The concept of co-working spaces is picking up in India. According to many surveys and reports, this idea is the new office trend and its impact on the real estate sector, especially commercial, has also been felt tremendously.
Co-working spaces are basically common shared spaces where all the office amenities and infrastructures are shared and maintained by someone else.
According to Abhishek Kumar Gupta, Co-Founder, Let’s Work. “Co-working space is more than a premise where unlike and like-minded people share a common working infrastructure. The basic idea is – work, connect, grow and let the other aspects get automated”,
Let’s Work is a new co-working office space in Noida which was inaugurated on 7th April 2018
Let’s have a brief look at how Co-working spaces are evolving the commercial real estate market:
Co-Working spaces and Costs
With commercial real Estate prices going on top of the roof, it becomes difficult for a medium scale business to set up shop in a good location. Moreover leasing and renting have their own problems and issues. Also, the maintenance is a big issue and companies find it difficult to properly maintain their property. Co-working spaces are the answer to this problem as everything is taken care by a third party, which makes it easier and more reasonable for small and medium-size business.
Co-working spaces are evolved office spaces
In this dynamic business world, change is a constant, many start-ups cannot afford traditional office spaces and thus co-working spaces are the best alternative. Even for established companies, it makes financial sense to have a shared office space, so that they can minimize cost and maximize output and profit.
Co-working spaces and the property market
Commercial office space is evolving in our country. And co-working spaces are in great in demand for their low cost and maintenance. Co-working spaces are definitely the future with start-up’s and entrepreneurs along with small business can afford an office space in a good posh locality while not having to feel the crunch of financials.
Co-working spaces are definitely the future of the Commercial Real Estate in Indian Metros and the trend is also spreading to Tier 2 and 3 cities.
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