There is a decrease in the lease deal given to companies working under a roof. The lease area given by co-working space companies has registered a decline of 43 percent on an annual basis. Recently, Real Estate Advisory firm CBRI released a report in which it was revealed that the area of the property on the lease for co-working space in nine major cities of the country has declined in the January-March quarter this year. The firms working in this sector have suffered a lot.
According to the report, 21.6 lakh square feet of working space was leased in the nine major markets of the country in March 2025 quarter. Which is much less than last year. In March 2024, the firms rented the corporate companies to the corporate companies for co-working space in these cities.
Reduction in co-working space
According to the data, the share of co-working space providing from the total working space declined to 12 percent in this March quarter, which was 22 percent in the same period last year. This decline has been recorded despite the increase in demand for workplaces after the Kovid epidemic. However, in January-March 2025, the total gross lease of office space in nine cities increased by five percent to 180 million square feet, which was 171 lakh square feet in the same period last year.
CBRE India Managing Director Ram Chandanani said that India is developing as a global center for global capacity centers and GCC is expected to contribute around 35-40 percent to Total Working Space Demand in 2025. Chandanani said that technology and banking and finance services will work to further this demand.
What is co-working culture
Co-working culture means places where more than one companies work together in a building on a floor. Co -working space corporate companies are provided by some firms. In this, the firms first lease the building owners. Then give it to different corporate companies on lease according to their needs.