Growing Demand for Commercial Office Space in Noida
Demand for commercial office space in the country has witnessed a continuous rise in the past few years. And this is good news for the Indian real estate industry. The market for commercial space for rent is going so strong that the year that went by witnessed rising office rentals around the country. The top cities that are performing well in this segment are namely Bangalore, closely followed by Kolkata, Pune, and Chennai.
Noida is Catching Up with The Competition
When the talk comes to the Delhi-NCR region, it is not far behind. As it has witnessed a surge in both demand and supply of commercial property for rent in Noida. The capital has increased substantially in the last few years. According to a recent CII (Confederation of Indian Industry) forecast, the net absorption of commercial office space in India is projected to cross 39 million sq. ft. by 2020. Today, the concept of commercial office space is gaining popularity at a much faster rate. According to recent statistics, the absorption of shared office space was 1.11 million sq. ft. for the period of January-September'17. Whereas it almost tripled in the following year to 3.44 million sq. ft. for the same period.
Industries That Prefer to Use Leasing Offices
Trend watchers have revealed through a report that they have found that it is the technology-driven companies that have led from the front in their demand for commercial office space on rent. The BFSI (Banking, Financial Services, and Insurance) sector is closely following behind, while e-commerce companies are in the third position. Other sectors that are slowly warming up to the idea of furnished office space for rent include the manufacturing industries, research-oriented companies, consulting firms, call center seats on rent, and engineering companies.
Procapitus Business Park Commercial Office in Noida
An office space rental agency and promoter, Procapitus, has also opened its commercial office space in the SEZ hub of Noida. This company, like most other conventional providers of temporary office spaces and shared offices, works on a short-term or long-term membership or contracting payment module. Depending on the convenience of the customers. What differentiates Procapitus from other office space rental companies? Specifically in Noida, is both the ambience and the innovativeness the company has displayed towards the range of services it has offered to its clientele.
The Benefits of Renting Commercial Space in Noida
There are a lot of reasons behind an increasing number of corporates moving towards commercial office spaces available for rent. Some of them are:
1. It is a cost-effective option when compared to renting out complete office space as per the conventional model. The commercial office spaces may be small workspaces available for rent, but they help save money on a few parameters, including, of course, the size of the office space. From being fully furnished to taking care of basic amenities like power backup & electricity. There are a lot of ways that corporates are getting freedom from making high payments for various facilities.
2. Dynamic and flexible pricing suits most entities. No matter whether these businesses are start-ups or big corporations that have been around for decades now. Both of them want to save money wherever they can. Conventional office spaces are financially burdening in a lot of ways, and with rentals for commercial office space reaching never before seen heights everywhere, it is too taxing. Furthermore, conventional office spaces are, in most cases, the contractual leased types where the contract periods are of longer durations.
3. So, if your venture is not profitable and you want to move on. You still have to pay to honor the business contract. And keep paying on the money even when your business is not operational. On the other hand, commercial office spaces offer a lot of flexibility. Some of them come on monthly rentals. And some places charge daily too. This model is of great help as corporates now need to pay less. And they can take up commercial space for rent whenever they need it. And they can move out of the space without serving a requisite notice period or wait period.
4. In the past few years, the business world has seen a new trend. Wherein working with professionals from other industries has led to a healthy exchange of ideas. Amongst different sectors that have led to the revolutionary growth of existing companies. While also witnessing the evolution of new ones.
5. Chic working environments that are filled with a lot of add-on facilities play an important role in nurturing the right kind of mood and ambience for young minds. Enabling them to focus on their work with ease. With in-office facilities like gyms, fitness centers, and cafes, working professionals are not only able to manage their work lives in a better way. But also take care of their health and fitness. All within their office premises. This is of great help to companies that are fighting attrition propelled by a personal and professional life imbalance in their workforce's daily lives.
Conclusion
Individuals and corporates have decided to move ahead with working in a shared office space. Are giving themselves some great cost-saving opportunities. Along with avenues to work better and engage with others working under the same roof. One of the prime office leasing companies in the country today. Procapitus latest commercial office space for rent in Delhi and NCR (Procapitus Business Park) is an example of how a creative work environment can successfully impact the productivity levels and performance of your workforce.
Read more:- Commercial Office Space: Its Future and Benefits at a Glance
