India is on the verge of yet another disruptive new beginning. This time it is not a phenomenal start-up which would change the way we shop or interact. Moreover, not relating to any new product. Rather, it is the march of millennials into the work force that is changing the dynamics of cultural and as well as the structural way of doing business.
Millennials are the force to reckon with. They have changed the value system for a workplace on its heads. They want to work hard and play harder. Millennials want flexibility built into the system. Moreover, turning a workplace from a dull 9-5 work into a place for the free flow of ideas.
This development has brought into the picture, a growing number of coworking spaces in India. From MNCs to small budding start-ups and gifted freelancers. All are hopping onto the benefits that coworking spaces provide to the new generation of workforce.
As the real estate prices soar, so does the number of startups in the country. Therefore, in such a scenario coworking is the way forward. Which is offering cosy, open and customised shared spaces at 20-25% less than traditional office spaces for each dime spent.
The co-working spaces are mushrooming throughout the nation. An estimated 1.2 million sq ft space leased by coworking operators in 2016. Which is 3% of the total office space. Will go north of 10 million sq ft by 2020. Hence, the Sun is shining brightly on the vastitudes of coworking firms in India.
Here are the undisputed top 5 coworking spaces in India.
5. CoWrks
This Bengaluru based co-working space is creating a niche for its well known cosy and flexible shared offices. Once you enter this place your creative impulses will start to flutter. Making you irresistible. So, whether you are a nomad freelancer or are strict to the core of business frontiers. You have in your hands a place to blast off your professional life.
The founders are not different either. They come from a traditional business family who convinced their patrons to take a leap in this enticing field of co-working spaces. And the well known RMZ real estate developers took the plunge. Who now wants to catch up with the changing trends.
The Good
They have good funding and have a history of developing real-estate assets. The young founders sure do know how to unwind the intricacies of coworking spaces. This is evident from the layout plan of each of their offices.
There are options to choose from a range of INR 6499/month to up to INR 23499/month. The lowest being the lounge membership which will allow you to choose a seat of your choice on first to come first serve basis. The highest price is for a studio membership which adds all the bells and whistles plus a glass cabin to call your own.
The place also has private phone booths. Moreover, you can also avail storage units for valuables.
With one of the most exquisite and prime offering in the market, they come with all the gears and manage events for networking.
They provide discounted business services to up to a whopping 99% discounts. And have Alibaba and StateStreet as one of their esteemed clients.
The Bad
As the prices may suggest they have one of the highest fees for a single seat. Moreover, the lounge membership is at their new location in Bengaluru which might cause commute issues.
Further, the lounge offers a seat at the cafe, not a designated desk. So, a person looking for a budget might not find it amusing. However, this is limited to person to person.
Final Verdict
Cowrks is not an average coworking space for a reveller. Instead, it opines for the demanding and serious seekers. Those who have a mission to accomplish while they live a life of sport. Cowrks raises the bar! It wants to create a solid space which differentiates them from the rest. They invite those who love their work. Moreover, who are clear in their minds and already have ample work in hand. Go to place for an MNC as well.
4. iKeva
Monika Misra started iKeva in 2012 in Hyderabad. Who is a hospitality management graduate and understands what the modern working spaces should look like. Given its early mover advantage, it will attract a lot of attention in the coworking space.
iKeva is considerate with its each offering. From the colours on walls to little storage units. It has spruced up every inch of space for maximum utilisation. Resulting in a fantastic mobile office. Startups or MNCs or even a one person firm, all will gain from its expertise.
THE GOOD
iKeva is present in 6 locations in India. They have 24/7 access. Moreover, provide the prime location on all of their centres. The members can visit any of the centres across India for free.
iKeva believes in flexibility and provides ample choices for its members. All office equipment are high-quality whether a phone or high-end furniture. They have it all for you to begin working on your goal.
iKeva provides mail handling and business registrations with all of their plans. This aspect makes them different from the others. Further, it shows where their focus as a co-working space lies.
Therefore keeping the above point in mind. It needs a special mention that iKeva provides under 30 min booking for business meetings. Moreover, it also adds 3 hours of complimentary conference room facility with all plans.
iKeva has around 1200 members. In fact, Philips and Nokia are some their prominent clients.
Locations – Bengaluru, Chennai, Gurugram, Hyderabad – 2 locations, Mumbai.
THE BAD
At a minimum starting price of INR 7500 and going up to INR 11500. They are for those who can afford for all office amenities. As their plans focus on core business requirements. They are better for general purpose mobile office space.
If you are looking for a hip place then you might want to consider some other options.
Final Verdict
iKeva is under command of a woman entrepreneur. Who values work ethic and knows how to deliver on those values as well. Their ongoing business since 2012 stands proof to this observation. They have over 300 startups working out from their coworking space. Therefore, if you are a startup who wants to take a flight to the business world, then iKeva is the place to book your seat.
3. Awfis
Awfis is the Crème de la crème of the coworking spaces in India right now. With $20 million funding from Sequoia Capital. It has expanded its services adding zing to the existing coworking spaces as well. Founded by Amit Ramani in 2015. It has moved beyond spaces with the concept of Pro-Working. People-Proximity-Performance is their guiding force and differentiating them from the rest.
Founded by Amit Ramani in 2015. It has moved beyond spaces with the concept of Pro-Working. People-Proximity-Performance is their guiding force and differentiating them from the rest.
Further, they have numerous centres across 17 cities in India. A towering 3500+ members. Moreover, a respectable 500+ companies use their coworking spaces.
