai recently. The annual rental payment, crossing a 10-year duration, is actually estimated at Rs 192 crore, along with a down payment of Rs 104.9 crore, according to files.In Bengaluru, realty player RMZ Enterprise leased 360,000 square foot of office to Chevron Global Technology and also Services at RMZ Ecoworld 30-series recently. Chevron is actually anticipated to set up a design as well as advancement superiority centre within this space.In the very first one-half of 2024 alone, leasing task arrived at 41.9 million square foot, exemplifying the greatest leasing edition tape-recorded for the very first fifty percent of any kind of year thus far, depending on to sector data. This amount represent 56 per-cent of the complete gross leasing quantity (GLV) for 2023.1st Posted: Sep 27 2024|11:56 PM IST.