Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Engineering, manufacturing and technology led the <keyword id="1039552" type="General" weightage="20" keywordseo="office-space-absorption" source="Orion">office space absorption</keyword> levels in <keyword id="12864" type="General" weightage="20" keywordseo="chennai" source="Orion">Chennai</keyword> as it grew by 107% between April and June 2023 period, a study undertaken by <keyword id="897106" type="General" weightage="20" keywordseo="cbre-south-asia" source="Orion">CBRE South Asia</keyword> Pvt Ltd said on Friday. Accordingly, the absorption level of office space stood at 2.5 million square feet space between April and June 2023 while it was 1.2 million sq ft during the same period of last financial year in the capital. Engineering and manufacturing together accounted for 45 % of office space, followed by technology 18 % and flexible office space operators at 16 % while remaining was contributed by other sectors. The majority of the office space absorption was small-size (less than 50,000 sq ft) deals, the study said. At the pan-India level during the April-June 2023 period, <keyword id="6861353" type="General" weightage="20" keywordseo="office-space-supply" source="Orion">office space supply</keyword> grew by 6 % and Hyderabad, Bengaluru, and Chennai accounted for the majority of the absorption levels. The non-Special Economic Zone (<keyword id="45393" type="General" weightage="20" keywordseo="sez" source="Orion">SEZ</keyword>) segment continued to dominate development completions during April-June 2023 period while SEZ segment accounted for 24 % of the new developments. Key transactions recorded in the city during April-June 2023 period include Agilysys which leased 181,800 sq ft in Ramanujan IT park, IndiQube leased 1,65,000 sq ft in Alpine and Cholamandalam Finance leased 80,000 sq ft in Tamarai Technology Park, the study said.

Office space supply up 6% in April-June 2023 led by Hyderabad, Bengaluru & Chennai: CBRE report

<ul><li>Pune has the lowest office vacancy at 8.5% as compared to other cities in India, as per <keyword id="7746659" type="General" weightage="20" keywordseo="ANAROCK-research" source="Orion">ANAROCK research</keyword> report.</li><li>As tech companies are choosing to adopt a hybrid work model, it is clear that IT-driven cities are now restricting their new office stock.</li><li>In comparison to non-IT cities, Delhi-NCR has the highest vacancy of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> at 28.5%.</li></ul>The information technology (IT) sector remained the least affected industry during the COVID-19 pandemic, however, due to hybrid work model requirements for office space went down. The latest ANAROCK research indicates that the IT hubs of India — Pune, Bengaluru, <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword> and Hyderabad — currently have lower Grade A office vacancies. Pune currently has the lowest vacant office spaces at 8.5%, followed by Chennai with 10.35%, Bengaluru with 11.25% and Hyderabad with over 15%. As tech companies are choosing to adopt hybrid work models, it is clear that IT-driven cities are now restricting their new office stock. “Many large and mid-size occupiers continued or renewed their leases during the pandemic because their business either saw no major impact or even grew during COVID-19. The cost of re-establishing or taking up new office space is costlier than holding on to existing leased spaces. Also, real estate costs are largely factored in IT companies' billing rates, so letting spaces go can lead to a significant change in top-line projections,” the report says. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of Grade A office </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vacant office space </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi-NCR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">128 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Metropolitan Region </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">168 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">55 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.50% </td></tr></tbody></table>Source: Anarock Research report In comparison to non-IT cities, Delhi-NCR has the highest number of vacancies at 28.5%, followed by Kolkata with 23.50% and Mumbai Metropolitan Region with 16%. “The IT/ITeS sectors boomed during the pandemic. While most companies operated in <keyword id="9487588" type="General" weightage="20" keywordseo="wfh-mode" source="Orion">WFH mode</keyword>, many large and mid-sized corporates decided to hold on to their office spaces. At between ₹58 and ₹78 per sq. ft. per month, the average monthly office rentals in all four IT/ITeS driven cities are comparatively lower than in NCR and MMR, where they hover between ₹80 and ₹126 per sq. ft./month,” said Anuj Puri, Chairman at Anarock Group. According to the data, Bengaluru has the maximum office stock of about 168 million square feet, followed by Delhi-NCR at 128 million square feet, and MMR at 108 million square feet. SEE Also: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/indias-tech-talent-pool-is-from-vizag-indore-and-warangal-thats-where-infosys-tcs-and-others-are-heading/articleshow/92351346.cms">India’s tech talent pool is from Vizag, Indore and Warangal — that’s where Infosys, TCS and others are heading</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/international-yoga-day-2022-here-are-five-yoga-asanas-for-covid-affected-people/articleshow/92355705.cms">International Yoga Day: Five yoga asanas that help cope with Covid</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/recession-in-the-us-could-drop-oil-prices-and-benefit-indian-economy-as-per-economists/articleshow/92361936.cms">A US recession could provide Indian economy the relief it needs</a>

