Amazing Shared Office Spaces in Delhi NCR for Startups & SMEs

The Office Pass (TOP) plans to open 4 Neighborhood Coworking Spaces in next 6 months

by | posted in: Coworking Spaces | 0

 

Gurugram, 1st March 2022: Neighborhood Coworking operator The Office Pass (TOP), which currently runs 10 Coworking offices in Delhi NCR, plans to open 4 new offices in the next six months. This expansion is a result of strong demand for flexible workspace post covid. Companies and employees want to work in an office space close to their residence/business and that is creating a tailwind for Neighborhood small office format. This expansion will strengthen TOPs dominant position further and will make it the largest Coworking operator in Delhi NCR with 14 offices.

  • The company plans to open one office every 45 days starting April 2022
  • TOP targets to become the largest Coworking spaces operator in Delhi NCR

 

Out of the 4 new offices, 2 will come up in Gurgaon (one each in Golf Course Road and near HUDA City Center metro station). They will have a combined capacity of over 650 seats. The first office will become operational in March 2022 and the second in May 2022.

“Pre-COVID it used to take us 7-8 months to achieve breakeven in an office. With companies moving away from traditional leases and people preferring to work from an office close to their place of residence, we have seen a much faster adoption of the Neighbourhood Coworking model. Our last office (with 600 seats), that opened in November 2021 has achieved break-even in under 4 months. This has encouraged us to scale faster. If there are no covid related disruptions, we hope to open one new office every 45 days starting the coming financial year,” said Mr. Aditya Verma, Founder & CEO, The Office Pass (TOP).

TOP plans to add capacity at its existing office in Mohan Cooperative Area in South Delhi. The occupancy at the current office crossed 90% in February 2022 and South Delhi area continues to see high demand for Coworking. The company has already taken additional area in the region and will make the new office operational in April 2022. This will add another 170 seats to its South Delhi inventory.

The 4th office is planned in Noida or in an unrepresented location in Gurgaon. This will be a 450 seats facility and will be operational by June-July 2022. These new office spaces will see the firm adding around 1250-1300 seats. TOP also plans to enter the Mumbai market in the coming financial year.

The Office Pass, Coworking space, Cyber City, Gurgaon

Commenting on the company’s expansion Brijesh Damodaran, Partner, Auxano Capital one of the early investors in The Office Pass (TOP) said, “TOP is the first player in the Neighbourhood Coworking space and today it’s a market leader in this space. Managing the working capital efficiently along with being diligent in identifying new office spaces has been its USP. Increasing its geographical reach outside of NCR is the next big step for TOP and 2022 should see this in action.”

127 small to mid-sized companies are currently using TOP Coworking and Managed offices. TOP plans to expand aggressively and increase this to 1000 companies over the next 2 years.

“The commercial real estate space in India is largely un-organised with multiple individual owners. An office space of 10,000 SqFt typically have 3-5 owners. With no formal training in digital marketing & office management, the landlords find it extremely difficult and cost prohibitive to find a tenant. Post covid, the demand has shifted from traditional leasing to flexible workspaces and we see huge upside for companies like ours to organise this market,” added Aditya.

The Indian flex space market has seen huge growth over the last few years. It is still very early days for Coworking players. It is pertinent to note is that the current flex market penetration in total office stock stands at approximately 3.5%.  According to JLL’s office market report, India’s average penetration rate for the top seven cities could reach around the 4.0-4.5% mark over the next two years.

The demand for flexible workspace was largely driven by freelancers and start-ups in 2015-2019. However, post COVID, organisations of all sizes have developed a fancy for this format. Going forward the demand will be largely driven by small to mid-sized companies and large companies and MNCs using Coworking for their distributed / hybrid office formats.

 

About The Office Pass (TOP)

The Office Pass (TOP) is a technology-driven Neighbourhood Coworking & Managed Office space provider. TOP is the only Coworking & Managed Spaces Company in India that promotes #Walk-to-Work. TOP’s vision is to have multiple Coworking offices spread across the city. TOP offices are located in CBD areas and around residential Neighbourhoods, so one can find the nearest office in less than 10 minutes.

TOP currently runs 10 offices across Gurgaon, Noida and Delhi. 127 mid to large size companies are using TOP Coworking and Managed office services. The company plans to open over 50 Neighbourhood offices over the next 2 years with presence in multiple cities across India.

One can think of TOP as a Convenient store (like 7-ELEVEN) of Coworking.

To learn more, visit www.theofficepass.com and follow TOP on LinkedIN, Facebook and Twitter.

