Growth of start-ups and new ventures combined with skyrocketing real-estate pricing has been a significant factor in the recent increase in demand for co-working spaces in Mumbai. A cosmopolitan city with posh locations, corporate networking and all excellent facilities, Mumbai has always been ideal for budding flexible culture.
With the change in the perception of work culture in young individuals, the so-called millennial, along with the availability of ultra-modern facilities and a non-traditional office set up, the demand for flexible workspaces have risen. And this change in culture is not just amongst start-up ventures but can also be seen in the conglomerates and MNCs who are moving out of their traditional office setups embracing co-working culture.
According to the FICCI report, Mumbai had the highest proportion (14%) of co-working space to total office leasing in 2018 and is forecasted to further grow exponentially in the coming years. Cumulative space leased by co-working operators has more than doubled from 1.9 Mn. sq.ft in 2017 to 3.9 Mn. sq.ft in 2018 and is expected to exhibit a remarkable increase in 2019.
With a captive target of over a million people, Mumbai offers the highest business potential in this space.
Coworking spaces based on the plug-and-play model offers all benefits of a fully serviced or managed workspaces covering not only the infrastructural needs but also the recreational requirements of the millennial, thus providing a pocket-friendly perfect work-life balance.
Here is a snapshot of the average desk cost across Mumbai’s major areas :
Average Desk Cost in Mumbai :
| Location | Avg cost per dedicated Desk |
| BKC | Rs. 25000/- |
| Andheri | Rs.14500/- |
| Powai | Rs.18000/- |
| Lower Parel | Rs.14250/- |
| Santacruz west | Rs.9000/- |
| Thane | Rs.11250/- |
| Vashi | Rs.8000/- |
| Malad | Rs.10150/- |
| Goregoan | Rs.8900/- |
Co-working/Flexible workplace Market in Mumbai
Mumbai the dream city, the hub of financial-economic activity and Home to BSE, The reserve bank of India, various MNCs, and several prestigious Indian companies. The city attracts individuals especially youngsters from across the nation to start a business and pursue their dreams. Commercial real estate becoming a luxury and, time spent to travel a long distant workplace and, higher operating expenses has thus created a niche for the co-working culture in Mumbai. Enlisted are the on-demand regions of Mumbai :
BKC
- Home to Bandra Kurla Complex (BKC) -City’s premier business district.
- Landmarks like SEBI, Federal bank office, and MCA Recreation Centre are nearby.
- Ample Parking space available in the close vicinity.
- Very close to both Bandra Terminus and Lokmanya Tilak Terminus.
- Easily accessible through the Western Express Highway.
- MMRDA Grounds which hosts to city’s most Trade Exhibitions, Music Concerts, Award Nights is located here.
Andheri
- Well connected with metro line, four metro stations with a radius of 1.5 km
- Closely located is the Chhatrapati Shivaji International Airport.
- Next to Magicbricks Western Exp Highway.
- Parking spaces available within a block radius.
- Famous ancient archaeological site Mahakali Caves is located here.
- In the close proximity is the famous Shree Sidhhivinayak Mandir.
Powai
- Four Metro stations within a feasible distance of 2 km.
- Home to some of the best institutes like IIT-B, ICFAI
- Easy connectivity through Jogeshwari-Vikroli Link Road (JVLR).
- Corporates offices of Crisil, Deloitte, Kellogg’s, etc. also hub for start-ups like Heckyl Technologies and Housing.com.
Lower Parel
- Excellent rail and road connectivity.
- Nearest metro is Wadala Bridge Monorail station.
- Landmarks like Pheniox Mills, super-luxury Palladium Mall.
- Famous restaurants like Social, Tamasha, 145 the Mill are located here.
- Luxury Hotels like ITC Grand Central, The St. Regis Mumbai, Four Seasons Hotel Mumbai are close by.
Santacruz West
- The nearest monorail station is Magicbricks Western Exp Highway.
- Close to Nanavati hospital and Malpani eye hospital.
- Hotels like JC Chalet, Sea Princess are in proximity.
- Near to the famous Juhu beach.
- Mumbai University is very closely located.
Thane
- International airport well connected by the Mumbai-Agra highway.
- Called “City of Lakes”, known for its stunning more than 30 lakes.
- Mumbai’s busiest railway station is well connected through central and trans harbor line.
- Ample parking space is available in the vicinity.
- Many manufacturing units of chemicals, plastics and steel are located in thane.
- In the vicinity of Naneghat Hills that offers many walking trails.
Vashi
- The nearest station is just within 2 km.
- Close to business hotels like Four point by Sheraton, Abbott Hotels.
- Situated within a dense concentration of small businesses, offices, clinics, banks, retail outlets.
- Easily accessible by ferry, metro, and railways.
Malad
- The nearest monorail station is Azad Nagar.
- The famous Aksa Beach is in Malad.
- Many highly rated restaurants like in Indigo Delicatessen, Smokin’ Joe’s are just a walk away.
- Located close to Goregaon sports club.
- Shopping malls like Inorbit mall, Infinity mall are nearby.
- Parking space is available easily and in a block radius.
Goregaon
- 5 metro stations are in within 5 km radius.
- Is located next to Sanjay Gandhi National Park, home to a diverse flora and fauna.
- Home to the famous “Film City”.
- Bordered by the Western Express Highway.
- Well connected by Lokhandwala-Malad Link Road, the Jogeshwari-Vikhroli Link Road, and SV Road.
Qdesq pioneers in offering co-working solutions as per clientele requirements. We offer a huge variety of Coworking spaces in Mumbai with various amenities befitting different businesses. We partner with our clients to provide the best solutions, making their search of co-working a smooth and effortless process. We assure you of our trustworthy method, so to get help with your co-working needs, get in touch with our experts today.
