Why Demand For Coworking Spaces Continues To Grow In Delhi NCR

Top 4 Reasons Why Demand For Coworking Spaces Continues To Grow In Delhi NCR

by | posted in: Coworking in South Delhi | 0

A recent real estate report showed that as the COVID numbers fell, interest in Coworking spaces grew. Delhi NCR was one of the main cities where this trend has been noted. 

According to a recent real estate report the gross absorption of office space in the third quarter of 2020 stood at 3.6 million square feet and grew to 4.7 million square feet within a year. It’s been growing ever since and from small start-ups to established multinationals, everyone is weighing the pros and cons of leasing desk space vs an entire office. Let’s take a look at some of the factors contributing to this growing demand for Coworking in Delhi. 

4 Reasons Why Demand For Coworking Spaces Continues To Grow In Delhi-NCR

Delhi NCR Is India’s Startup Capital

The entrepreneurial spirit is booming in India and there are over 61,400 recognized startups. Of these, over 5000 startups were founded in Delhi NCR between April 2019 and December 2021. Some of the most well-known Indian startups like Zomato, Swiggy, Paytm and Policybazaar are headquartered in Delhi NCR. With the government pushing a ‘Make in India’ philosophy, the number of startups in India will only continue to increase.

A tight budget is a factor common to most startups. Irrespective of the number of investors an entrepreneur may have, startups are constantly looking for ways to lower their operational costs. Leasing out independent offices is often out of the question. 

But, by choosing a Coworking office space in Delhi, they can give their team a professional space to work out of at an affordable cost. The ability to lease out individual desks also makes Coworking spaces ideal for startups with growing teams. 

High Rental Cost For Office Space In Delhi

Delhi is among the most expensive cities in India to rent an office. Surprisingly, an office in Connaught Place is more expensive than having an office in San Francisco! 

It’s not just startups that can no longer afford offices in Delhi’s Central Business District or Secondary Business Districts but larger firms too are having to rethink and prioritize their expenditures. At the same time, as any entrepreneur will attest, the address on a visiting card does influence the value of a business. 

Coworking in NCR seems the ideal solution to this issue. The cost of leasing out a desk at a Coworking unit in Noida, Gurgaon, Saket or Mohan Cooperative Area, etc. is quite budget-friendly. Another reason for the growing Coworking space demand in these areas is because Coworking offices are more likely to be on main roads and accessible from metro stations. Even if an entrepreneur could afford an office in Saket, it would probably be on a side road and parking may be a problem. Thus, startups are more likely to make a favourable impression on clients visiting them in a Coworking space.

Delhi Was Badly Hit By COVID And Companies Are Shifting To A Hybrid Work Arrangement

While COVID has affected every part of the country, Delhi NCR was one of the worst-hit. While a lot was written in newspapers about personal losses, businesses faced tough times too. The lockdown made everyone rethink the way they operated as well as operational costs. Work from home proved a good stop-gap arrangement but not a feasible long-term solution. A growing number of companies are moving towards adopting a hybrid work arrangement. This allows only those employees who have critical work in the office to come in. Everyone else can continue to work remotely from satellite offices.  A Coworking space in Delhi is ideal for such arrangements. 

Flexibility is one of the biggest drivers of Coworking space demand in light of hybrid work arrangements. Companies can choose to rent a workspace for as few as a couple of hours or as long as they need. They can rent out a single desk or ten. Thus, there’s adequate space for everyone on the team. 

Commuting Is Difficult And Coworking Helps Retain Talent

When it comes to commuting in Delhi, the traffic is notorious. Traveling by the Metro is a better idea but during peak office hours, finding a foothold can be a challenge. With COVID still around, there’s also a safety aspect that makes people hesitate before getting onto the Metro. As a result, when people look for jobs in Delhi, they tend to look for offices in the vicinity of their homes. For a business, this limits the talent available.

A Coworking space can help overcome this challenge. An organization could have a Shared office space in Saket and a Coworking space in Noida. Thus, employees no longer need to commute across the city. They can log in to their computers at the closest Coworking space. Companies are finding that this system makes their hiring process easier and lowers attrition rates. 

The above points clearly illustrate why co working space is in demand in Delhi. If you’re looking for a Coworking space for your company, take a look at the locations and services offered by The Office Pass (TOP). All Coworking spaces are equipped with ergonomic furniture, air conditioning and a range of facilities to keep you comfortable. Choose between Coworking spaces in Delhi, Noida and Gurgaon and experience the benefits for yourself. To know more reach out to us at 08999 828282. 