BOOK A COWORKING TOUR

Why Demand For Coworking Spaces Continues To Grow In Delhi NCR

Top 4 Reasons Why Demand For Coworking Spaces Continues To Grow In Delhi NCR

by | posted in: Coworking in South Delhi | 0

A recent real estate report showed that as the COVID numbers fell, interest in Coworking spaces grew. Delhi NCR was one of the main cities where this trend has been noted. 

According to a recent real estate report the gross absorption of office space in the third quarter of 2020 stood at 3.6 million square feet and grew to 4.7 million square feet within a year. It’s been growing ever since and from small start-ups to established multinationals, everyone is weighing the pros and cons of leasing desk space vs an entire office. Let’s take a look at some of the factors contributing to this growing demand for Coworking in Delhi. 

4 Reasons Why Demand For Coworking Spaces Continues To Grow In Delhi-NCR

Delhi NCR Is India’s Startup Capital

The entrepreneurial spirit is booming in India and there are over 61,400 recognized startups. Of these, over 5000 startups were founded in Delhi NCR between April 2019 and December 2021. Some of the most well-known Indian startups like Zomato, Swiggy, Paytm and Policybazaar are headquartered in Delhi NCR. With the government pushing a ‘Make in India’ philosophy, the number of startups in India will only continue to increase.

A tight budget is a factor common to most startups. Irrespective of the number of investors an entrepreneur may have, startups are constantly looking for ways to lower their operational costs. Leasing out independent offices is often out of the question. 

But, by choosing a Coworking office space in Delhi, they can give their team a professional space to work out of at an affordable cost. The ability to lease out individual desks also makes Coworking spaces ideal for startups with growing teams. 

High Rental Cost For Office Space In Delhi

Delhi is among the most expensive cities in India to rent an office. Surprisingly, an office in Connaught Place is more expensive than having an office in San Francisco! 

It’s not just startups that can no longer afford offices in Delhi’s Central Business District or Secondary Business Districts but larger firms too are having to rethink and prioritize their expenditures. At the same time, as any entrepreneur will attest, the address on a visiting card does influence the value of a business. 

Coworking in NCR seems the ideal solution to this issue. The cost of leasing out a desk at a Coworking unit in Noida, Gurgaon, Saket or Mohan Cooperative Area, etc. is quite budget-friendly. Another reason for the growing Coworking space demand in these areas is because Coworking offices are more likely to be on main roads and accessible from metro stations. Even if an entrepreneur could afford an office in Saket, it would probably be on a side road and parking may be a problem. Thus, startups are more likely to make a favourable impression on clients visiting them in a Coworking space.

Delhi Was Badly Hit By COVID And Companies Are Shifting To A Hybrid Work Arrangement

While COVID has affected every part of the country, Delhi NCR was one of the worst-hit. While a lot was written in newspapers about personal losses, businesses faced tough times too. The lockdown made everyone rethink the way they operated as well as operational costs. Work from home proved a good stop-gap arrangement but not a feasible long-term solution. A growing number of companies are moving towards adopting a hybrid work arrangement. This allows only those employees who have critical work in the office to come in. Everyone else can continue to work remotely from satellite offices.  A Coworking space in Delhi is ideal for such arrangements. 

Flexibility is one of the biggest drivers of Coworking space demand in light of hybrid work arrangements. Companies can choose to rent a workspace for as few as a couple of hours or as long as they need. They can rent out a single desk or ten. Thus, there’s adequate space for everyone on the team. 

Commuting Is Difficult And Coworking Helps Retain Talent

When it comes to commuting in Delhi, the traffic is notorious. Traveling by the Metro is a better idea but during peak office hours, finding a foothold can be a challenge. With COVID still around, there’s also a safety aspect that makes people hesitate before getting onto the Metro. As a result, when people look for jobs in Delhi, they tend to look for offices in the vicinity of their homes. For a business, this limits the talent available.

A Coworking space can help overcome this challenge. An organization could have a Shared office space in Saket and a Coworking space in Noida. Thus, employees no longer need to commute across the city. They can log in to their computers at the closest Coworking space. Companies are finding that this system makes their hiring process easier and lowers attrition rates. 

The above points clearly illustrate why co working space is in demand in Delhi. If you’re looking for a Coworking space for your company, take a look at the locations and services offered by The Office Pass (TOP). All Coworking spaces are equipped with ergonomic furniture, air conditioning and a range of facilities to keep you comfortable. Choose between Coworking spaces in Delhi, Noida and Gurgaon and experience the benefits for yourself. To know more reach out to us at 08999 828282. 

