Co-working spaces shifting from Bengaluru to Chennai
Posted on: 06/Sep/2018 3:48:49 PM
Co-working spaces are usually meant for new start-ups where the probation phase is carried on before establishing into a big scale company depending on the business flourishment. People tend to invest less on the office space in the initial stages of the start-ups mainly focusing on the business operations rather than spending more money on facilitation. Nowadays the scenario of Co-working spaces are totally changing and many well established companies are looking for co-working spaces.
The real estate operations and investments on these kind of Co-working spaces are shifting towards Chennai from Bengaluru where lots of spaces were occupied and also the tremendous increase in the rent.
Chennai witnessed some downward spiral of the real estate scenario especially in the sectors of Office space allocation in recent years. Now the growth in the office space industry is steady and shifting the companies view to the Information Technology and Outsourcing zones of Chennai. A facility in Guindy, Chennai was filled 100 percent within the two months of the launch. The quick booking of the spaces resulted in the opening of another facility in Old Mahabalipuram Road (OMR).
Many big concerns such as Amazon, Microsoft and Tata Communications are looking for Co-working spaces for some of their operations owing to better service and facilitation opposed to the traditional single office spaces. The co-working spaces can also cut the overall costs up to 25 percent in the allocation of office space of a company irrespective of the location. Financial aspects and flexibility are the main factors for the companies to choose co-working office space for their existing and new endeavors.
