Young Millennials in Delhi and NCR are exploring shared living and office spaces
01
Aug

Shared spaces and career success: How the two are linked in the Delhi/NCR region

Shared spaces and career success: How the two are linked in the Delhi/NCR region

With tech startups, young designers, straight-laced financial institutes and retired consultants, shared spaces are now more diverse than ever before. In a booming business hub like the Delhi-NCR region, this diversity is extremely apparent.

Being the capital city of India, Delhi is home to a lot of large corporations and international firms, many of whom are taking advantage of the conveniences of coworking spaces. Companies like Ernst & Young, Rolls Royce India and Thomson Reuters swear by the versatility and flexibility of working from shared spaces, located at the heart of Delhi’s central business district. And of course, startups still favour coworking spaces too. Its economic and infrastructural advantages make the Delhi-NCR region particularly attractive for entrepreneurs — in 2018 alone, Gurgaon received $3,046 million in funding for its 55 new startups1. The cost efficiency and operational benefits of coworking spaces remain important factors that contribute to the success of these startups.

But there’s yet another reason why shared spaces find huge favour here. The Delhi-NCR region is also a thriving hub of opportunities. About 200,000 to 300,000 people migrate here every year — many of them moving for better job prospects and higher education2.  Let us look at how shared spaces operate as an indispensable asset for this demographic.

Coworking spaces

As anyone living in Delhi-NCR would know, going from one end of the region to the other is no mean feat. Distances are long and traffic is brutal — and if you live in Gurgaon while your workplace is in Noida, it’s a hurdle you need to cross every day. Keeping this in mind, many companies allow their employees to work remotely a few days a week, provided that they can guarantee productivity and connectivity. However, those who are new to the city may not yet have a great work set-up at home, which forces them to forgo this benefit.

Working from a coworking space is a great alternative for these employees. With high-speed WiFi, cosy work nooks, power backup to ensure continued connectivity, and private meeting rooms that can be booked as needed, they make for a convenient, cost-effective solution. In fact, many big companies strategically lease out coworking spaces in the NCR region, for the benefit of the employees who live in those areas. Skootr, a plug-and-play workspace provider in Gurgaon, operates on a model that really makes this a viable option for companies. The spaces it offers do not have all have a homogenous office design. Instead, it actually customises a space for each company based on their specific needs and requirements. This makes it easy for companies to retain their unique work culture and vibe, even in this shared workspace.

Skootr, Gurgaon

In addition to this, shared workspaces fulfil another significant function for those who have just moved to the city for their first job (or in search of a job). Today, having a thriving professional network is an extremely important part of any job — something that a young employee may have trouble building if they don’t already have connections in the city. That’s where the networking events, meet-and-greet sessions and industry galas hosted by coworking spaces prove indispensable. They put these young employees in touch with senior associates in different companies — something that they would otherwise have not been able to achieve without personal contacts.

Coworking spaces are increasingly being associated with universities too. Students look for a cool, well-designed space that will give them a respite from the harsh Delhi heat. They seek a space that has good WiFi connectivity and adequate online resources to help them learn, do their homework and collaborate on projects. In addition to checking all these boxes, a coworking space also gives them the one thing a library or a café cannot — exposure to a thriving work environment, even before they take up their first job. Some coworking spaces also host mentorship programmes for young women, who often lack proper professional guidance and mentorship in the corporate sphere.

Co-living spaces

Many Indian families are still apprehensive about letting their teenaged kids move away from home, to a big city like Delhi, especially if they do not have family there. What will they eat? How much will it cost? Will they be safe? These are some of the top concerns that worry parents and relatives. This meant that in the past, many people would have had to give up on a great educational opportunity or a job prospect.

Today, co-living spaces give students and young professionals the confidence to move to a new city, even if they don’t know anyone there. Renting an apartment in Delhi usually requires one to sign a long-term lease and pay a hefty deposit, which becomes a massive deterrent for those who do not have much savings. Buying furniture, home appliances, electronics and other essentials further increase the financial burden of a big move. Co-living spaces, on the other hand, come with flexible leases and require no deposit to be paid upfront — making them the perfect economic solution. 

Modern co-living spaces are nothing like the typical sparsely furnished, unkempt student dorms. When we designed Stanza Living in Gurgaon, for instance, we conceptualised a cosy, comfortable space that students can call home. Stanza Living offers everything from nutritional meals to laundry facilities, and even provides professional housekeeping services, thereby relieving students from the typical burdens of maintaining a house. We even created a fully functional office space with work desks, meeting rooms and high-speed WiFi, making it easy for residents to work, study and innovate.

Stanza Living, Gurgaon

Co-living spaces also usually have a high-end security system in place, which finds huge favour among students and working women (and their families) who are apprehensive about safety in Delhi and the NCR region. 24-hour gate surveillance, automated key cards, and app-based guest entry systems go a long way in eliminating the stress and tension of living alone. Extra perks like gyms, pools and in-house cafes round up the experience, and enable people to enjoy a high standard of living that would otherwise have been unaffordable.

Looking to enter the thriving shared space real-estate in Delhi-NCR region? We can help you conceptualise an innovative co-living or coworking office design, that will help you offer the best conveniences to your tenants. Let’s talk!