BOOK A COWORKING TOUR

Top Reasons Why Coworking Spaces Are Important

5 Ways Of Scaling Your Business While Operating From Coworking Spaces

by | posted in: Business, Coworking Spaces | 0

Success in a business is all about growth. If your company doesn’t scale up, it stagnates. For this, you need a way to control costs while maximizing revenue and yet give your business a professional space to base itself. This is where a coworking space can prove beneficial. 

A number of growing businesses are today preferring coworking spaces to independent offices. And why not – the costs are lower, operational headaches are minimized, all the infrastructure you need is already in place and maintained by someone else and you get to be part of a vibrant community. 

5 Ways Of Scaling Your Business While Operating From Coworking Spaces

Let’s take a look at 5 ways to increase business and scale operations from coworking spaces.

  1. Leverage The Network
  2. Employee Hiring And Retention
  3. Put Systems In Place
  4. Invest In Productivity Tools
  5. Test Out Innovations

Ways Of Scaling Your Business While Operating From Coworking Spaces

1. Leverage The Network

One of the biggest advantages of working from coworking spaces for business is that your team gets to be part of a larger community. Networking with people is much easier in a coworking space as compared to independent offices. 

Everyone who uses the space is a professional with a unique skill-set. You can find freelancers to help with social media marketing as well as mentors to guide you. You may even find people willing to fund your company’s growth. 

Apart from chance conversations at the coffee machine that could result in collaborations, you can also meet people at events and workshops organized by the coworking space provider. 

Leverage this network to brainstorm new ideas and create collaborations that let you expand your audience. For example, a joint social media exercise between two brands can help both tap into the other’s audience. This is an easy way to scale your business without any additional investment. 

2. Employee Hiring And Retention

Coworking spaces offer flexible leases that are ideal for growing companies. As your team grows, you can add additional desk space without having to compromise on anything else or shift your office completely. 

What’s more, coworking allows you to decentralize operations. For example, if you’re in Delhi, rather than limit yourself to candidates in Delhi, you can widen the hiring pool to Noida and Gurgaon by allowing them to operate from coworking offices in those cities. 

These employees could work from coworking spaces closer to them rather than commute on a daily basis. Take advantage of these coworking space benefits for startups to build your dream team.

You may have a wide skill set yourself but spreading yourself too thin will keep you from focusing on strategizing plans for your company’s growth. Similarly, if every member of your team plays multiple roles, they may be unable to do their core responsibilities. Remember the old saying, ’Jack of all and Master of none’. Look at your existing team’s strengths and weaknesses and step up your hiring to fill the gaps. As the team grows, so will your capabilities and, in turn, the company.

3. Put Systems In Place

As a business grows, consistency is key to its success. You can standardize your product in terms of quality and features as well as communication. A standardized system is easier to manage and helps ensure reliable results. It also helps your business grow faster from multiple locations. 

Work with your team as well as your coworking network. For example, your marketing team may collaborate with a graphic designer who sits at a table near you to create a standard template for product promotional emailers. Once this is in place, you can simply refresh the content and run regular mailing campaigns. 

4. Invest In Productivity Tools

Lowered operational costs are one of the key coworking benefits for business owners. There is no bothering with capital investments such as furniture and printers and scanners, etc nor do you need to take up any maintenance headaches. These savings, accounting for 18-25% of office operational expenses, can go a long way in helping your company grow as long as they are invested in the right direction.

Put the money saved from monthly operations towards productivity tools. Automating systems in this way lets your employees focus on other tasks and boosts their productivity. 

For example, manually tracking all sales and transactions is difficult and has a high risk of error. Instead, invest in a Customer Management System. This will give your sales team easy access to all the information they need and help them identify a customer’s position in the sales funnel at a glance. 

Similarly, invest in software that can help you manage accounts. Look for software that can be easily integrated with your existing system. 

Since you’re based in a coworking space, you can ask other business owners in the space for reviews and recommendations. You may even find software designers who can help you choose the perfect system for your company. 

5. Test Out Innovations

Innovations are key to a business growth plan. For a business owner, using coworking space is not limited to giving the team a place to work. This also gives founders access to a wide audience where you can test new products and innovations. 

Brainstorm new ideas with the people around you and get their feedback on where your product has scope for improvement. The person sitting next to you may see something you completely missed out on. Brainstorming can also result in product collaborations. 

Maximizing Coworking Advantages For Business

To give your company an edge over competitors, you must make sure you choose the right coworking space as your base. Look into the amenities and facilities offered to see that your team has the right working atmosphere and all the support they require. 

