Being financial headquarters of India, Mumbai is one of the costliest cities for renting or buying office spaces. In fact, according to a study, the rent for office space in Mumbai is among the top six globally. You can only imagine the amount of investment you will have to make if you are planning to purchase the office property!
Leasing or buying commercial property is sometimes not a viable option for new businesses, start-ups, small companies or short-term projects with budget constraints. The recent trend of coworking spaces in Mumbai has emerged as an effective solution against the humongous office space rentals or purchase price. A report states that the absorption of co-working offices in Mumbai has doubled from 0.38 million sq.ft in 2016 to 0.6 million sq.ft in the first three quarters of 2017.
If you choose co-working spaces in Mumbai, you can reap various advantages:
Sharing work space means sharing rent which translates into low rentals for an otherwise expensive property. The rent is shared in the proportion of the area occupied. Therefore, becomes very affordable and offers value for money. Co-working properties are almost 20-25% less expensive than the traditional leasing.
Location of Your Choice
It is always advisable to have an office that is either close to your vendors, suppliers, customers or market. However, high rentals of office space in Mumbai can dissuade you from doing so. With co-working, you can set up your base in locations that are best suited for their businesses without paying heavy rentals.
Networking is a great way of marketing and connecting with the world. Sharing office space provides valuable opportunity to network with different categories of professionals and businesses that could prove to be useful in future.
Ideal for Startups and Freelancers
If you are a bootstrapped startup looking for office space to expand the team or operations, co-working spaces in Mumbai is an ideal choice. If you are a freelancer or a virtual employee needing a professional environment, then co-working option can give you an edge. Sometimes it can get lonely working in isolation. But, with other co-workers from diverse backgrounds sitting next to you, you can get a sense of belonging and make work fun.
Unlike conventional leases, co-working office space requires minimal paperwork and you can rent it quickly. You can pay the rent at hourly, weekly or per seat basis for varying for different periods, offering you more flexibility. These spaces also come with amenities such as internet connection, tea-coffee vending machine, printers and meeting rooms. The owners take care of the utility facilities and maintenance as well. There is practically no administrative cost.
Jagaha.com is one of the real estate website where one can find best and verified coworking office space in Mumbai.
Do you need any more reasons to choose co-working over the regular office space in Mumbai? We guess not!