We performed a Coworking Demand Analysis for a Jaipur, 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 4 for your pin code:
Tonk Road has bagged the name as the posh residential colony, situated on the Jaipur-Kota National Highway; Tonk Road runs parallel to the neighbourhood of Jagatpura in the south-eastern parts of Jaipur.
Outstanding connectivity to Sitapura Industrial Area and Jaipur International Airport coupled with budget-friendly housing options are the key demand driver of Tonk Road Tonk Road offers excellent connectivity to major employment hubs like RIICO Industrial Area (7Km), Sanganer Industrial Area (6Km), Vishwakarma Industries Association (22Km), Malviya Nagar Industrial Area (10Km), and Sitapura Industrial Area (4Km). The famous Mahindra World City, which comprises of the SEZs, industrial parks are located at a distance of 23 km from the Tonk Road.
Vaishali Nagar is known as the most expensive and well-established residential neighbourhood situated adjacent to the NH-48 in the south-western parts of Jaipur. Superlative physical infrastructure and the presence of civic amenities within the area have made Vaishali Nagar one of the top real estate destinations.
Mahindra World City which is home to the IT/ITes firm like Wipro, Infosys is located at a distance of 20 km from the Vaishali Nagar via NH-48. Moreover, Malviya Nagar Industrial area which hosts Packaging, chemicals, machinery and equipment is located at a distance of 13 km from Vaishali Nagar. Further, Business Park Tower (7Km), Vishwakarma Industries Association (11Km), Malviya Industrial Area (13Km), Sitapura Industrial Area (20Km), Sanganer Industrial Area (13Km) are the major employment hubs that can be easily reached from Vaishali Nagar.
C-Scheme is one of the prominent and well-known sub-locality of Ashok Nagar located in the north-eastern part of Jaipur. C-Scheme is popular for the white marble Birla Temple, historical monuments, elegant forts, luxury hotels and it mainly comprises high end apartments.
C-Scheme is well-connected to the popular employment hub like Ajmer Road (6Km) via Jaipur Road and Ajmer Road. It has a number of multinational companies like Genpact, Infosys, ICICI Bank, JCB India Ltd, and Wipro. The famous Mahindra World City is 24Km away via National Highway-48. It is home to several prestigious companies such as Genpact, Appirio, Infosys, Wipro, Connexions, Deutsche Bank, GirnarSoft, Nagarro, QH Talbros etc
Mansarovar is a residential area located in south western parts of Jaipur, which was declared as Asia’s largest residential colony in 2010. Mansarovar is divided into nine sectors.
Key employment hubs from the locality are RIICO Industrial Area (3Km), Malviya Nagar Industrial Area (9Km), Sitapura Industrial Area (12Km), Business Park Tower (12Km), Mahindra World City (21Km), and Sanganer Industrial Area (5Km).
How Much Flex Office Can Be Sustained in Jaipur?
Based on our coworking demographic data for the region, Jaipur location, and the cities upward trend, Propques predicts the city support 25,200 square feet for next quater Dec-Feb22.
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 Jaipur. 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.