15 July 2021

Future of Coworking Spaces in India

by Sneha
Future of Coworking Spaces in India

The pandemic really reformed the old ways of working tirelessly in those office cubicles. Now, the biggest corporates around the world and India are opting for work from home setup for their employees relating to safety concerns. While work from home is a very successful model for work, there are cases where people complain about not having the ideal work environment at home.

To save people from the mess of being too much at home, co-working spaces jump in. Because of co-working spaces, people can now have that office working environment even while being away from their actual office, this calls for a startup idea, many companies are up and developing co-working spaces in India, and the rise of co-working spaces has also been great.

Well, in this article, we are going to look at the future of co-working space in India and are also going to look at some startups and businesses that have started providing such services. Let us quickly take a look at the real concept of co-working spaces and their benefits before we move further.

What are co-working spaces, and how are they beneficial?

For a layman, co-working spaces will all seem just like regular office spaces, but the real difference is that, in co-working spaces, people of different organizations share one common office space.

Co-working spaces are especially beneficial for people who just can’t adapt to the work-from-home culture. The concept of co-working spaces was first seen in San Francisco, in the year 2005. In co-working, the people are generally greeted with more facilities and amenities than their normal office may have had. The several benefits of Co-working spaces are:

• Reduces office costs

• Better amenities

• A stable work environment

• Sharing of experiences

• Wider reach

• Facilitates remote work

• Easier to operate

Well, now that you know that co-working spaces are great, let us give you an insight into the future of co-working spaces in India and what are the new opportunities that are in store.

Related Read:

8 Reasons Why Co-working Spaces is Better than Traditional Office

What the future holds for co-working spaces in India?

As the decision from big Indian corporates like TCS, Infosys, and many others came that they are going to allow most of their workforce to pursue work from home, India saw a substantial rise in the number of co-working spaces opening and setting themselves up. The industry was growing until the second wave of Covid hit the country, and then it came to a standstill. The number of rented spaces started declining, and some clients and completely shifted from the place.

Now that the second wave is finally off the track, businesses have started coming back on track, and people have now begun enquiring for more and more desks. Most co-working spaces are witnessing a good resurgence, and most of them are optimistic about the industry getting back on track. Let us see why there is a good future for co-working spaces in India:

1. Better use of unused real estate

Many businesses and real estate projects had to change their course due to the pandemic. There are huge empty spaces around the nation that were left by firms that went out of business. Co-working spaces provide a nice opportunity for putting those spaces to use.

2. Better working conditions

While the famous corporates try to provide better working conditions to their employees, some corporates fail in doing so. These co-working spaces will provide for better working conditions at a low cost. It is just like outsourcing your office.

3. Best for small businesses:

Co-working spaces will provide small businesses a chance to get high-class working spaces for their employees. There are more than 42.5 million small and medium enterprises in India, employing over 106 million people. A lot of these businesses are in dire need of affordable office spaces.

4. Shift to tier-2 and tier-3 cities

The majority of Indian corporate offices are concentrated in tier-1 cities like Bengaluru, Mumbai, Hyderabad, Delhi, and Noida. The workers from small cities and towns had to migrate to these cities for work. These workers can now work remotely from these co-working spaces and contribute to the development of local economies rather than contributing to the already huge tier-1 cities.

5. Cost-cutting contributing opportunities for big companies

Big corporates love the concept of co-working spaces as they save huge amounts of money on their office costs and also save the money paid for the accommodation of employees in some cases.

Also Read:

Myths About Co-working Spaces

The bottom line

There are endless advantages of co-working spaces. For a country like India, where the work culture is rather unorganized and concentrated in a few metropolitan cities, the co-working spaces will help a lot for the culture to improve amidst the covid pandemic.

In case, you happen to be a business operating in Kochi and desperately looking for a coworking office space to rent in Kochi, then give us a call.

Trans Asia Cyber Park is built in CSEZ as part of Kochi Infopark's second phase of infrastructure development, making it a brilliant atmosphere to work in. Contact us today to get a first-hand view of our office spaces.