India Is Seeing an Upsurge in the Demand for Coworking Space
The concept of a coworking space is not new, but not in India. It’s just been a few years that the country has fully embraced the idea of shared offices spaces and is already seeing an upsurge in demand. If you are wondering whether you should take a virtual office Mumbai, take a glance at the facts and figures. They will only ascertain that not just small companies and freelancers, but large organizations are also choosing shared spaces in remote locations for their different projects. The price of a coworking space Mumbai, Bangalore, and Chennai are increasing.
What’s the scenario?
Rentals for virtual office space in Gurgaon’s Cyber City has seen a 13% upsurge in prices as well as seen a significant demand for space. In Whitefield and Electronic City in Bengaluru, the prices rose by around 12%. These figures are presented according to the result of a study conducted by the CBRE Asia. The study further confirmed that the rentals in Hyderabad’s IT corridor increased by 14-20% in the last few years. In Bengaluru, in the non-IT areas, the cost of office space rental rose to around 16%. There are a large number of companies being started almost every year and the existing firms are ever-expanding. This huge demand for space leads to pressure on the existing coworking spaces in the posh areas in major metropolitan cities in the country.
When everyone’s choosing office space available for rent, why should you be left behind? You too should choose a virtual office space for rent in a convenient location. But why not your own office? There are lots of disadvantages of setting up an office, especially if you are a startup. Given below is a guide for better understanding:
- Working alone in your office could be boring after some time. In a virtual office, you could communicate with people from other companies who would become your co-workers. This keeps you energetic and cheerful throughout the day.
- For a start-up networking is important. If you are choosing to work in a secluded office, it could mean you might lose out on the valuable networking part. In a shared office, there will many other companies with whom you can connect. You may find clients from within those companies. It is going to be beneficial for your business.
- Cost is one primary thing why many entrepreneurs are choosing shared office spaces in many cities across India. In your own establishment, you have to spend money separately for infrastructural development. Moreover, there are electric bills, telephone bills, and other suchlike bills to pay. If you take a space on a lease, you need to pay a certain amount of rent every month and that’s it. There is no worry about paying bills separately or arrange for maintenance or new developments.
- If you establish an office near your home, you may not be able to find the right resources. It could be in a remote area where the employees might find it difficult to commute every day. Thus, having a virtual office in a prime location in the city always helps.
Many young entrepreneurs are choosing virtual office Mumbai spaces for all the benefits they provide. Now, you must be convinced to take a space on rent for your small business firm. Remember to choose a reputed company for taking a virtual office space on lease.