Traditional Office Spaces
A few years ago the office spaces were located in particular regions of Mumbai, like Fort, Nariman Point, western suburbs like Andheri etc. The commercial estate here comprised of office spaces in old buildings and was not well equipped with facilities like air-conditioning, elevators, ample parking spaces, cafeterias, and waiting lounges. The design was very limited with office cubicles and a reception desk. These were affordable, accessible, and preferred by small and medium businesses.
Modern Workspaces
In the past decade or so, the progress of technology has changed the workspaces in Mumbai in many ways. The demand for modern workspaces is on the rise replacing traditional workspaces. Modern offices have state-of-the-art facilities and amenities like high-speed internet connections on WIfi technology, video-conferencing facilities, ergonomic seats, and cafeterias that boost productivity in a comfortable and collaborative work environment. These spaces can be scaled up or down as per the business needs and flexible leasing terms.
Co-working Spaces
The concept of outsourcing has now made its way into commercial real estate too. Co-working spaces are shared office spaces where individuals and businesses can work together in a shared environment facilitating collaborations and cost effectiveness. The spaces offer all the required facilities like meeting rooms, event spaces, high-speed internet, modern office spaces, and common cafeterias. These are popular among start-ups, entrepreneurs, and freelancers looking for affordable and flexible workspaces. These workspaces benefit start-ups and new businesses in the growth and expansion phase.
Conclusion
The commercial real estate in Mumbai is evolving at a fast pace. Technology is transforming the way businesses operate which in turn is impacting the offices and work spaces. The construction and design of modern commercial spaces has come a long way and will keep evolving in the coming years. As new commercial hubs emerge and office districts get decentralized the Mumbai commercial market is poised for growth and expansion like never before.
