Bengaluru, the Silicon Valley of India, is the second fastest growing metropolis and ranks fourth in terms of GDP. Most of the real estate investors look at Bengaluru as a gold mine, waiting to be tapped.
Fast devlopment in Bengaluru
Since many IT companies and technology ventures have their offices in Bengaluru, the pace of modernisation is rapid. There is overwhelming competition among the businesses and this has led to shortage of office space. One must pay high rates due to this development in technology in all spheres of the life in Bengaluru. Some of the most expensive locations in Asia are present here. One is Brigade’s Road, which is Asia’s third most expensive street and another is Mahatma Gandhi Road that ranks thirteen in Asia.
For sure, investing in a business centre in Bangalore will prove successful. You have good connectivity to the business hub and get all the facilities that go with it. By renting out the office space, one can make a huge profit on the investment. The office space crunch has led to the birth of many innovative office spaces.
Different types of office spaces
First, we have the shared office space where more than one office shares the space in the business centre. This usually happens when the location is ideal for business but the rent is high. Then, business ventures use the shared space and this lowers expenses. Since the space needed for a shared office is lesser than that of a normal office, the extra space is let out to another business firm.
Choose options for office spaces
If this does not fill up the remaining space in business centre then the owner of the business centre will look for another business venture to rent out its space. When the space is filled up, the business centre owner gets the maximum profit. This brings us to the next scenario.
This is the coworking space where solo artists, small business start-ups, bloggers, and students use the office space for their work. This obviously is much cheaper than the shared offices but provides the same office facilities. One will have secretarial services, water, electricity, printing services, fax and courier, and computers. Internet connectivity is available 24×7 as is pantry services in a few offices.
If the business centre is not situated in a prime locality, then one must choose to let it out as a coworking space. This will bring in many more takers and your investment will prove fruitful. Or you cold segregate the areas such that the main office space is let out for the shared office to accommodate two or three concerns. Then, the remaining space is free for use as coworking space.
So, you can mix and match the above models and let out the office space. You can vary the people who rent the office spaces as per the season. In addition, you can make choices about which business you want on your premises.
One can consider Bengaluru as prime investment zone due to the availability of high technology alongside big business. Getting office space here is difficult. One needs to capitalize on what one has or spend a lot of money.