.2 min read through Last Upgraded: Sep 27 2024|11:56 PM IST.Resource control organization SBI Monitoring has 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 records system Propstack.The company performed certainly not react to a concern from Company Specification. Visit here to associate with our company on WhatsApp.The bargain comes at a time when India's workplace market is observing substantial need.A couple of times ago, Adar Poonawalla, chief executive officer of Lotion Principle of India as well as owner of Rising Sunlight Holdings, bought the initial flooring of Cerebrum IT Park in Pune for Rs 395 crore. Depending on to current reports, ICICI Prudential Asset Management Company went into a huge workplace bargain near Mumbai International Flight Terminal for Rs 315 crore. In one more huge bargain, Kinnteista, investor Rekha Jhunjhunwala's firm, apparently got office space in BKC and also Chandivali in Mumbai for Rs 740 crore. Additionally, Reddish Fox IT Infra, a subsidiary of Redbrick Offices, is actually learnt to have actually bought several workplace in Mumbai in a Rs 260-crore package..Having said that, most of the workplace bargains reside in leasing. Residential property consultancy Cushman & Wakefield, in a recent document, said that renting throughout the top 8 metropolitan areas is actually anticipated to go beyond 80 million square feets in 2024. This is being steered through a mix of aspects, including the continuous growth of fields such as IT and also monetary services.Among others, Deloitte Shared Solutions rented 80,000 square foot of office space in Oberoi Commerz III, Mumbai, previously this month. The lease is actually assumed to begin on Nov 1.Morgan Stanley also leased 1 million square feet of office space in the very same complex in Mumbai just recently. The yearly rental payment, extending over a 10-year time frame, is actually determined at Rs 192 crore, with a down payment of Rs 104.9 crore, depending on to records.In Bengaluru, realty gamer RMZ Corporation leased 360,000 square feet of office space to Chevron Global Innovation and Provider at RMZ Ecoworld 30-series just recently. Chevron is actually expected to establish an engineering and also advancement quality facility within this space.In the very first half of 2024 alone, leasing activity got to 41.9 thousand square feet, representing the best leasing volume taped for the 1st half of any year thus far, according to industry information. This amount represent 56 percent of the complete gross leasing amount (GLV) for 2023.Initial Posted: Sep 27 2024|11:56 PM IST.