IT cities have the least number of vacant office spaces whereas metros like Delhi and Mumbai have the most

<keyword id="897477" type="UNKNOWN" weightage="100" keywordseo="India-Office-Market">India office market</keyword> remained strong in the second quarter of 2016, with 10.4 million sq ft of <keyword id="1632341" type="UNKNOWN" weightage="100" keywordseo="Office-absorption">office absorption</keyword> adding to about 19.2 million sq ft Year-to-date (YTD). 
 
The percentage for this increase in office absorption was 18% increase QoQ, in which Bangalore turned out on the top place, contributing a 30% share. The start-up capital of the country was followed by NCR (21%), Hyderabad (20%), Chennai (15%), Mumbai (8%), Pune (5%) and Kolkata (1%) in the list. 
 Out of the leading transactions, a major one was <keyword id="3495922" type="UNKNOWN" weightage="100" keywordseo="TCS-expansion">TCS expansion</keyword>, because of which it leased over 4,00,000 sq ft in Noida and 3,75,000 sq ft in Bengaluru. Similarly, IBM and Value Labs expanded their footprint in Hyderabad, and took about 3,00,000 sq ft and 2,20,000 sq ft of space on lease, respectively, in the Western suburbs, thus contributing to the rise in office absorption. 
 
Talking of Noida, leading mobile manufacturers like Vivo Mobile and Oppo Mobile contributed in its newfound position as an Electronic manufacturing hub. While Vivo took up 2,50,000 sq ft of space there, Oppo took up 1,60,000 sq ft. 
 
"At the macro economy level, couple of concerns were raised in Q2 2016, such as uncertainty in direction of monetary policy on account of recent change in leadership at RBI and international happenings such as BREXIT. Although, both these changes were unexpected, the impact on the business outlook in India is likely to be miniscule. However, in last couple of months, increased input costs contributed to the softer growth rate recorded in manufacturing production and services activity. Owing to this, we ought to alter our strong outlook for office market a little and expect marginal improvement in leasing activities for rest of the year. New supply is likely to remain restricted in most of the cities which will put an upward pressure on asking rents in preferred micro markets", Surabhi Arora, Senior Associate Director of Research at Colliers India, told <a href="http://economictimes.indiatimes.com/industry/services/property-/-cstruction/office-absorption-records-18-jump-qoq-colliers-report/articleshow/53224358.cms">ET</a>. 
 
<a href="http://www.hocacapital.com/wp-content/uploads/2015/07/modern-new-office-building-1920x1080.jpg">Image source</a>

