Office Space Lease Demand in Gurugram Set to Increase

With the strong hint of a promising growth in office space demand, co-working firms have ended up providing 0.2 million sq. ft. of office space in Gurugram in 2016 – reports a property consultancy Colliers International.

Gurugram has evidently become the most preferred co-working space for start-ups, small and medium-sized enterprises, e-commerce & media companies and large corporations. In fact, localities like Sohna Road, Golf Course Road, Sector 44, Sector 29 and Udyog Vihar are emerging as co-working places. With good connectivity and developed social infrastructure, the Millennium city will further surge its position in co-working space region.

The city is also recorded as the second most expensive location after Mumbai due to increased demand. The median desk cost in central business district (CBD) of Gurugram comes in a range of Rs 10,000-15,000 and in secondary business district (SBD) at Rs 6,000-12,000. Office leasing transaction sizes lie between 15,000 sq. ft. and 25,000 sq. ft.

Regus, 91springboard, Awfis, InstaOffice, iKeva, iShareSpace, AltF, Skootr and Smartworks are some of the major co-working space providers which are concentrated on leasing office space.

“Until recently, only small local players were dominating the market but now a few developers are also planning to experiment the concept which will help the concept to grow at a faster pace. With metro getting operational in the Golf Course Road, we saw keen interest of coworking players in this area,” says Surabhi Arora, Senior Associate Director, Research at Colliers International India.

Source: ET Realty

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