At 27%, Mumbai records highest rise in co-working space rentals since FY20

The office work culture has undergone a profound modification in the last decade, particularly after the pandemic. Co-working ecosystem has craved out a niche within the traditional commercial office work space. Amidst this changing scenario, prominent cities have seen a growing demand for flexi office spaces, leading to a decent rise in average rentals per seat. 

In the latest report by MyHQ by ANAROCK, the average monthly rental per flexi space seat, has seen the highest jump (of 27%) in Mumbai in the last four years. The average monthly rentals per flexi space seat in Mumbai stood at ₹15,900, as of FY24 while back in FY20, it was ₹12,500 per seat.  

Followed by Mumbai, the top 4 prominent co-working cities with highest jump percentage stands are Gurugram (19%), Delhi (18%), Bengaluru (15%), and Noida (14%).

Utkarsh Kawatra, Senior Director - MyHQ by ANAROCK was noted saying “The Asia-Pacific region has emerged as an important market for co-working spaces in the last few years, and demand is growing rapidly. Hong Kong, China, India, and Japan are among the large centers that are witnessing massive growth. India, being a hotbed for startups across various sectors and industries, is witnessing steady demand for flexible, economical workspaces.”