Flexible Office Space Market in India to Reach 81 MSF by 2025: Report
The flexible office space market in India is expected to grow at a CAGR of 23% to reach 81 million square feet (MSF) by 2025, according to a report by Vestian. This growth is being driven by the rising demand from startups, SMEs, and large enterprises, as well as the increasing adoption of hybrid work models.
The report notes that the flexible office space market in India is still at a nascent stage compared to other countries such as the US and European countries. However, it has grown rapidly in recent years, with over 7.6 lakh seats now available across more than 1,000 centers in India.
Some of the prominent office areas in India that are popular with flexible space operators and occupiers include Whitefield in Bengaluru, Hitec City in Hyderabad, Baner in Pune, Andheri (E) in Mumbai, and DLF Cybercity in Gurugram.
The report also projects that the flexible office sector will constitute around 25% of the overall office space absorption in India by 2025. While coworking centers are at the most flexible end of the spectrum, managed offices would be at the less flexible end.
Overall, the report finds that the flexible office space market in India is poised for strong growth in the coming years. This is being driven by a number of factors, including the increasing demand for flexibility from businesses, the rising adoption of hybrid work models, and the growing presence of multinational companies in India.
- 22 Sep
Investing in Land for Rental Yields: A Lucrative Opportunity
Investing in land and renting it out can be a good way to generate income and capital appreciation. However, it is important to do your research and invest in the right locations. The key factors to consider include proximity to the city center, upcoming infrastructure, social amenities, tourist attractions, and affordability.
- 20 Sep
Hotels in Noida and Greater Noida charge high room rates ahead of two international events
Hotels in Noida and Greater Noida are witnessing robust demand ahead of two international events, the MotoGP Indian Grand Prix and the UP International Trade Show. Room rates have risen appreciably, with some hotels charging up to Rs 25,000 per night. The upward spiral in hotel tariffs has spilled over to adjoining areas like Ghaziabad, Kaushambi and Vaishali in Uttar Pradesh, and parts of Delhi. Visitors are also choosing alternative options like Airbnb rooms. The surge in demand for rooms is a positive sign for the hospitality industry in the area.
- 18 Sep
MHADA announces lottery for sale of affordable homes in satellite towns near Mumbai and Pune
MHADA has announced a lottery for the sale of affordable homes in satellite towns near Mumbai and Pune. The lottery will be held for the sale of 5,311 homes in Mumbai and 5,863 homes in Pune. The homes will be in the range of Rs 9 to 49 lakh in Mumbai and Rs 5 lakh to 1.11 crore in Pune. Over 1,000 homes in Mumbai are being sold under the Pradhan Mantri Awas Yojana (PMAY). The registration process for the lottery is completely online and available on https://housing.mhada.gov.in/ The lottery results will be announced on November 7, 2023 for the Mumbai lottery and on an unspecified date for the Pune lottery.
- 16 Sep
Maharashtra Real Estate Regulatory Authority (MahaRERA) to Consider Regulations on Monitoring Quality of Construction
MahaRERA is taking steps to improve the quality of construction of real estate projects in Maharashtra and protect homebuyers from unscrupulous developers.
- 15 Sep
Engineering and Manufacturing Sector Becomes a Major Office Leasing Force in India
The Engineering and Manufacturing sector is becoming a major force in the Indian office leasing market. The sector's growth is being driven by government policies and the increasing demand for chip manufacturing and electronic equipment. The sector's expansion is also creating new opportunities for real estate development in the peripheral locations of major cities.