As Indian commercial space is reviving currently, co-working spaces, which has attracted many in the west is gaining momentum in India. A lot of start-ups and small businesses are now trying to rent a co-working space to reduce cost.
WHAT IS A COWORKING SPACE?
As the name suggests, co-working space is an office area where more than one organization work in a shared space or floor. The difference between a conventional office area and a shared office is that in a conventional office area a certain amount of space is allocated to only a particular organization. Apart from that, unlike in a conventional office area, a shared space provides its members' flexibility of space
and desk as per a requirement. The logistical amenities are taken care of by the service provider.
THE TRENDS
As mentioned the space provider will be happy about the current scenario as there is an upward trend in hiring coworking spaces. According to the data released by a popular consultancy firm, there are approximately more than 600 shared working spaces with almost two lakhs seats across the country. It covers a total area of around 13 million square feet. The price varies according to the seat. As per as the reports in various newspapers, a usual seat will cost around INR 5,000 and a premium seat around INR 35,000. It is being estimated by the professionals that most of the major players or space takers are the small corporation and start-ups. However big firms also
form a considerable part of space takers. The experts have calculated an addition of another seven million square feet by a year or two. The current hotspots for co-working spaces are Delhi-NCR, Mumbai and Bengaluru followed by Pune and Kolkata. As per as various research groups, the sudden hike in interest rides on the back of perks and hassle-free operations.
THE REASON
The environment
The usual 9 to 5 work hours is a stress for a lot of people. A thriving environment with flexible shift timings is the biggest reason for this rapid expansion of shared work spaces. They not only relax an employee but also help to create a symbiotic professional relationship. The diverse relationship helps to create a stable work equation among the employers and also facilities collaboration with free thinkers.
Part of a large community
As a lot of different people sit and work together, they shared opinions which help in broadening of perspective. The vibrancy in the co-web of ideas helps to create an ecosystem of ideas and innovations. It also helps a worker to adjust to the changing dimensions of modern work space and work-world.
The travelling business
Most of the firms have their clients located in different places across the country. It is difficult for them toset a branch office at every point. Such working spaces come in handy. It also cuts down cost and sets up an appeal in front of the clients.
A boon for freelancers
A lot of these space takers are freelancers. Unable to find a place for them at an affordable price, this is a boon for them. These co-working spaces have low-security deposits and minimal maintenance. Not only it is affordable but also gives them enough space for holding the conference as per as their convenience not on the availability. They can also be customized according to the needs. Thus in all regards, a co-working space a definite reason for an upward trend in growth in coming years.