Office absorption jumps 18% QoQ, Bangalore tops the charts

<ul><li>The <keyword id="9185181" type="General" weightage="20" keywordseo="demand-for-office-space" source="Orion">demand for office space</keyword> continues to grow by at least 62% in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, as per a report by <keyword id="6376943" type="General" weightage="80" keywordseo="cbre" source="Orion">CBRE</keyword>.</li><li> But the demand is going up especially for environmental, social and governance or ESG-compliant offices or green buildings</li><li>This trend is likely to emerge as companies primarily opt for flexible working patterns post the pandemic as employees want a good mix of remote working and work from the office.</li></ul>It is official now that Indian employees are not willing to ‘go’ back to offices like they did before the pandemic. To suit this, 73% of companies or <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> renters are evaluating hybrid working arrangements. Overall, the demand for office space continues to grow by at least 62% in India, as per a report by CBRE, a real estate investment firm. Most companies intend to increase the size of their real estate portfolios over the next three years. But the demand is going up especially for environmental, social and governance or ESG-compliant offices or green buildings, the report says. Around 52% of the respondents of a survey said that they want to relocate to an ESG-compliant building. Another 7% are willing to relocate to such a place even with a premium rental. And they are willing to rent to suit their flexi strategies. “While one-third of the respondents indicated consolidation in fewer locations, along with meeting flexible demand via coworking spaces as part of their flexible portfolio strategy,” says the report. This trend is likely to emerge as companies primarily opt for flexible working patterns post the pandemic as employees want a good mix of remote working and work from the office. “Return to office for several corporates in India is already underway. However, with the widespread adoption of hybrid working since the pandemic, many companies are still considering the degree of flexibility needed to enhance employee productivity and connectivity,” said Anshuman Magazine, chairman &amp; CEO of India, South-East Asia, Middle East &amp; Africa at CBRE. <cmsannotation type="cmsannotation" annotationid="Companies have retained the seating arrangement" comment="subhead" text="Companies have retained the seating arrangement">Companies have retained the seating arrangement</cmsannotation> The report says that offices are looking to enhance the appeal of ‘me’ spaces and create more flexible ‘me /we’ spaces. They are also adopting more activity-based working, hotdesking, and targeted mobility. Hot desking is an office system that involves multiple workers using a single physical workstation or surface during different time periods. Among the flexible seating options available, hot desking has grown by 100% over the past two years. As many as 44% of the companies surveyed retained the seating arrangements, as of 2022. “A key priority for office occupiers in India would be to tailor workplace strategies to ensure that their offices are suitable for flexible working. Owing to this, CBRE has observed a shift from fixed to flexible workplace configurations, which is likely to continue going forward,” said <keyword id="506097" type="General" weightage="50" keywordseo="ram-chandnani" source="Orion">Ram Chandnani</keyword>, managing director, advisory and transactions services at CBRE India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejet-shares-plunge-sharply-due-to-several-technical-malfunctions-and-rising-jet-fuel-prices/articleshow/92742788.cms">SpiceJet: In the eye of a perfect storm</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo allegedly sent ₹62,476 crore to China to evade taxes in India – here’s everything you need to know</a>

The post-pandemic work space would be greener and more ‘tailor-made’

<keyword id="1039552" type="UNKNOWN" weightage="100" keywordseo="office-space-absorption">Office space absorption</keyword> fell to 14.5 million sq ft in India's top eight markets in the first half of 2016, contracting 18% as compared to that a year ago, says a report by Cushman &amp; Wakefield, adding that this is the first decline after six consecutive quarters of expansion. 
 
The report has attributed this decline to shortage of office space in Bengaluru, Pune, Chennai and Delhi-NCR, leading to a mixed trend in the net absorption in the first six months of 2016. 
 
Hyderabad, Delhi-NCR and Ahmedabad saw 10-55% y-on-y growth, while on other hand, Kolkata, Bengaluru, Chennai, Mumbai and Pune suffered 34-51% decline during this period. 
 
The percentage fall in office space absorption can also be cited to higher levels of activity that Mumbai, Bengaluru, Chennai and Pune witnessed a year ago. However, experts are of the opinion that this trend is likely to change in the second half of 2016 because the economic conditions look hopeful. 
 
"The first half of the year has been a mixed bag for the key markets, with large volume locations like Bangalore and Mumbai seeing a drop in net absorption owing to slower take up of space by IT/ ITeS and BFSI (banking, financial services and insurance) sectors. This, however, is going to be only temporary as the second half looks promising," Anshul Jain, MD-India at Cushman &amp; Wakefield, told <a href="http://economictimes.indiatimes.com/wealth/real-estate/office-space-absorption-falls-18-per-cent-in-h1-of-2016/articleshow/53037704.cms">ET</a>. 
 
He added that a large number of companies have committed space after foreseeing that there is a limited availability of quality stock in selected markets, pushing up absorption in the coming six months. 
 
<a href="http://finlace.com/realty-updates/wp-content/uploads/office-space.jpg">Image source</a>

Office space absorption fell for the first time after six quarters of expansion

<div class="KonaFilter image-container float_right"><div class="image on-image">Corcoran</div></div>The investment bank called <keyword id="50209" type="CITY" weightage="60" keywordseo="Lehman-Brothers">Lehman Brothers</keyword> may be dead and gone, but the legacy of the Lehman family lives on. The midtown home of Philip Lehman, son of the founder of Lehman brothers, was just sold for $40 million as a "trophy <keyword id="181150" type="UNKNOWN" weightage="60" keywordseo="Office-space">office space</keyword>", <a href="http://therealdeal.com/blog/2013/11/05/philip-lehman-mansion-sells-for-40m/">according to The Real Deal. </a>
The gorgeous Beaux-Arts home was commissioned by Philip to be built in 1899 by John Duncan, one of the best known American architects of the 20th century. It was later home to Philip's son Robert, who took over the reins of the company in 1925. Both Philip and Robert were avid art enthusiasts and philanthropists. 
<a href="http://www.7west54.com/#!history/c1c9t">According to Corcoran,</a> Robert made the house a gallery that housed the family's famed art collection, which included pieces by Rembrandt, Goya and Renoir. Robert bequeathed the collection to the Metropolitan Museum of Art. 
The broker, Paula Del Nunzio told the Wall Street Journal that the building "starts at museum quality and goes far beyond."

