With a thriving start-up ecosystem aided by the Modi Government’s efforts to create an enabling environment for entrepreneurs across the country, demand for co-working spaces has been rising in recent times. Among the main drivers of this phenomenon are the increasing number of freelance professionals and consultants in today’s globalised workforce. Also, co-working business centres are in great demand with corporates looking for flexibility in work locations.
The Delhi National Capital Region (NCR) is definitely among the more prominent regions witnessing this global trend. In 2016, the number of co-working spaces in Delhi NCR was more than 30. This year, it is expected to go over 40. There are currently more than 2,500 seats available across different micro-markets in the NCR. The average occupancy share of co-working office spaces across NCR is about 70%-75%, but will go up once the recent seat additions in most micro-markets are leased out. Of all micro-markets, CBD Delhi has the lowest vacancy in this segment, at 8%-10%. All other micro-markets have vacancy levels in a range from 20%-35%.
Read more: CNBC Moneycontrol