+
Startups to lease 30% more office space in 2022-24 across 6 cit
Real Estate

Startups to lease 30% more office space in 2022-24 across 6 cit

The leasing of office space by startups is likely to increase 30% during 2022-24 across six major cities as against the previous three years, as per a report.

In its joint report, real estate consultant Colliers India and data analytic firm CRE Matrix told the media that startups are likely to lease approximately 29 million sq ft during 2022-24 against 22.4 million square feet in 2019-2021.

The six cities tracked in the report are Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru, Chennai and Hyderabad. The demand will be led by fintech and logistics startups as they have gained momentum post-pandemic due to improved digital adoption and e-commerce boom, Colliers India told the media in a statement.

Improved digital adoption, availability of a deep talent pool, favourable government policies and funding options from venture capitalists are steering the development of startups. Improved entrepreneurship and rapid growth of startups have been one of the most notable trends in Indian office space, Colliers India CEO Ramesh Nair told the media. Startups presently occupy 10% of the office space, he added. As startups pick up pace, landlords ought to consider the business life cycle and work preferences of the startups to capture the real estate demand from startups to drive more value.

Abhishek Kiran Gupta, CEO & Co-founder, CRE Matrix, told the media that startups occupied 49.7 million square feet of office space at the end of the last year. Around 30 million sq ft of office space in India is occupied by co-working or flex players, and a large share of this is occupied by start-ups.

Image Source

Also read: BCG leases 100k sq ft of office space in Bandra-Kurla Complex

The leasing of office space by startups is likely to increase 30% during 2022-24 across six major cities as against the previous three years, as per a report. In its joint report, real estate consultant Colliers India and data analytic firm CRE Matrix told the media that startups are likely to lease approximately 29 million sq ft during 2022-24 against 22.4 million square feet in 2019-2021. The six cities tracked in the report are Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru, Chennai and Hyderabad. The demand will be led by fintech and logistics startups as they have gained momentum post-pandemic due to improved digital adoption and e-commerce boom, Colliers India told the media in a statement. Improved digital adoption, availability of a deep talent pool, favourable government policies and funding options from venture capitalists are steering the development of startups. Improved entrepreneurship and rapid growth of startups have been one of the most notable trends in Indian office space, Colliers India CEO Ramesh Nair told the media. Startups presently occupy 10% of the office space, he added. As startups pick up pace, landlords ought to consider the business life cycle and work preferences of the startups to capture the real estate demand from startups to drive more value. Abhishek Kiran Gupta, CEO & Co-founder, CRE Matrix, told the media that startups occupied 49.7 million square feet of office space at the end of the last year. Around 30 million sq ft of office space in India is occupied by co-working or flex players, and a large share of this is occupied by start-ups. Image Source Also read: BCG leases 100k sq ft of office space in Bandra-Kurla Complex

Next Story
Infrastructure Urban

APCRDA Approves Rs 9.04 Bn to Upgrade Infrastructure in 29 Amaravati Villages

The Andhra Pradesh Capital Region Development Authority (APCRDA), chaired by Chief Minister N Chandrababu Naidu, has approved Rs 9.04 billion for addressing key infrastructure gaps in 29 villages within Amaravati’s greenfield capital area, announced Municipal Administration Minister P. Narayana at the 51st CRDA meeting.The funds will be used to upgrade critical facilities including roads, drains, drinking water supply, sewerage systems, and street lighting. A detailed assessment revealed a 30 per cent shortfall in water supply, a total absence of sewerage infrastructure, a 40 per cent defici..

Next Story
Infrastructure Transport

Cabinet Approves Phase-1B of Lucknow Metro Rail Project Worth Rs 58.01 Bn

The Union Cabinet, led by Prime Minister Narendra Modi, has approved Phase-1B of the Lucknow Metro Rail Project in Uttar Pradesh. This phase covers an 11.165 km corridor with 12 stations—7 underground and 5 elevated—extending the city’s metro network to 34 km upon completion.Phase-1B targets the dense, historic parts of Lucknow, enhancing connectivity across key commercial, healthcare, tourist, and culinary hubs. Important areas served include Aminabad, Yahiyaganj, Pandeyganj, Chowk, King George’s Medical University, and landmarks like Bara Imambara and Rumi Darwaza.This expansion prom..

Next Story
Infrastructure Transport

Major Upgrades Planned for Tamil Nadu’s National Waterways

Tamil Nadu is poised for significant infrastructure upgrades across its National Waterways (NWs), with a focus on developing jetties, cargo hubs, and cruise tourism circuits, according to the Ministry of Ports, Shipping and Waterways. These projects aim to promote sustainable inland water transport and boost regional economic activity.Key projects include the development of Buckingham Canal (part of NW-4), with jetties planned at the following locations:Mahabalipuram to Ediyur BridgeCooum River near Marina BeachPulicat LakeEnnore Port to ETPS, specifically for cargo operationsOther National Wa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?