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Top Reasons Why Coworking Spaces Are Important

5 Ways Of Scaling Your Business While Operating From Coworking Spaces

by | posted in: Business, Coworking Spaces | 0

Success in a business is all about growth. If your company doesn’t scale up, it stagnates. For this, you need a way to control costs while maximizing revenue and yet give your business a professional space to base itself. This is where a coworking space can prove beneficial. 

A number of growing businesses are today preferring coworking spaces to independent offices. And why not – the costs are lower, operational headaches are minimized, all the infrastructure you need is already in place and maintained by someone else and you get to be part of a vibrant community. 

5 Ways Of Scaling Your Business While Operating From Coworking Spaces

Let’s take a look at 5 ways to increase business and scale operations from coworking spaces.

  1. Leverage The Network
  2. Employee Hiring And Retention
  3. Put Systems In Place
  4. Invest In Productivity Tools
  5. Test Out Innovations

Ways Of Scaling Your Business While Operating From Coworking Spaces

1. Leverage The Network

One of the biggest advantages of working from coworking spaces for business is that your team gets to be part of a larger community. Networking with people is much easier in a coworking space as compared to independent offices. 

Everyone who uses the space is a professional with a unique skill-set. You can find freelancers to help with social media marketing as well as mentors to guide you. You may even find people willing to fund your company’s growth. 

Apart from chance conversations at the coffee machine that could result in collaborations, you can also meet people at events and workshops organized by the coworking space provider. 

Leverage this network to brainstorm new ideas and create collaborations that let you expand your audience. For example, a joint social media exercise between two brands can help both tap into the other’s audience. This is an easy way to scale your business without any additional investment. 

2. Employee Hiring And Retention

Coworking spaces offer flexible leases that are ideal for growing companies. As your team grows, you can add additional desk space without having to compromise on anything else or shift your office completely. 

What’s more, coworking allows you to decentralize operations. For example, if you’re in Delhi, rather than limit yourself to candidates in Delhi, you can widen the hiring pool to Noida and Gurgaon by allowing them to operate from coworking offices in those cities. 

These employees could work from coworking spaces closer to them rather than commute on a daily basis. Take advantage of these coworking space benefits for startups to build your dream team.

You may have a wide skill set yourself but spreading yourself too thin will keep you from focusing on strategizing plans for your company’s growth. Similarly, if every member of your team plays multiple roles, they may be unable to do their core responsibilities. Remember the old saying, ’Jack of all and Master of none’. Look at your existing team’s strengths and weaknesses and step up your hiring to fill the gaps. As the team grows, so will your capabilities and, in turn, the company.

3. Put Systems In Place

As a business grows, consistency is key to its success. You can standardize your product in terms of quality and features as well as communication. A standardized system is easier to manage and helps ensure reliable results. It also helps your business grow faster from multiple locations. 

Work with your team as well as your coworking network. For example, your marketing team may collaborate with a graphic designer who sits at a table near you to create a standard template for product promotional emailers. Once this is in place, you can simply refresh the content and run regular mailing campaigns. 

4. Invest In Productivity Tools

Lowered operational costs are one of the key coworking benefits for business owners. There is no bothering with capital investments such as furniture and printers and scanners, etc nor do you need to take up any maintenance headaches. These savings, accounting for 18-25% of office operational expenses, can go a long way in helping your company grow as long as they are invested in the right direction.

Put the money saved from monthly operations towards productivity tools. Automating systems in this way lets your employees focus on other tasks and boosts their productivity. 

For example, manually tracking all sales and transactions is difficult and has a high risk of error. Instead, invest in a Customer Management System. This will give your sales team easy access to all the information they need and help them identify a customer’s position in the sales funnel at a glance. 

Similarly, invest in software that can help you manage accounts. Look for software that can be easily integrated with your existing system. 

Since you’re based in a coworking space, you can ask other business owners in the space for reviews and recommendations. You may even find software designers who can help you choose the perfect system for your company. 

5. Test Out Innovations

Innovations are key to a business growth plan. For a business owner, using coworking space is not limited to giving the team a place to work. This also gives founders access to a wide audience where you can test new products and innovations. 

Brainstorm new ideas with the people around you and get their feedback on where your product has scope for improvement. The person sitting next to you may see something you completely missed out on. Brainstorming can also result in product collaborations. 