A Lehman Brothers Founder's Historic Mansion Just Sold As 'Trophy Office Space' For $40 Million

<ul><li>According to Edelweiss, office spaces demand in 2019 so far has grown by 128% compared to the previous year. </li><li>Co-working space’s share in overall leasing rose from 10% to 13% during the calendar year 2019 YoY. </li><li>There are currently over 400 co-working centres across India from 200 players. </li></ul>In the Indian real estate sector, office spaces continue to be a booming segment despite <keyword id="36141" type="ORGANIZATION" weightage="20" keywordseo="economic-slowdown">economic slowdown</keyword>. And co-working spaces is its best performer. According to a report by Edelweiss, demand for office spaces in 2019 grew by 128% from last year. This is aided by growth in the IT sector, along with rising number of global companies setting up shop in India. Bengaluru is now the top market in Asia for technology occupiers. The report further said that co-working space’s share in overall leasing rose from 10% to 13% during the calendar year 2019. Co-working spaces in India have been growing fast with over 400 centres across India by 200 players. Real estate consultant firm Anarock expects the number to jump by two-three times in the next two years. “Co-working centres are about 15-25% cost efficient for startups and firms as they save money in office rentals, property maintenance and fixed capital investments. Anarock expects total space occupied by co-working spaces to rise by at least 30-40% per annum,” said the report. In India, co-working spaces opened up in almost every other corner of big cities and are now also entering Tier 2 and 3 cities. They have found favour with entrepreneurs mainly for convenience, affordability, and a place to network and become a part of a community, without having to invest in real estate. According to a report by property consultant Knight Frank, as of 2018 there were about 200 co-working spaces in India, with the likes of <keyword id="2918346" type="PERSON" weightage="20" keywordseo="WeWork">WeWork</keyword>, Regus, Awfis etc., being the most popular. OYO has entered this segment after it acquired Innov8 for $30 million in July 2019.

Office spaces grow despite economic slowdown, with co-working being a rising star

IT firms and ITes emerged as biggest office space occupiers in 2015, with Tata Consultancy Services (<keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword>) leading the pack. 
 TCS occupied largest office space occupier at 1.8 million sq ft in Mumbai, overtaking <keyword id="6358918" type="PERSON" weightage="20" keywordseo="Deloitte">Deloitte</keyword>. In 2014, Deloitte took office space of 1.3 million sq ft space in Hyderabad. 
 
Reportedly, IT firms and ITeS accounted for 56% of the demand for office space in 2015. 
 
"We continue to see strong demand from IT-ITes firms that continue to grow and are looking to sup offices closer to mass transport systems to reduce commuting time," Amit Grover, national director-office business at DLF, told ET. 
 
Apart from TCS, Accenture occupied 4 lakh sq ft in Hyderabad and 3.5 lakh sq ft office space in Chennai in 2015. 
 
"This year we will also see demand for build-to-suit properties, especially from the larger IT occupiers. While the absorption in 2015 is similar to 2011, it is distributed across new and old buildings; previously it was largely in newly completed buildings," Anuj Puri, chairman at JLL India, told ET.

