NEW DELHI: Coworking firms leased 0.12 million square feet of office space in Gurugram in 2016, comprising 10% of the overall coworking leasing across key cities, and the demand is set to grow further, according to property consultancy Colliers International.
Location such as Sohna Road, Golf Course Road, Sector 44, Sector 29 and Udyog Vihar emerged as the preferred choices for coworking companies.
Among satellite cities of the national capital region (NCR), Gurgaon is the preferred one for coworking players, according to Surabhi Arora, Senior Associate Director, Research at Colliers International India.
“Until recently, only small local players were dominating the market but now a few developers are also planning to experiment the concept which will help the concept to grow at a faster pace. With metro getting operational in the Golf Course Road, we saw keen interest of coworking players in this area,” she said.
Startups, small and medium sized enterprises, e-commerce & media companies, large corporations looking for transitional space requirements were the major coworking space occupiers in Gurugram last year.
The Millennium City also emerged as the second most expensive location just after Mumbai for hiring a coworking space. Average desk cost in central business district (CBD) of Gurugram hovered in the range of Rs 10,000-15,000 and in secondary business district (SBD) at Rs 6,000-12,000.
Office leasing transactions sizes in the city ranged between 15,000 sq ft and 25,000 sq ft.
Colliers expect the concentration of coworking spaces will further intensify in locations with good connectivity and developed social infrastructure.
“Thus, in the medium term both international and domestic players will look to set up in central and suburban districts in the city,” said Arora.
Some of the major coworking players in the region include Regus, 91springboard, Awfis, InstaOffice, iKeva, iShareSpace, AltF, Skootr and Smartworks.
A total of more than 1.2 million sq ft were leased by coworking operators in India in 2016, which accounted for 3% of the overall office leasing volume.
The consultancy estimates coworking operators to lease 8 to 9 million sq ft by 2020.
Currently, more than 160 operators facilitate coworking offices with over 350 operational centres across various Tier I and Tier II cities in India.
(source by:-The Economic Times)