Co-working space: The office space business is gaining traction among Indian startups
With an aim to reduce business cost and increase productivity, the co-working spaces have become popular between large, medium and small enterprises of India.
With the Indian economy maintaining stable outlook and GDP hovering around 7 per cent plus is set to become the 5th largest economy of the world overtaking the United Kingdom. In the commercial real estate segment with the aim of reducing the cost of business and increasing productivity in India, the co-working spaces have become popular between large, medium and small enterprises. Startups are also gearing up to take advantage of the concept of “co-working office spaces” over the concept of conventional office spaces.
According to real estate services firm CBRE, "The global average utilisation of assigned seats is 60 per cent, excluding vacant seats, while the global average meeting room utilisation is just 30 per cent." The CBRE further adds that the next few years, with office rents continuing to move up across India, the total space leased by co-working operators in tier-1 and tier-2 cities could touch 6-10 m sq. ft. by 2020.
See Zee Business video below:
#ZBizExclusive | देखिए फर्स्ट ग्लोबल के फाउंडर @1shankarsharma के 'दिल की बात' @AnilSinghviZEE के साथ। https://t.co/rWDHA68n0D
— Zee Business (@ZeeBusiness) February 21, 2019
Standing in sync with CBRE views; Shouvik Mandal, CEO at Apeejay Real Estate said, “The co-working space model in India is increasingly becoming popular. To encash on this opportunity, big players from the realty sector are also preparing to bet on this." Business Centers in Chennai, Gururgram, Kolkata, Mumbai, Navi Mumbai, Pune etc. are flooding new co-working space projects that reflect about the future of such real estate segment in coming time.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
11:23 AM IST