Coworking spaces are now also operating out of malls and hotels across cities. Many large office parks also house coworking spaces. This helps companies to remain closer to their employees and offer them flexibility
Coworking spaces have become the most preferred option to adopt the hybrid work model, compared to the other options of changing office layouts or the hub-and-spoke model
Currently, approx. 35 Mn sq. ft. of flexible office stock is available across the country. Of this, approx. 71% or 25 Mn sq. ft. is by the large operators. Approx. 3.7 lakh flexi seats are currently spread across the major Tier I and Tier II cities of India.
ANAROCK has signed a formal agreement with U.S.-based Upflex Inc. to deploy Upflex’s services across tier 1, 2 and 3 cities in India. The agreement combines Upflex’s technology, processes, and corporate mandates with ANAROCK's national distribution platform to offer a highly customizable workspace program.
The total number of leases coming up for renewal in 2021 account for 90 Mn sq. ft. area. Interestingly, in terms of area, Bengaluru has the largest share at about 37%, with Mumbai coming in a distant second with a share of about 19%.
The previous 'gold standard' of Indian housing - the walk-to-work / short drive to work, by definition only in and around central corporate workplace hubs - may shed some its popularity for the middle class
With the COVID-19 pandemic making WFH a respectable decision, more companies are discovering WFH as an alternative to occupying costly office spaces.
Despite lower rentals, Indian coworking fails to attract major MNCs the way it does in European nations, reveals ANAROCK report on emerging asset classes.
Coliving, coworking and student housing have 7-11% higher rental yield than 3% national residential average, according to a CII-ANAROCK report.
The coworking culture in coffee bars or cafes is leading to a rise in the number of coffee chains and also concept cafes or bistros across cities.