LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Co-working centres 15-25% cost effective than traditional offices, says property consultant Anarock

"Moreover, co-working is proving to be cost-efficient by nearly 15-25 per cent by cutting down rental costs, fixed-capital investments and property maintenance," Puri said.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Co-working centres 15-25% cost effective than traditional offices, says property consultant Anarock
According to Anarock data, all major co-working deals in 2018 happened around the central business district areas of cities, Image source: Official Website
Written By: PTI
Updated: Sun, Jan 20, 2019
06:17 pm
New Delhi, PTI
RELATED NEWS
Arun Jaitley asks public sector companies to boost capital expenditure for economy's sake Arun Jaitley asks public sector companies to boost capital expenditure for economy's sake

Co-working centres are proving to be 15-25 per cent cost efficient for startups and firms as they save money in office rentals, property maintenance and fixed capital investments, according to property consultant Anarock.

In India, there are more than 200 co-working players who are operating 420 such work spaces (both branded and non-branded) and this number is likely to increase two to three fold over the next two years, its founder and chairman Anuj Puri said.

"For GenX and millennials, offices are no longer places to sit, churn and dawdle ? there are environments where they seek to enhance their creativity, network and thus increase the profitability of their companies," Puri said.

Tech-savvy millennials also prefer their workstations to be completely technologically equipped - offering hyper-connectivity solutions and state-of-art infrastructure, he added.
"Co-working spaces are offering just that," Puri said.

The consultant noted that companies aspiring to innovate and tap into this new generation of talent cannot ignore co-working. All types and sizes of firms are now embracing the new reality of employees' expectations for a technology-enabled style of working.

"Moreover, co-working is proving to be cost-efficient by nearly 15-25 per cent by cutting down rental costs, fixed-capital investments and property maintenance," Puri said.

The total space occupied by co-working spaces is likely to witness at least a 30-40 per cent annual increase. Cities that will offer the best opportunities for this trend, include Bengaluru, NCR and Mumbai, followed by Hyderabad and Chennai, the property consultant said in a report.

Watch Zee Business Tweet video here:

सरल और आसान भाषा में समझिए #Budget2019 को अनिल सिंघवी के साथ सिर्फ #ZeeBusiness पर।

हमें ट्वीट कर बताएं अपने  #BudgetKiBaat @AnilSinghviZEE @SwatiKJain @SumitResearch @pallavi_nagpal @davemansi145 @dkalra81 @devganrajat9 pic.twitter.com/E15K0H8qcW

— Zee Business (@ZeeBusiness) January 18, 2019

According to Anarock data, all major co-working deals in 2018 happened around the CBD (central business district) areas of cities.

Nearly 30 per cent of the acquisition of co-working spaces in 2018 happened in the size range of 50,000-1 lakh sq ft, followed by 20 per cent each of those sized between 10,000-50,000 sq ft and 1 lakh to 2 lakh sq ft area.

Puri said the consolidation of co-working spaces too started in 2018 with major acquisitions like One Co.Work acquiring IShareSpace and AltF CoWorking acquiring Noida-based Daftar India.

"Breaking all conventional norms, even the big daddies of the corporate world are now scouting for more flexible and cost-effective work spaces so as to cater to the evolved needs of their new workforces," he added.

On challenges for this sector, Anarock said co-working can also expose organisations to several risks. For companies dealing with high volumes of confidential data, sharing spaces with external organisations can be potentially risky.

Today, cyber security is a major strategic imperative for organisations, and efficient co-working spaces will need to find ways of mitigating these concerns, the consultant said.

Anarock suggested these operators to move away from the current lease-based structure to the ownership model developed in partnership with the land owner, developer or even the space provider.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
capital investment
RELATED NEWS
Arun Jaitley asks public sector companies to boost capital expenditure for economy's sake Arun Jaitley asks public sector companies to boost capital expenditure for economy's sake

LATEST NEWS

7th Pay Commission Latest News Today: BUMPER! Earn up to Rs 1.19 lakh as per 7th cpc matrix with HRA, DA, TA in this UPSC recruitment 2021 drive

Sensex rallies 375 pts; Nifty tops 14,400

WhatsApp Pink - a new virus now threatens users accounts; find out what it is and how to stay safe

Market Outlook With Anil Singhvi: Valentis Advisors' Jyotivardhan Jaipuria speaks on Covid-19 fears, sectors he prefers and more

LIC policy holders' alert: Check policy, premium status online through these steps; Send SMS on THIS number to check other details

​Maharashtra govt comes out with new precautionary measures - check list of restrictions here

Amarnath Yatra registration suspended; window to register for 56 day-yatra to reopen after assessing Covid-19 situation on later date

Gold price today: Money to be made? Buy with price target of Rs 48350, says Anand Rathi

PUBG Mobile 1.4 update: Check global version beta update APK download link for worldwide users

Covid 19 symptoms: What is the right oxygen saturation level, when should you see a doctor—EXPLAINED

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved