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The above graph represents the top Indian cities by flexible space stock and penetration rate in 2019. Interestingly, the overall flexible space stock in India increased a strong 60%, from around 19 million sq. ft. in 2018 to 30 million sq. ft. in 2019. With 8.5 million sq. ft., India’s IT hub Bangalore dominated the flexible office space stock in 2019, followed by Delhi-NCR and Mumbai. On the other hand, flexible space penetration was the highest in Delhi-NCR, followed by Hyderabad and Bangalore during the same year.
Flexible space operator classifications:
Business Center: A formal environment with some private cabins or spaces.
Coworking: On a membership or per desk basis, Coworking offices provide a sociable working environment where people can work, network, collaborate with each other. Coworking spaces mainly focus on startups, events, community building, etc.
Managed Spaces: A managed office is a fully customised, furnished and serviced private or semi-private facility, maintained and operated by an operator for a client who agrees to pay a composite fee for its use.
Hybrid Spaces: It is a fully serviced space consists private cabins, dedicated or open desks, meeting rooms, etc. that lease out to various clients on per workstation basis for flexible tenures. This is mainly for enterprise clients.
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