Co-working Spaces

Budget 2023: Co-working space companies want the Centre to reduce the rate of tax deducted at source on their services

Co-working operators are opening new centres to tap rising demand for flexible workspace and their share in the overall office space leasing jumped to 20 per cent during January-June, according to Anarock. In April, real estate consultant Anarock entered into this segment by acquiring 75 per cent stake in myHQ, a booking platform for co-working spaces, in a cash and stock deal of around Rs 125 crore. myHQ, which is headquartered in Delhi-NCR, has over 50,000 subscribed members. As per the data, the total net absorption of office space across seven major cities stood at 20.8 million square feet in the first half of this calendar year. In this, the share of co-working spaces stood at 20 per cent. In H1 (January-June) 2021, its share was just 6 per cent of net office absorption of about 9.33 million square feet. Corporates are preferring co-working centres, which include managed office space, to cut capital expenditure and enjoy flexibility in scaling up or down their businesses. If

Demand for co-working office space jumped over two-fold in the last fiscal year at 90,200 desks across seven major cities as flexible workspaces rose in prominence after 2nd wave of the pandemic

Large part has been invested by a top infra firm's director; after the round over 75% ownership in iSprout will be with the four co-founders and this investor

Companies are looking at managed spaces for the triple benefits of cost savings, lease flexibility and the hybrid/hub-spoke model of working that they offer

Many might be forced to sell off their properties to new players or repurpose them to create some office or co-working space to hedge their bets

They are using the interregnum to expand and to negotiate cheaper real estate deals to add seating capacity

Coworking major WeWork India on Monday said it has raised Rs 200 crore from investors as equity and debt

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai

Realty firm Prestige Group has tied up with co-working operator Awfis to set up six centres, comprising around 4,000 desks, in Bengaluru, Hyderabad and Chennai with an investment of about Rs 40 crore.

GFM has five million square feet across office properties in Mumbai Thane, Gurugram, Pune and Bengaluru

Co-working segment has a bright future and will grow post-Covid-19 pandemic, but operators may face a lot of pain in the next one year, according to top property consultants

Currently market penetration of flexible spaces into India's total office stock stands at 3%

WeWork said the Covid-19 pandemic has accelerated the shift to flexible workspaces, with businesses of all sizes looking to manage cash-flows effectively by moving costs to a variable model

olted by this disruption in the very first phase of its growth, the industry is also looking at newer opportunities that the crisis might create

The firm is internally assessing the possibility of partnering with aggregators or entering the market on its own

In Mumbai Metropolitan Region, co-working spaces come at 14% lower rentals in key micro-markets such as Ballard Estate, Colaba, Churchgate, Fort and Nariman Point.

Companies refute claim, say they have a sizeable number of clients

The overall stock in flexible space market rose about 60 per cent from about 19 million sq ft in 2018 to touch 30 million sq ft in 2019

Apart from infrastructure, how can a cafe which has taken a plunge into formalising the co-working arrangments scale up operations?