.2 min read Final Improved: Sep 27 2024|11:56 PM IST.Asset administration company SBI Dollars Management has actually bought office space stretching over 67,870 sq ft at Parinee Cresenzo in Mumbai's Bandra-Kurla Complicated (BKC) for Rs 103 crore, according to property records system Propstack.The company performed certainly not reply to a question coming from Service Specification. Visit here to connect with us on WhatsApp.The package comes with an opportunity when India's office market is observing substantial demand.A couple of days back, Adar Poonawalla, chief executive officer of Serum Institute of India and also proprietor of Increasing Sunshine Holdings, bought the 1st floor of Brain IT Playground in Pune for Rs 395 crore. According to latest reports, ICICI Prudential Asset Control Company went into a large office space bargain near Mumbai International Flight Terminal for Rs 315 crore. In one more huge offer, Kinnteista, entrepreneur Rekha Jhunjhunwala's agency, apparently bought industrial space 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 acquired many workplace in Mumbai in a Rs 260-crore deal..Nonetheless, most of the office deals reside in leasing. Residential property consultancy Cushman & Wakefield, in a current document, mentioned that renting across the leading eight urban areas is actually assumed to go beyond 80 thousand square feet in 2024. This is actually being driven through a combo of variables, consisting of the continuing development of sectors including IT as well as financial companies.To name a few, Deloitte Shared Providers rented 80,000 sq ft of office in Oberoi Commerz III, Mumbai, previously this month. The lease is actually expected to start on November 1.Morgan Stanley also leased 1 thousand square feet of workplace in the exact same complex in Mumbai lately. The yearly lease, extending over a 10-year period, is estimated at Rs 192 crore, with a down payment of Rs 104.9 crore, depending on to records.In Bengaluru, real estate player RMZ Firm leased 360,000 square foot of office space to Chevron Global Modern Technology and also Companies at RMZ Ecoworld 30-series recently. Chevron is actually expected to establish a design and also advancement quality facility within this room.In the initial half of 2024 alone, leasing activity arrived at 41.9 thousand square feet, working with the highest leasing edition taped for the very first one-half of any sort of year so far, depending on to industry information. This number represent 56 per cent of the total gross leasing quantity (GLV) for 2023.Very First Released: Sep 27 2024|11:56 PM IST.