Navayuga Real Ventures, in partnership with online commercial real estate marketplace PurpleYo, is going to begin its endeavour in co-working office space mart with Table Space.
The real estate arm of Navayuga Group will soon launch its first Table Space retail-cum-commercial development Navayuga Vizva at Gachibowli in Hyderabad spread across 30,000 sq. ft. Navayuga Vizva will roll out by June with a capacity of 500 seats at the cost of Rs 15,000 – Rs 20,000 per seat per month.
The company has planned to open second co-working space by the end of this year. Table Space will soon be on the rise offering co-working spaces ranging from 30,000-50,000 sq. ft. with the footprints in Pune and Bangalore as well.
While the Navayuga Real Ventures will provide co-working office spaces, the Bengaluru-based PurpleYo will give facility management services to their clients. Both of the companies have worked out on the revenue sharing formula and are well prepared to catch the opportunities generated during the ongoing transition phase of IT industry.
“MNCs no longer want to spend Rs 1500-2,000 per sq. ft. on furnishing leased spaces due to the cost and hassles involved, including deposit and lock-in period,” says Arvind Dharmapuri, Director, Navayuga Real Ventures.
Source: Times of India