TCS emerges as largest office space occupier in 2015

<ul><li>The pandemic has completely changed how and where we work, forcing companies to be more flexible and to imbibe contemporary ways of working. </li><li>As businesses seek to return to some form of pre-Covid buoyancy and start to think about the right mix of work-from-home and work-from-office, they can't just return to their former workplaces without reimagining the experience in its entirety for employees.</li><li>At some point, companies will have to go back to their office and collaborate physically.</li><li>So, as companies rethink workspace design for a post-COVID world, we reached out to a few design experts to understand how the concept of workspaces has changed after COVID-19 and what the future offices would look like once we resume normalcy. </li></ul>It was in this month last year that India found its first few patients of Coronavirus and who knew the world would never be the same again. What followed was a bunch of emails from our HR teams announcing cancellations of conferences, there was a ban on international flights and uncertainty started lurking around. A few days later, on March 24, 2020, PM Narendra Modi ordered a nation-wide lockdown. With it, offices and public transport was shut down and all Indian companies had to shift their operations onto a cloud and start working from home. A year later, we are used to working from home in our pajamas and jumping from one Zoom call to another has become our daily routine. We will soon have to bid adieu to many privileges that work-from-home has offered us and a recent rant by Instagram user Harjas Sethi highlighted these advantages of working remotely. Her video quickly went viral for its highly relatable content. Even organisations have realised that the lockdown was a boon in a way of demonstrating that remote working can be a success as it reduces capital and operational costs. However, with the roll-out of the COVID vaccine and a dip in infection rate than before, many organisations have started slowly returning to offices and some have started planning to make their environment more comfortable and safe for their employees when they do return to work at full occupancy. Businesses are trying to figure out the right balance between work from home and office. The traditional approach of everyone having their own desk is now gone, perhaps forever. <cmsannotation type="cmsannotation" annotationid="How organisations and agencies are preparing for this new world order" text="How organisations and agencies are preparing for this new world order">How organisations and agencies are preparing for this new world order</cmsannotation> With vaccines being rolled out later this year, companies are planning to combine work-from-home and work-from-office to make the future of the workplace hybrid. Kiran Khadke, Co-Founder &amp; Creative Head of Hyper Connect Asia has made up his mind about adopting a hybrid-model post-pandemic. He said, “We are actually rethinking the way we would conduct our office. The whole WFH situation made us realize that a lot of things can be managed over a video call. So in the times to come, we plan to work on a hybrid model, where not everyone has to come to the office every day. Teams will have to plan their office meets, to align crucial projects and then they can WFH Considering this, we will have a flexible office structure with more conference rooms, spaces for collaboration and no fixed workstations. With that, we are also getting our tech upgraded to be able to work from anywhere.” Shashwat Das of Almond Branding helped us look at the brighter side of 2020. He had always dreamt of running a location-independent business, where his employees can work remotely from anywhere in the world as long as they are connected virtually, and his dream seems more achievable now. He said, “Earlier, one of the purposes of an office was access to shared infrastructure like computers, printers, xerox machines, etc. Now with documents moving to cloud with secured access, the focus shifts to building social bonds, foster corporate culture and host clients. While the trend of paperless offices was just picking up, the pandemic has fast tracked the transformation by leaps and bounds. Some of our traditional style working clients, who would otherwise insist on an invoice hardcopy citing audit reasons, have now become comfortable with e-invoices. That’s such a good news for us and mother earth. I think work from anywhere rather than WFH will be the future.” <cmsannotation type="cmsannotation" annotationid="Rethinking design for open space offices and co-working spaces" text="Rethinking design for open space offices and co-working spaces">Rethinking design for <keyword id="10851343" type="UNKNOWN" weightage="20" keywordseo="open-space-offices">open space offices</keyword> and co-working spaces </cmsannotation> Even if employees do go to the office for 3 days a week, businesses can't just return to their former workplaces without reimagining the experience in its entirety for employees. Co-working spaces have already taken a hit as employees don’t feel safe sharing desks and common areas with unknown people as they used to do earlier. Before COVID, the advertising industry had the culture of working out of open spaces. There are many Indian agencies like Leo Burnett, 82.5 Communications who didn't believe in having glasses and closed spaces in their offices. However, to facilitate social distancing, it is now important to rethink interiors of our offices and add more walls. So, how should they go about redesigning their offices? Ashwini Deshpande, Co-founder &amp; Director, Elephant Design, answered,“It is very difficult for me to visualize how people work in cubicles or glass spaces inside tall towers. We chose to work out of Pune for better quality of life and air. Our studios are spread across two bungalows and an open space in-between. We have a casual outdoor cafe and many other outdoor nooks. No matter where you are working, an open outdoor space with greenery and wifi is always a few steps away. Agencies should move to open spaces outside Mumbai. This may sound radical, but going back to my earlier point, companies need to create spaces just for