Maximizing Coworking Advantages For Business

To give your company an edge over competitors, you must make sure you choose the right coworking space as your base. Look into the amenities and facilities offered to see that your team has the right working atmosphere and all the support they require. 

Small things like parking, the availability of lockers, the ease of booking meeting rooms, etc should not be overlooked. For a tour of the coworking space offered by The Office Pass (TOP), reach out to us at 08999 828282. 

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Coworking Space Rental Trends in Noida - The Office Pass

What are the Coworking Space Rental Trends in Noida

by | posted in: Coworking in Noida | 0

Office space in Delhi NCR is highly coveted and also, very expensive. For many growing companies, an independent office in Delhi’s main business districts is completely unaffordable. This is one of the key reasons people have been showing an increased interest in working from a Coworking space. Within the NCR, Noida has emerged as a prime location for such units. 

Over the last few years, Noida has emerged as a world-class metropolitan city. The office spaces are bigger, the buildings are more modern and the city boasts of excellent connectivity. It is attracting business from the IT industry as well as MNCs and BPO solution providers. The city has been outpacing other parts of NCR. While Gurgaon had a net absorption of 38%, Noida saw a net absorption of 55%. 

Coworking Space in Noida

Let’s take a look at the rental trends for Coworking spaces in Noida by top localities.

5 Best Coworking REntal Trends in Noida

  1. Sector 18, Noida
  2. Sector 15 and 16, Noida
  3. Sector 4, Noida
  4. Noida Expressway
  5. Sector 62, Noida

1. Sector 18, Noida

Sector 18 is Noida’s commercial real estate heart. It is the central shopping district as well as a prime location for office space in Noida. Renting and furnishing an independent office could be quite expensive in this area but if you were to look at a Coworking space, you could lease a desk for as little as Rs 6,500 per month. Day passes start at Rs 500 per desk making it ideal for freelancers and start-up entrepreneurs who have flexible teams.

2. Sector 15 and 16, Noida

Sectors 15 and 16 in Noida are amidst the elite section of the city. Its proximity to residential sectors and metro stops makes it appealing for employees, entrepreneurs and growing companies. It isn’t surprising to note that this is considered by many to be the best place for Coworking in Noida. You can get a hot desk at the rate of Rs 5,500 per desk per month. 

Some teams may prefer having a fixed space to work from. For them, a private cabin would be a better choice. These spaces are furnished and available at rates of around Rs 6,000 to Rs 11,000 per seat. 

3. Sector 4, Noida

Sector 4 is another popular Coworking space in Noida very well connected by DMRC metro line. The sector is well connected to residential areas as well as areas known for their industrial and manufacturing units. You can find a Coworking space in Sector 4, Noida for a day or a month or longer even. Day passes are available for around Rs 700 per person per desk. On the other hand, if you prefer a dedicated desk and are looking at a longer lease, monthly lease rates are around Rs 7,500 per desk.

4. Noida Expressway

Like other cities, Noida is growing at a fast rate. While Greater Noida was once considered a far distance, today, the Noida Expressway has connected the two regions and brought them closer together. 

In light of this, many companies are starting to look at sectors along the Expressway as a location for Coworking space in Noida. The location makes it ideal for individuals living in Noida as well as Greater Noida. The average per desk monthly lease rate in this area is Rs 6,000. It is more affordable than several other parts of the city and hence quite popular.

5. Sector 62, Noida

Sector 62 is one of the most well-planned sectors in Noida. It is located along the Delhi-Meerut expressway and hence accessible for the different parts of Noida as well as Delhi. The cost of leasing a desk in this sector ranges from Rs 5,000 per month to Rs 8,000 per month. You can also lease a private cabin for Rs 12,000 per desk. The rates are at par with the Coworking units around the city.

Finding the perfect office for rent in Noida

As every business owner knows, location is key to success. The location of your office affects employee morale and is one of the key factors influencing a client’s first impression of the company. Every sector in Noida has its advantages and disadvantages so what works for one company may not work for another. Thus, you need to have an independent view when you’re looking for the top location for Coworking in Noida. 

Apart from location, you also need to consider the facilities provided by the Coworking space. If your employees travel by public transport, choose a location close to a metro station. You also need to ensure that there is sufficient parking space available for people commuting in their own vehicles. 

