Signing a permanent Office for Rent In Chennai is a big threat even for big organizations. It’s tough to identify how much space you will require in a year or two. And, if something goes wrong, you could be left with vacant desks and serious bills to pay. Similarly, entrepreneurs don’t feel like paying for real estate until they are sure that the project is going to fly.
At the instance of starting up, expenses of setting up an office can be a main stumbling block for entrepreneurs. But these days’ startups are finding rent-free workspaces. There are accelerators which provide this ability to start ups, usually in swap over equity.
But at present entrepreneurs are searching other types of free space close at hand.
Here are 3 types of workspaces that entrepreneurs can get for free:
- Community-Sponsored Space
To support fiscal development, chamber of commerce in a few cities offer free Commercial Property For Rent In Chennai with the help of local government and businesses. The programs need free office space with the assistance of local government and businesses. These programs need entrepreneurs to put forward a business idea and show its growth potential.
Possessing physical office space is very legitimizin. Startups are also stimulated to take part in group events.
- Co-working Space
Co-working spaces provide an office-like atmosphere free of cost to entrepreneurs, generally lone founders who would otherwise be working from their homes. Organizations interested in aiming entrepreneurs run these competencies, and some have an application process. The shared space also gives a routine to entrepreneurs and keeps them from going unoccupied at home. But these are unlike regular office. Most co-working spaces have big tables, making it difficult to make phone calls or hold meetings due to noise level. You also cannot add employees easily because of inadequate space and shortage of dedicated desks.
- University Space
To develop entrepreneurship on campus, a lot of universities provide free Furnished Office Space for Rent in Chennai through on-campus incubator programs. Claimants must offer a practical business strategy to meet the criteria for space, and nearly every university incubators need that at least one member of the startup be an alumnus or student.
Bangalore exceeds office demand
The annual Cushman & Wakefield (C & W) and Global Real Estate Institute (GRI) report entitled “Embracing Change – Scripting the Prospects of Indian Real Estate estimates that total commercial office space should be approximately $ 200 million Of square feet in the 7 major cities against a slightly higher offer of 243 million square feet.
The report considered demand and supply for Mumbai, NCR, Chennai, Bangalore, Pune, Hyderabad and Kolkata, in which the Cushman & Wakefield Research team projected demand and supply for the 2011-2015 period.
Bangalore will observe peak demand of approximately 57.3 million square feet, followed by NCR (34.4 million square feet) and Mumbai (33.9 million square feet). However, during this period, Hyderabad, Chennai and Calcutta are expected to see an improved growth rate compared to the others.
The total estimated supply for the era of the 7 best cities will be only 243 million square feet. That is greater than demand by 17%.
With the Bangalore exemption, where demand exceeds supply, all other cities are expected to experience some oversupply.
In Mumbai, supply is expected to exceed demand by 125% by the end of 5 years and therefore some downward trend in prices is expected.