Co-working space rentals in Pune 33% lower than traditional offices, Gurugram cost advantage only 6%

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Published: March 15, 2020 6:52:55 PM

In its report on co-working segment, the consultant said flexible workspaces in Pune offer the highest rental difference -- as much as 33 per cent against comparable spaces in traditional offices.

Co-working space, Co-working space rentals, Co-working space in pune, traditional offices, Gurugram, Anarock, NCRThe average monthly rental for flexible workspaces is between Rs 7,500–15,000 per desk, while for traditional office spaces it is Rs 10,000-18,000 per desk, the report said.

Co-working spaces in Pune are available at 33 per cent lower rentals than traditional offices, while the cost advantage of flexible workspace is lowest in Gurugram at 6 per cent, according to property consultant Anarock.

In its report on co-working segment, the consultant said flexible workspaces in Pune offer the highest rental difference — as much as 33 per cent against comparable spaces in traditional offices. The average monthly rental for co-working spaces in Pune’s central business district (CBD) areas like Laxmi Road, Camp, Bund Garden, Koregaon Park and Shivaji Nagar hover between Rs 5,000-10,000 per desk as against Rs 10,000-12,500 per desk in traditional office spaces (assuming 100 sq ft per desk for conventional commercial office space).

In NCR’s Gurugram, flexible workspaces command only 6 per cent lower monthly rentals of Rs 9,000-14,000 per desk as against Rs 9,500-15,000 per desk in regular office spaces. “On an average, co-working spaces offer a substantial price difference of 15 per cent over traditional spaces in the top cities. While Pune offers the maximum cost advantage of 33 pc, Gurugram in NCR has the least at 6 pc,” ANAROCK Property Consultants Chairman Anuj Puri said.

Analysing the rental difference between co-working and traditional offices of six major cities, Anarock said that co-working spaces in Bengaluru charge nearly 20 per cent lower rentals in key areas such as M.G. Road, Millers Road, Vittal Mallya Road, Residency Road, among others.

The average monthly rental for flexible workspaces is between Rs 7,500–15,000 per desk, while for traditional office spaces it is Rs 10,000-18,000 per desk, the report said. In Mumbai Metropolitan Region, co-working spaces come at 14 per cent lower rentals in key micro-markets such as Ballard Estate, Colaba, Churchgate, Fort and Nariman Point.

The average monthly rentals for co-working spaces is between Rs 18,500-28,500 per desk, while it hovers between Rs 24,500-30,000 per desk for traditional office spaces. In Chennai and Hyderabad, rentals for co-working spaces in CBD areas are 9 and 10 per cent lower, respectively.

The average monthly rentals for flexible workspaces in Chennai’s key areas like Anna Salai, Nungambakkam and RK Salai are between Rs 6,000-14,000 per desk as against Rs 7,000-15,000 per desk for regular office spaces.

In Hyderabad, co-working rentals in key office areas like Gachibowli, Madhapur, Manikonda and Kondapur range between Rs 5,000-8,000 per desk as against Rs 6,000-9,000 per desk in traditional office spaces.

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