The Office Pass (TOP) has several Coworking spaces in Delhi, Noida and Gurgaon. The Noida Coworking unit is located in Sector 4 and easily accessible from the main arterial roads as well as Sector 15 and 16 Metro stations. The space is fully furnished and equipped with everything required for day-to-day functioning.  To visit the space or know more, reach out to TOP at 08999 828282.

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Coworking Office Rental Trends in Gurgaon or Gurugram

Coworking Office Rental Trends In Gurgaon

by | posted in: Coworking in Gurgaon | 0

From hospitality and healthcare to retail, banking and IT Gurgaon attracts businesses in all sectors. Last year, in the first quarter of 2021, the NCR region saw a quarter-on-quarter net absorption increase of 5%. The city of Gurgaon contributed 38% of this growth. There’s another trend visible too – the growth of Coworking spaces.

Over the past few years, many companies have moved towards working out of a Coworking space in Gurgaon. Again in the first half of 2021, occupancy in Coworking offices in Gurgaon has grown by almost 70%. Many business houses that earlier occupied independent expensive offices are decentralizing their operations and looking at a Coworking office for rent in Gurgaon.

Of all the advantages offered by Coworking spaces, lower operating costs is the most attractive. Here’s a quick look at the rental trends for Coworking office space in different popular localities of Gurgaon.

Why is collaboration key to your business growth

Cybercity

Cybercity has always been an attractive location for corporate offices. If you’re looking for Coworking space in Cybercity you will find multiple options. The cost of leasing a desk for a month ranges from Rs 8,500 to Rs 25,000 per desk. 

In FY 2021, DLF Cyber City Developers Limited (DCCDL) saw rental income from office space increase by over Rs 2.5 billion as compared to the previous year. This amounted to a growth of about 10%. While Coworking spaces did not account for all of this, it is interesting to note that the DLF properties house many Coworking spaces.

Sohna Road

There are many entrepreneurs and established companies that look for a Coworking space in Sohna Road, Gurgaon. In the past few years, the sectors along this road, i.e., sectors 47, 48 49 and 50 have seen rapid development. 

A seat at a Coworking unit in this area is relatively cheaper as compared to Cybercity. You could get a hot desk, i.e. a seat at any desk in the Coworking space in some units for as little as Rs 5,000 per month. 

At the other end of the price spectrum, you could also find a Coworking space in Sohna Road that is priced at Rs 18,000 per seat per month. You can also lease private cabins for yourself and your team. The price of these units ranges from around Rs 8,500 per seat per month to Rs 29,000 per seat per month. The variation in prices is influenced by many factors including the proximity to the main road, the facilities available & the brand.

Golf Course Road

Golf Course Road attracts Gurgaon’s elite. It boasts of beautiful residential projects as well as some of the finest commercial buildings. Over the past few years, it has attracted not just IT offices but also banks and financial institutions and retail brands looking for an office for rent in Gurgaon. 

You can lease a desk for a month at a Coworking space on Golf Course Road for as little as Rs 11,500. Of course, if you prioritize the need for quality service and want better facilities, you can also find desks at a higher price range that go up to Rs 29,000 per seat per month. The vast range ensures that there’s a solution for every company. 

Near Huda City Centre And Sector 44

You’re not the only one to look at a Coworking space near Huda City Centre. As a result of connectivity with the metro lines, this is a popular location for Coworking. It’s ideal for companies with employees based in both Delhi and Gurgaon. Another reason it attracts interest is because of the reasonable desk lease rates. 

On average, you can lease a hot desk for between Rs 6,000 and Rs 8,500. Some Coworking spaces are priced lower with desk space available at as little as Rs 4,000 per desk while there are others too that price desk space higher and enter the 5-figure range. 

Manesar

Manesar was once considered a space only for factories and industries but as the residential side of this area has grown, so has the number of offices in the vicinity. There are a number of Coworking spaces that have also been set up in the area. Leasing a desk for a month costs around Rs 5,000 on average. You can even book a dedicated workspace within Rs 7,000 per month. This is relatively lower than the cost of leasing dedicated workspaces in other parts of Gurgaon. 

Join The Trend

Coworking isn’t just for freelancers and small startups, you can even get your own managed office spaces within a Coworking unit. The benefits are many and the only way to experience it would be to try it out for yourself. The Office Pass (TOP) has ready-to-use Coworking spaces at 8 different locations in Gurgaon. To know more, reach out to us at 08999 828282. 

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