We performed a Coworking Demand Analysis for a Chandigarh, Main neighborhood to understand what is and is going to be the most in demand types of coworking for the next quater Dec-Feb 22. We have some exciting findings for you.
Our Data-Driven Process
Propques unique formulas and tool sets use the dynamic datasets that McDonald’s, Target, and Starbucks use to plot out their next locations. We’ve used our experience of operating coworking spaces for 7 years and as market researchers to develop a process and algorithm specifically for the coworking and commercial real estate industry. The datasets uses over 67 detailed buyer and lifestyle profiles and we’ve correlated each profile with successful coworking markets and forward looking trends. Each profile is graded on their likelihood of joining a coworking space and the type of coworking space they would be most interested in.
All of that data is combined with other local factors (density, mode of transportation, education, etc.) that determine the likely success and size of coworking spaces that can be sustained in the area. The result projects how much coworking space can be sustained in the area the type of coworking (High-end Flex, Mid-range Flex, Executive Suite, etc) that will be most in demand.
Demographics Each pin code’s population is broken down into demographic tapestries that represent the residents’ income and lifestyle.
These are the top 5 for your pin code:
Industrial Phase I & II
Industrial area phase-1 and 2 are the new upcoming areas in Chandigarh for the best office and industrial use. Industrial area not only works but parties too, so to meet that requirement of people we have may party places too.The biggest mall for retail is in industrial area named as elante.Industrial Area Phase 1 is an locality in Chandigarh, Chandigarh Capital Region, India. Sector 27 (2.62 Km), Sector 20 (4.6 Km), Sector 33 (4.62 Km), Sector 8 (5.39 Km) are the nearby areas to Industrial Area Phase 1.. 36% of the properties in Phase I Industrial Area are Commercial Office Space.
35.87% of your area’s population falls in this category. This segment is graded A for coworking compatibility.
Sector-34 is a residential cum commercial area in Chandigarh which grabs high demand due to its proximity to Rajiv Gandhi Chandigarh Technology ParK. Localities enveloped by Sector-34 are Daria, Manimajra, Sahibzada Ajit Singh Nagar, Khudda Lahora, and Sukteri.It is centrally located in Sector 34. Suitable for all kinds of office works, insurance companies, share markets, call centers, immigration offices, spas, salons, coaching centers, laboratories, etc.Sector 36 (1.95 Km), Sector 44 (2.2 Km), Sector 21 (2.24 Km), Sector 43 (2.24 Km), Sector 22 (2.38 Km) are the nearby areas to Sector 34.Tarf Kumbra, Chandigarh, Mohali, Sahibzada Ajit Singh Nagar are the nearby cities to Sector 34.
25.6% of your area’s population falls in this category. This segment is graded B for coworking compatibility.
Zirakpur is a residential area located in the eastern parts of Chandigarh. It is situated at a distance of 12 km from the locality and known as the satellite town of Chandigarh. Presence of the affordable housing project and superlative physical infrastructure drive the real estate demand of the Chandigarh. Rajiv Gandhi Chandigarh Technology Park and MK Technology Park are located at a distance of 16Km from Zirakpur. Industrial Area, Phase I which is known for manufacturing sanitary fittings, paper industry, printing, industrial fasteners, steel fabrication, etc., is just 7Km away via Chandigarh Road. Shahibzada Ajit Singh Nagar which is home to top companies like Punjab Tractor Limited (PTL), Quark and Phillips is approximately 18Km through NH5.
22.67 % of your area’s population falls in this category. This segment is graded C for coworking compatibility.
BDera Bassi is one of the prominent residential cum commercial location situated in the northern part of Chandigarh. Dera Bassi is a satellite city of Chandigarh, strategically located on the Chandigarh’s Delhi National Highway. Presence of renowned industries like Molson Coors India, Hella India Lightings.Ltd and excellent connectivity to employment hubs like Mohali are the major factors boosting the residential sector of Dera Bassi. Dera Bassi is home to a number of companies such as Nectar LifeSciences.Ltd, Federal Agro Industries, Ind Swift.Ltd, Winsome Yarns, TSPL, KDDL.Ltd, HPL Additives.Ltd and many more. Furthermore, the popular Rajiv Gandhi Chandigarh Technology Park is located at a distance of 20Km, and can be reached through Ambala-Chandigarh Expressway. It includes renowned companies such as Infosys, Tech Mahindra, Wipro, NetSmartz, IDS Infotech and Net Solutions.
20.76 % of your area’s population falls in this category. This segment is graded D for coworking compatibility.
sector 82 is a residential project in mohali, making the properties worthy of investment, as it lies in the biggest commercial hub of the city. The locality is surrounded by many facilities such as shopping centers, shopping malls, markets, hospitals, clinics, schools, banks, and atms. the locality has done well with providing various transport options such as autos, taxis, bus stops, and auto stands. this makes the connectivity strong to the other parts of the city. this layout is designed, including shopping malls, hospitals, and several public transportation options, which in return makes connectivity smooth to other parts of the city. sector 82 is surrounded by many other similar localities, which are also known to be well connected to the amenities held around the locality.
15 % of your area’s population falls in this category. This segment is graded E for coworking compatibility.
How Much Flex Office Can Be Sustained in Chandigarh?
Based on our coworking demographic data for the region, Chandigarh location, and the cities upward trend, Propques predicts the city support 52500 square feet for next quarter Dec-Feb23.
Recommended Coworking Business Model: Mid-Flex & Modern Executive Suite
A Mid-Flex or Modern Executive Suite will be the most successful types of flexible office space in Ahmedabad. We have a list of types of properties that these models work well in inside the report.
What can you do with this data?
The Coworking Demand Analysis report is a great first step to evaluate coworking’s potential for a building you may own or area you are interested in expanded to. It’s an unbiased market research approach to evaluating the potential for a space in a quick and affordable way.
If you are interested to move forward in learning more about coworking’s potential at a location then you’ll likely want to work with a professional and ask about a Focus and Feasibility Study. The Propques consultant will create a targeted area, evaluate the competition, and build out a business model and P & L based on realistic expectations, data, and experience.