Small things like parking, the availability of lockers, the ease of booking meeting rooms, etc should not be overlooked. For a tour of the coworking space offered by The Office Pass (TOP), reach out to us at 08999 828282. 

BOOK A COWORKING TOUR

Coworking Space Rental Trends in Noida - The Office Pass

What are the Coworking Space Rental Trends in Noida

by | posted in: Coworking in Noida | 0

Office space in Delhi NCR is highly coveted and also, very expensive. For many growing companies, an independent office in Delhi’s main business districts is completely unaffordable. This is one of the key reasons people have been showing an increased interest in working from a Coworking space. Within the NCR, Noida has emerged as a prime location for such units. 

Over the last few years, Noida has emerged as a world-class metropolitan city. The office spaces are bigger, the buildings are more modern and the city boasts of excellent connectivity. It is attracting business from the IT industry as well as MNCs and BPO solution providers. The city has been outpacing other parts of NCR. While Gurgaon had a net absorption of 38%, Noida saw a net absorption of 55%. 

Coworking Space in Noida

Let’s take a look at the rental trends for Coworking spaces in Noida by top localities.

5 Best Coworking REntal Trends in Noida

  1. Sector 18, Noida
  2. Sector 15 and 16, Noida
  3. Sector 4, Noida
  4. Noida Expressway
  5. Sector 62, Noida

1. Sector 18, Noida

Sector 18 is Noida’s commercial real estate heart. It is the central shopping district as well as a prime location for office space in Noida. Renting and furnishing an independent office could be quite expensive in this area but if you were to look at a Coworking space, you could lease a desk for as little as Rs 6,500 per month. Day passes start at Rs 500 per desk making it ideal for freelancers and start-up entrepreneurs who have flexible teams.

2. Sector 15 and 16, Noida

Sectors 15 and 16 in Noida are amidst the elite section of the city. Its proximity to residential sectors and metro stops makes it appealing for employees, entrepreneurs and growing companies. It isn’t surprising to note that this is considered by many to be the best place for Coworking in Noida. You can get a hot desk at the rate of Rs 5,500 per desk per month. 

Some teams may prefer having a fixed space to work from. For them, a private cabin would be a better choice. These spaces are furnished and available at rates of around Rs 6,000 to Rs 11,000 per seat. 

3. Sector 4, Noida

Sector 4 is another popular Coworking space in Noida very well connected by DMRC metro line. The sector is well connected to residential areas as well as areas known for their industrial and manufacturing units. You can find a Coworking space in Sector 4, Noida for a day or a month or longer even. Day passes are available for around Rs 700 per person per desk. On the other hand, if you prefer a dedicated desk and are looking at a longer lease, monthly lease rates are around Rs 7,500 per desk.

4. Noida Expressway

Like other cities, Noida is growing at a fast rate. While Greater Noida was once considered a far distance, today, the Noida Expressway has connected the two regions and brought them closer together. 

In light of this, many companies are starting to look at sectors along the Expressway as a location for Coworking space in Noida. The location makes it ideal for individuals living in Noida as well as Greater Noida. The average per desk monthly lease rate in this area is Rs 6,000. It is more affordable than several other parts of the city and hence quite popular.

5. Sector 62, Noida

Sector 62 is one of the most well-planned sectors in Noida. It is located along the Delhi-Meerut expressway and hence accessible for the different parts of Noida as well as Delhi. The cost of leasing a desk in this sector ranges from Rs 5,000 per month to Rs 8,000 per month. You can also lease a private cabin for Rs 12,000 per desk. The rates are at par with the Coworking units around the city.

Finding the perfect office for rent in Noida

As every business owner knows, location is key to success. The location of your office affects employee morale and is one of the key factors influencing a client’s first impression of the company. Every sector in Noida has its advantages and disadvantages so what works for one company may not work for another. Thus, you need to have an independent view when you’re looking for the top location for Coworking in Noida. 

Apart from location, you also need to consider the facilities provided by the Coworking space. If your employees travel by public transport, choose a location close to a metro station. You also need to ensure that there is sufficient parking space available for people commuting in their own vehicles. 

The Office Pass (TOP) has several Coworking spaces in Delhi, Noida and Gurgaon. The Noida Coworking unit is located in Sector 4 and easily accessible from the main arterial roads as well as Sector 15 and 16 Metro stations. The space is fully furnished and equipped with everything required for day-to-day functioning.  To visit the space or know more, reach out to TOP at 08999 828282.

BOOK A COWORKING TOUR