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Learn the top 5 trends of the commercial real estate (CRE) market of India to stay ahead of the competition.

The new centre, which is already operational, can accommodate up to 1,000 desks, each available to clients at a monthly rate of Rs 20,000. 

Smartworks, a leading co-working firm in India, is expanding its footprint with a new centre in Gurugram's Cyber City. With over 8 million sq ft across 14 cities, it plans to raise $70-90m for future growth. The flexible office space industry is estimated to reach 81 million sq ft by 2025.

The relaxation of Special Economic Zone (SEZ) regulations, coupled with growing demand for flexible office solutions, is poised to enhance the availability of grade-A office spaces. This development has the potential to alleviate the prolonged scarcity in a high-demand market segment. Additionally, partial de-notification is anticipated to release space formerly designated for domestic business purposes.

Managed workspace provider Smartworks has expanded its presence in Chennai, leasing 200,000 square feet of prime office space, bringing its total footprint in the city to over 500,000 square feet. The new centre, set to open in January 2024, has already secured 40% occupancy. Smartworks plans to double its presence in Chennai to one million square feet within the next two years.