Office Space is Rising in Tier I and Tier II Cities of India
Earlier, there were metro cities (Delhi, Mumbai, Hyderabad, Chennai and Bengaluru) that attracted the investors and entrepreneurs for the infrastructure, business hubs and connectivity of the areas. Multinationals would always prefer these cities to set up their new unit, or an established company would always look for a metro city for expansion due to the emerging market and the resources. Soon there were Gurgaon and Noida as the most looked out places for the new and expanding ventures; and now the Noida Expressway joins the list.
With the rise in entrepreneurship and new businesses, India has witnessed a rise in commercial real estate over the last few years that have, in turn, raised the rentals across the nation as well. Due to the demand for commercial office space in Noida Expressway, many developers have launched their new projects on the Noida-Greater Noida Expressway. The main benefit of living and working along this infrastructural corridor is the rapid access to Noida and Delhi on one side and Greater Noida on the other.
The shared working spaces are desired by the millennial and even formal corporate and hence, the demand of office space rising in Noida is also justified. With the rise in demand, the supply has also been really encouraging of the serviced office spaces. The need for office space in Delhi NCR area has been very evident. Previously, the most favoured area was Gurgaon. However, in recent months, there has been a shift towards the modern offices on the Noida Expressway side.
Keeping the rising preference in mind, the Noida Authority has planned several infrastructural developments in this section. As per the plan, the metro has linked Noida with Greater Noida and further with Yamuna Expressway. Developers and realtors all are excited about the prospects in this location. The requirement for office space in Noida is noteworthy and hence, major players have not just completed but delivered their projects, boosting the investment profile of the region.
The soaring demand Noida Expressway has seen, there is a long way to go to satisfy it and in fact, there will be a huge increase in it in the coming years. The wide stretch, commercial hub and easy connectivity along with a long metro line are some of the factors attracting major businesses and small ventures to set up in the region.
The Industries that prefer Coworking Spaces
Although the concept of shared work spaces has been launched to help every industry, but as per the trend analyzers technology driven companies top the charts. Next up is the BFSI (banking, financial services and insurance) sector followed by the e-Commerce ventures that are looking for fully equipped managed office spaces.
Other industries having a noticeable place in the demand list are research firms, consulting units, call centres, agriculture based companies and engineering units. In simpler words, any company of any size of any industry is welcome in a coworking space. It just fits all!
Let's Connect Coworking Space in Noida – The Modern Way of Working
Starting from a small setup to owning offices in Noida and Greater Noida, we have worked all these years trying to be a comfortable and efficient workplace for many businesses across industries assisting professionals to have a work-life balance. Not just do we provide the flexibility, but also latest technologies and an equipped environment to improve your performance in every manner.
India is sure one of the emerging nations in the world and global investors are showing interest in Indian ventures. With the demand for office space rising in Noida, Let’s Connect India has come up with spaces with high-speed internet connectivity and professional facilities.
Why is it good to take up Coworking Office on rent?
There are numerous small and young startups looking for a good place to begin their business operations. Of course, the first office of any new business is home, but not for the long run. Opting for a coworking office on rent provides a venture with the best of the services, plans and a professional environment that makes working easy, simple and efficient while being affordable. Shared office spaces are no longer confined to big and established firms, but can be accessed by even individual freelancers as their ideal workplace. Out of the many reasons why managed office spaces are in huge demand, some are:
Lower operational overheads: Compared to conventional spaces, renting out a coworking space is very affordable and cost effective. A shared office may not be an entire floor just for your team, but it has everything that the members might need to carry on their operations smoothly and allowing them full concentration on the work. An equipped and fully furnished space is any day a better option than an office where even the basic amenities of water and electricity have to be taken care of.
Dynamic environment and flexible: A lively and flexible workspace is the choice of all companies whether new or old in the business. Traditional office spaces will always be charging a handsome amount for literally providing nothing else than space. On the other hand, a serviced office will never be financially burdening as it offers various flexible plans the members can choose from as per their suitability. Also, there would be no long lock-in period, which means easy entry and exit from the agreement.
Networking opportunities: The demand for office space is rising in Noida and professionals are happily shifting towards the managed spaces for they provide a chance to not just communicate but also collaborate with people across industries. An exchange of opportunities is very common when you work in a shared environment.
Impressive work environment: Move aside those dull and basic offices when you have chic walls and modern décor. The interiors of a coworking office are not just impressive but attractive enough to make people want to come to work thereby increasing productivity. The in-house gym, sleeping pods, cafes and gaming area add to the facilities.
In-house events: The management team of the workspace provider arranges for occasional events in the office to induce some fun and entertainment amongst the daily hustle. This acts like a break where there is an informative & interactive session, some games, interesting snacks and of course team building exercises.
Did you know that Noida has, in a way, taken over Gurugram in terms of demand for Shared Office Spaces?
Two of the Delhi NCR markets, that is Noida Expressway and Golf Course Gurugram, have been featured amongst the top 10 emerging regions as the choice for tech startups. Ever since the pandemic happened, there has been a huge lift in the demand for flexible office space in Noida Expressway. As we all must have noticed, Noida is coming out of its previous reputation of a copy of Gurgaon and is now attracting corporate firms and setting up of new ventures like never before. There are two main reasons.
- Noida has clearly overtaken Gurgaon in terms of metro connectivity as the Gurgaon Metro does not cover all the sectors. You need to take a cab after a certain stop. On the other side, Noida has an elaborate metro network (Blue Line as well as Aqua Line) that keeps all the routes and stretches well-connected, thereby connecting more clients to office spaces in Noida Expressway.
- Haryana Government has announced in Haryana State Employment of Local Candidates Bill, 2020, as per which the private companies must reserve 75% of all the jobs within INR 50,000 of monthly salary for the local candidates only. This can affect the hiring of new candidates and fearing this, companies are shifting to Noida where there is no such Bill or Rule.
It would be just accurate to say that today Noida has become a more popular coworking choice as compared to Gurgaon due to the metro connectivity, upcoming international airport, logistics hub and presence of A-grade office spaces.
Trying to find the right Coworking Space in Noida?
As much as professionals are interested to move to managed office spaces, the demand for coworking spaces is rising in an exponential manner. But is every space provider the right one for your business?
Come, join Let’s Connect coworking space in Noida and you would be happy to experience working in an equipped workspace with front office staff, a range of facilities and an energetic vibe. We have security personnel, housekeeping staff, IT experts, and everything that your business needs to back its operations. As the demand for coworking space is rising in Noida, so are our clients. We are working with a range of satisfied people who would trust us more than a traditionally rented space. If you wish to rent a premium workspace for your office, book a tour with us. We always strive to make your membership worth it.