those activities that need to be done together and not for anything that is perfectly done remote.” <cmsannotation type="cmsannotation" annotationid="What should the offices of future look like" text="What should the offices of future look like">What should the offices of future look like</cmsannotation> Following the pandemic, new considerations have come to light. The future of work will be new: environment-friendly, technologically-advanced and inclusive. Telling us what the <keyword id="10851341" type="UNKNOWN" weightage="20" keywordseo="future-of-offices">future of offices</keyword> should look like, Deshpande said, “We need to begin by rethinking the role of a fixed office/ workspace post pandemic. Work from home seems to have served well for most creative agencies besides many others. Every organization has had to rethink the workspace design. But only few would be able to change things significantly. I know of smaller studios, media teams, animation &amp; editing set-ups, publication houses, restaurants, coaching classes completely switching to remote working having given up their workspaces. Hybrid ways of working are being devised and spaces are being reimagined around activities that need people to come to office." Businesses are being advised to transfer physical records that dominate the workspace onto a digital cloud and rethink furniture that can prevent safe social distancing. Apart from altering physical social-gathering spaces like buffet sections and conference rooms, designing is also about developing a future-ready organisation that isn’t just about the physical space. Businesses need to apply design thinking into their daily operations to build a great working environment and connect office design to brand. After COVID, according to Lulu Raghavan, Managing Director, Landor &amp; Fitch India, the most progressive businesses will be thinking about the six imperatives of Workspace Design: culture, interaction, function, sustainability, architecture and technology. Raghavan said, “Workspace design is a deeper discipline and mindset that connects office design to brand. It dictates the journey, the overall experience and ensures that the brand’s values and function are reflected in the physical, human and digital space, much like retail. A well thought-through strategy on Workspace Design could help businesses to forge stronger relationships with their employees who in turn will become great brand ambassadors.” As uncertainty still continues to haunt our office corridors and our open-desks, it will be a challenge for companies to continue to foster their corporate culture and practices like employee training and development. Puneet Pandey, Strategy Head and Managing Partner, Open Strategy and Design said the element of uncertainty has been the biggest challenge that the pandemic imposed on our deeply inter-connected worlds. Pandey said, “Creating ‘physically distanced cohesion’ is going to be the trickiest problem to solve for business leaders in their organisations. Especially now that we are already a year into the post-pandemic world. There will be newer teams and newer expected behaviours and a whole lot of social tentativeness to punctuate an otherwise seamless flow of interactions inside our work-cultures. A sharply defined and well-designed internal culture acts as the internal compass and a vital behaviour guide, that make us hive-creatures continue to create and build even in the face of tentativeness Going forward, while organisations rethink their physical/virtual workspaces, leaders will place a lot more emphasis on communicating sharply defined cultural values within their organisation. This ‘cultural software’ will be key in ensuring predictable and productive outcomes possible in the coming times. " There will still be room for Zoom calls and virtual brainstorming sessions. Khadke said, “The future of offices should purely be a place to collaborate, to overcome the challenges that we face while working online. It may no longer be an everyday thing. Every aspect of the office (Design, Furniture, Tech, Facilities etc.) will be defined around this.” Using new technologies to facilitate social-distancing will be one of the key goals for organisations rethinking their workspace design. Das said, “Post the pandemic, hygiene considerations reign high and touch-free technology is going to become increasingly important in workspaces. Companies are re-imagining elevator designs and security access. They may also adopt a health screening process at the security gates. As more companies adopt the concept of remote working, decentralisation is an eventuality. Instead of asking everyone to travel to a single headquarter building, companies will have satellite offices or hubs that allow employees greater flexibility and choice. Simple practices like more frequent and visible cleaning schedules might contribute to a feeling of safety. Air-filters are getting installed in offices and regular air-quality assessments will become more important.” Experts said that the future-workspace design needs to be flexible enough to quickly adopt to meet tenant needs. Modularised designs will help in managing fluctuations in employee strength and technology will play an increasingly critical role in offices of tomorrow.

You Searched For "Office space" and got 9 results

Office space supply up 6% in April-June 2023 led by Hyderabad, Bengaluru & Chennai: CBRE report

PTI

IT cities have the least number of vacant office spaces whereas metros like Delhi and Mumbai have the most

Vaamanaa Sethi

Office absorption jumps 18% QoQ, Bangalore tops the charts

BI India Bureau

The post-pandemic work space would be greener and more ‘tailor-made’

Vaamanaa Sethi

Office space absorption fell for the first time after six quarters of expansion

BI India Bureau

A Lehman Brothers Founder's Historic Mansion Just Sold As 'Trophy Office Space' For $40 Million

Saranya Kapur

Office spaces grow despite economic slowdown, with co-working being a rising star

Sanchita Dash

TCS emerges as largest office space occupier in 2015

BI India Bureau

How are Indian organisations and agencies redesigning their office spaces for a post-COVID world

Karuna Sharma

Popular Keywords

Buying Guides