Growing Demand for Commercial Property in Noida

Commercial property in the country has witnessed rising demands in the last few years. And that is good news for the real estate industry. In fact, the market for commercial and office spaces is going so strong that last year witnessed rising office rentals across the country. The top cities that are doing extremely well in this scenario are Bangalore, closely followed by Kolkata, Pune and Chennai. Delhi NCR is not far behind having seen the demand and supplies of commercial property in Noida and the capital increase substantially in the last few years. As per a CII forecast, the net absorption in India of commercial office space is projected to be crossing 39 million sq. ft by 2020. The co working space is doing extremely well in the country at the moment. Not only is the demand existing, supply pipeline of quality co working space in the country has also been quite encouraging in the last two years. As per statistics, the absorption of the shared office space was 1.11 million sq. ft from January to September in 2017 whereas it almost tripled the next year to 3.44 million sq. ft for the same period.

City-wise performance

Bangalore undoubtedly has held onto its number one position in the domain of office on lease and in fact in the first quarter of 2018 reported more demand than the combined numbers of Delhi/NCR, Mumbai and Hyderabad.

While the demand for office space for rent in Delhi NCR region has also been noteworthy, the primary active area was Gurgaon. However, in the recent few months the supply of new trendy modern offices spaces along the Noida Expressway has been on the rise.

Mumbai and Hyderabad followed behind in close quarters, especially in small offices for lease.

Industries that prefer to go in for leasing offices

Trend watchers report that it is the technology driven companies that have led from the front in their demand for offices on rent. The BFSI sector follows closely behind while e-commerce companies are in the third position.

Other sectors that are slowly willing to pay rent for office co workingspaces include the manufacturing industries, research-oriented companies, consulting firms, call center seats on rent and engineering companies.

Opening of Wizworks co working space in Noida

An office space rental agency and promoter, Wizworks has also opened its co working space in the SEZ hub of Noida. The company just like other conventional providers of temporary office spaces and shared offices works work on a short-term or long-term membership or contracting payment module, as per the convenience of the customers. What differentiates it from other office space rental companies, at least in Noida is the ambience and innovativeness the company has displayed towards the range of services it has introduced for its clientele.

Advantages of taking up co working office property on rent

Typically, young entrepreneurs and start-up companies or those belonging to small and medium scale industries start their work from a small space at home or a friend’s place on rent. Getting into a co working space provides them with a professional environment that not only makes working easy and simple, but also provides the much-required impetus for growth and stability to such enterprises. Today, the trend to share offices is no longer limited to just the start-ups, freelancers and small setups – even giant companies and corporates feel that co working spaces are ideal for their employees and workers to be their productive best.

There are several reasons why a growing number of corporates are moving towards co working offices available for rent. Some of the key reasons are: -

Cost-effective option vis-a-vis renting out complete office spaces as per the conventional model. The co working spaces may be small workspace for rent, but they help save costs on a few parameters, including of course the size of the office space. From being fully furnished to taking care of basic amenities like electricity and power backup, there are many ways that corporates are feeling respite from making high payments for various facilities.
Dynamic and flexible pricing works best with most entities, irrespective of whether they have just started work or have been around for years. Conventional offices spaces are too financially burdening and with rentals for commercial spaces skyrocketing everywhere, it is too taxing. Also, conventional office spaces are usually the contractual leased types where the contract periods are usually longer. In contrast co working spaces offer much flexibility. There are places that come on monthly rentals and there are places that charge daily too. This model works well because corporates pay less, they take up spaces on rent when they need, and they can move out of the space without a requisite notice period or wait period.
In recent years the trend to working with professionals from other industry has seen healthy exchange of ideas from different sectors that have led to revolutionary growth of existing companies and witnessed the evolvement of newer ones.
Chic working environments with lots of add-on facilities help create the right kind of mood and ambience for the young minds to focus on their work. With facilities like in-house gym and fitness centre and cafes, working professionals can not only able to manage their work lives better but also take care of their personal health and fitness.

Wizworks – creating the right environment for productive work

One of the most premium office leasing companies in the country today, Wizworks’ latest co working office space for rent in Delhi & NCR is an example of how a prolific work environment can successfully impact productivity levels and performances.

Offering to its loyal as well as one-time users some exclusive facilities including serviced office spaces that have been designed and created using latest technology meant to make the work of their clients easier and faster. Smart layout and planning of each nook and corner of the private office space for rent has been done with the objective of encouraging the old and young, experienced and inexperienced to meet and innovate, work and play, achieve and celebrate the success. It is just the right kind of setting for people to blend and pursue their professional commitments with personal ambitions, deliver on existing projects while brainstorming and pitching to create new ones. Meeting like-minded people and exploring opportunities to grow together is what is the best feature of such an amicable atmosphere.

Their facility and co working property for rent in Noida is equipped with a full-serviced reception and front office that facilitate guests of their customers in the most professional manner. Manned twenty-four hours by security personnel, the place provides for secure interactions, meetings and transactions that helps it stand out in the co working and business centre sector of the region.

Providing visitors a choice from dedicated workstations to executive cabins, single office space for rent, conference and meeting rooms and even the option of office space at night, their rent for office concept works in the best interest of their customers at all times, twenty-four hours a day, seven days a week, three sixty-five days a year.

Proper planning has been done by this office space rental agency paying great attention to details like the recreation for their precious customers. Most conventional space providers offer a health club or gym facilities in-house that also provides a break from the tiring work schedules to clients. Going a step further, the co-workingoffice space available for rent at Wizworks provides high-tech gaming zones that are equipped with games that only provides break from work but also serves as great places for people from different industries and sectors to chill together, play together and bond together. While the gaming room has some conventional games, it also has properly setup fast-tracked games on computers and LAN network that helps users break their monotony from work. Then there are separate breakout rooms where one can just walk in at any time of the day or night, can relax in solitary mode or with like-minded people. Often such conversations are geared from being simplistic and non-personal to covering personal, current and sophisticated topics.

The nap room at the centre is well-maintained so that guests who are working late or need to catch up on their sleep can rest well without the botheration of moving out and driving back to their homes or checking into a nearby hotel. Facilities like these at office building for leases are what distinguish class service providers from the mediocre ones. Then there are the catering services being provided by this co working space that helps take care of the food requirements of clients and their guests during normal working hours as well as at late hours. Along with this the basic tea and coffee vending machines in the cafeteria helps users to keep filling and re-filling their cups and take a one-off break during stressful hours of the day.

One the newest addition to the services and range of facilities being provided by the service provider is that of a crèche facility. A well-maintained, well-serviced and in-house area for children and babies while their parents work provides plenty of respite to working mothers who are often required to give up their careers because of their family commitments.

While the basic housekeeping and maintenance related work is provided by Wizworks, they also ensure to provide admin related assistance especially in the field of IT related support and solutions. Offering high-speed internet connectivity to users, the admin staff is also well-experienced and knowledgeable about issues and problems associated with working of computers and smart devices.

Providing support in the form of printers and photocopiers in-house, Wizworks also handles the courier and mails on behalf of their clients making it a wholesome experience for working professionals.

Occupying building space for lease is a great idea and the way to move forward in this super-fast high-tech competitive world. Individuals and corporates that decided to go ahead with working in a shared office space are gifting themselves with some great cost saving opportunities as well as avenues to work better and bond closer with others working under the same roof.