THE GOOD
Awfis coworking spaces are present across India in various locations. It includes 5-star hotels like Hyatt and Lemon Tree. From dedicated seats to cabins. All are available for the price that you pay.
Moreover, Awfis is also unique in the sense that they auction seats. The higher that one bid they can win that seat. Further, to keep the members involved they also have reward points.
Awfis is one of the most colourful and delightful coworking spaces to be in. Their vision to include 5-star hotels into the mix lets us peep into luxury and finesse.
Locations- Delhi, Noida, Pune, Bengaluru, Hyderabad, Gurugram, Kolkata, Dehradun, Chennai, Ahmedabad, Arungabad, Chandigarh, Ghaziabad, Indore, Jaipur, Udaipur.
THE BAD
Awfis is unlike iKeva who would tune their atmosphere for core business services. Awfis is more inclined to the casual and open services. The number of locations is far exciting than any other coworking space providers in India. This could mean good or bad for someone who wants to have a more unique and focused coworking space.
Further, the seat auction is yet another bummer for those who want to see fixed prices. An auction depends on luck. You have to go through the tedious process of waiting to bid and then expect to win through uncertainty. This aspect seems more like an experiment by Awfis and not something they thought to have from the beginning.
FInal Verdict
Awfis checks all the right boxes being a good coworking space in India. If your budget allows and you are happy to use their numerous locations across India. In such a case, Awfis is the best choice for you. Their experienced founders and well-trained staff will assist you in your office productivity.
2. Insta Office
Insta Office is the rising startup of India. It started in October 2015. Moreover, US Globevestors have invested in their venture. Its offices are available across 6 locations. Further, it will soon host co-working spaces in 24 locations.
THE GOOD
Insta Office has large coworking spaces. From a minimum of 4000 sq ft to up to 6000 sq ft. They provide flexible seat options. Starting from INR 6000 to highly customizable seats.
Insta Office is on expanding mode. They partner not just with builders but also with people who have prime location properties suitable for coworking.
Amazon uses their office space for recruitment services. Moreover, Insta Office is the ‘Quick Service Restaurant’ as one of the client mentions. This proves beyond doubt that it is a serious contender in the coworking space in India.
With over 100+ partners like Uber, Hardrock Cafe, AWS, and Nearbuy. You have plenty of choices. Insta Office has been able to accumulate all those things that matter for coworking space. Evident from Paytm choosing it as its location for developing the ‘Little app’.
THE BAD
One thing that is sore point for Insta Office is its few offices in select cities across India. It has plans to expand but for now who are not in Delhi NCR or Bangalore might want to wait a bit longer.
However, apart from that Insta Office do great when it comes to coworking spaces in India.
Final Verdict
If you have plans to open up an office and start working from near Delhi or Bangalore, then Insta Office is the best option right now. From high-quality staff and services. Insta Office has carved a niche for themselves.
1. WeWork
WeWork is the Godfather of coworking spaces in the whole wide world. With a staggering valuation of multi billion dollars. It can easily gobble up all the prime locations and small coworking spaces in India.
Adam Neumann started it in 2010. Since then its offices have conquered the earth. Moreover, it has the highest leased space in India for coworking spaces. Both a blessing and a curse for the small competitors.
WeWork started operations in Bengaluru. And will soon start coworking space in Mumbai as well. If these locations do good, then we will witness an onslaught of huge coworking spaces in India. Moreover, WeWork is the first foreign firm to start in this industry in India. So, its success will bring more foreign players. Something which all of us are hoping should happen.
Where other co-working spaces struggle to fill up spaces. WeWork fills up to 80% by launch. Further, it takes around a couple of months before it reaches full capacity. A feat which is yet to convert in India for any coworking firm.
THE GOOD
The brand value of WeWork is phenomenal. There is none in India to compete with it. Moreover, its global presence will attract top MNCs and startups to its fold.
Besides all this, they charge a nominal fee of INR 9000 for a hot seat. Thanks to cheap office space rates when compared the to neighbourhood. The affordable pricing with global expertise places WeWork on the pedestal that a home grown firm can only dream at the moment.
All the coworking spaces WeWork provides is large in size. So, it becomes the magnet for a lot of people who prefer open spaces. Because of its high standards, the crowd will also constitute such clients. Be it a freelancer or an MNC. Everyone would want to take a hot seat here. Meaning it takes you closer to the well-known crowd in the business.
This translates to better networking and funding opportunities. When compared to rest. WeWork has no direct competitor. We mean it! Coworking in India is in its nascent stage and a global presence through WeWork on this scale is highly noticeable. If coworking is the new high then WeWork is the star attraction.
THE BAD
Apart from its limited location availability. WeWork really doesn’t have any short comings. It seems they will run into waiting period for seats.
FInal Verdict
WeWork is the best choice. That is the final verdict. Whether a freelancer or an MNC all will find it as the best solution when it comes to office space.
Conclusion
Co-working space will see a rise in demand and supply as the time passes by. Further, there are two primary drivers. One is the high real estate prices and second the millennial workforce.
Moreover, it is evident from the popularity of these places that soon MNCs would need to opt for these places to retain their talent. So, with rising demand for special needs coworking spaces have become the go to solution.
To clear things up for a doubting Thomas. They can take a demo visit to any of the coworking places. Besides, clearing up doubts it will enrich you with newer possibilities that you didn’t think of yet. So, go and give it shot!
