The trend of co-working has witnessed massive growth over the years and has steadily disrupted the traditional work environment. It is especially popular among the freelancers and start-ups. With the trend gaining momentum all over, there has been a significant increase in the number of shared office spaces across the major cities, especially Bangalore. 

Flexible space or the co-working sector has emerged as one of the primary growth catalysts within the commercial market. Given the massive inflow of venture capital into the sector, the aggressive growth rate of the segment displays no signs of diminishing. According to a recent revelation, the top three cities of India i.e. Delhi, Mumbai, and Bangalore, in June 2018, had nearly 2.9 mn sq ft, 2.8 mn sq ft, and 4.1 mn sq ft of flexible space, respectively, which averages to approximately 2.83 percent of the total real estate inventory available in these cities. Another major report by CBRE recently revealed that Bangalore along with Delhi NCR has been one of the most preferred markets for flexible office space operators in India wherein, the size of leasing has also witnessed a notable increase. Several co-working operators have leased as much as 1 lakh sq ft of area in these cities.

Considering the high availability of flexible office spaces, Bangalore is one of the preferred cities for setting up a start-up in India. According to Kareem Khan, Managing Partner, Network Ventures, “The co-working trend is predominantly found in Central Bangalore which includes areas such as Koramangala, Indiranagar, HSR Layout, Central Business District (CBD), and the Outer Ring Road (ORR). At present, there has been a paradigm shift in the preference of the buyers for commercial properties. Unlike before, high visibility outlets are not much in demand. Consequently, the commercial properties situated on the main roads have limited buyers. Moreover, skyrocketing rentals of the properties have forced the buyers, especially the mid-segment buyers, including the start-ups, to look for other options besides individual outlets. This is one of the reasons why Bangalore has witnessed a steady increase in co-working spaces.

Echoing the sentiments, Vishal Parwani, Owner, SSB Properties, Bangalore, avers, “The co-working trend is not quite evident in the suburbs as of now. However, other than Central Bangalore, you can find flexible working spaces towards Hebbal, Bellary Road, and Ulsoor Road. The rates prevalent in Central Bangalore are high as compared to the ones in these areas. The per-seat price of a co-working space in Central Bangalore starts from Rs 5,000 onwards.”

Bangalore co-working hub, co-work café, Bhive workspace, Cowork India, and Innov8 are some of the popular suppliers of co-working spaces supporting the rapid increase of start-ups in Bangalore. Along with dedicated desks, these operators provide hot desks depending upon the availability of seats on a day-to-day basis, private cabins, and a gamut of other facilities such as open terraces, nap rooms, reserved parking, cafeteria, IT support, power backup, housekeeping, and enhanced security features. The monthly rent usually depends on the type of company, and the number of desks or cabins required.

Details of some of the popular co-working operators in Bangalore

S.No

Name

Location(s)

Price per seat, per month (approximately)*

1

BHIVE Workspace

HSR Layout

Rs 4,000-Rs 10,000

Koramangala

Rs 5,000-Rs 10,000

Uttarahalli

Rs 5,000-Rs 10,000

Indiranagar

Rs 4,000-Rs 10,000

Jayanagar

Rs 5,000-Rs 10,000

2

Novel Office

Kudlu Gate

Rs 3,999  

Adugodi

Rs 3,999  

Ulsoor

Rs 8,000

3

Innov8 co-working space

Koramangala

Rs 9,999

4

Cowork India

HSR Layout Sector 2 and 4

Rs 4,500-Rs 10,000

5

Regus

Nagawara

Rs 18,000-Rs 20,000

Old Madras Road

Rs 18,000-Rs 20,000

Rajaji Nagar

Rs 27,000-Rs 30,000

             *Prices are exclusive of GST

By providing an innovative and affordable solution to the commercial market, co-working spaces have bridged the demand-supply mismatch in Bangalore over the past few years. With immense benefits such as no upfront expenditure in terms of fixed capital, collaboration opportunities, and extensive amenities as compared to the conventional office spaces, the trend is expected to gain further prominence across the city in the times to come.