We performed a Coworking Demand Analysis for a Lucknow, Main neighborhood to understand what is and is going to be the most in demand types of coworking for the 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:
Gomti Nagar is a locality in Lucknow that consists of both residential and businVarious malls in the area are the Fun Republic Mall, the City Mall Lucknow, MOD Plaza, Jeevan Plaza, Wave Mall Lucknow, and the Vijay Shree’s Antas Shopping Mall and Multiplex. The WEDOST Supermarket is the most famous in the locality. The restaurants that are near the locality are Kathi Rolls and Momos, Paratha Makers Cafe, Magan’s restaurant, Spice Bowl Restaurant, Sura Vie Lucknow, and many more.ess settlements. The areas that are in the close vicinity of Gomti Nagar, Lucknow are Hazratganj, Indira Nagar, and Aliganj. The HCL IT City, Lucknow, SEZ, Unit-1 is at a distance of 8 KM from Gomti Nagar, Lucknow. It is one of the most prominent IT Parks in the area. The Tata Consultancy Services, Awadh, Campus Office is at a distance of 3.2KM from the locality.
Hazrataganj is a locality that is in the downtown of Lucknow. The areas that are in the vicinity of the locality are Lalbagh that is at a distance of 2.03KM, Lalkuan which is at a distance of 3.45KM from the locality, and Mahanagar that is at a distance of 3.75KM from the locality. This locality is a perfect blend of commercial as well as residential. The NH27 Highway is in the vicinity of Hazratganj, Lucknow. There are various malls in the locality such as the Sahara Ganj Mall, Family Mart Shopping Mall, Phoenix United Mall, Umrao Mall, Emerald Mall, Vishal Mall, Gardens Galleria Mall, and the City Life Mall. There are various supermarkets such as the Diamond Super Market, Ashiana Super Market, and the Happy Super Market. The HCL IT City, Lucknow, SEZ, Unit-1 is one of the prominent IT parks in the locality. The distance of Hazratganj, Lucknow from the locality is 12KM. The Tata Consultancy services Awadh, Campus Office is at a distance of 8KM from the locality. These IT parks add value to the locality.
Aliganj is the 2nd largest residential area in Lucknow after Indira-Nagar. Aliganj is located in north eastern part of Lucknow and situated in the Trans Gomti Area of Lucknow. It has become one of the most sought after area due to presence of University and Medical College etc.Aliganj provides immense employment opportunities in private companies like Prajit Pharmaceuticals Pvt. Ltd., Quest Biotech (India), and government offices including Geological Survey of India, UPSC, IMDUP, CPWD, BSNL, PWD, SBI Training Centre etc. These are located 2 – 4 km from the locality. Apart from these locals travel for work to STPL (Software Technology Parks of India Limited) which about 7 kms from the locality.
Alambagh is a locality in Kanpur Road in the state of Uttar Pradesh. LDA Colony surrounds the locality at a distance of 1.72KM from Alambagh, Lucknow, Ashiyana, which is at a distance of 3.38KM from the locality, and Aishbagh is at a distance of 5.41KM from the locality. It is a densely populated area that is a blend of residential and commercial.Many malls in the locality, such as the Phoenix United Mall, Emerald Mall, Man Mahesh mall House, Shalimar Mall, and the Ganj Mall. The locality also has many supermarkets such as the Goldi Super Market, The Grofers Market, and the Easyday Supermarket.The HCL IT City, Lucknow, SEZ, Unit-1 is at 16.3KM from the locality. It is one of the most central I.T. parks in the locality. Other than that, the Tata Consultancy, Awadh, Campus Office is at a distance of 15.9KM from the locality. The latter one is held in the same regard as the previous one.
Indira Nagar is a residential locality in the Indian town of Lucknow. Khurram Nagar, Chinhat, Kalyanpur (east), Eldeco Greens, Balmikinagar are the surrounding localities of Indira Nagar. Picnic Spot Road, Chandan Road, Tedhi Pulia Ring Road, Takrohi Road, and Faizabad Road are some of the major roads enhancing the connectivity of the locality to other parts of the city.Indiranagar and Bhootnath Market metro station of the red line metro facility is available in the locality.Gayatri Market, Lekhraj Market, Bhoothnath Market, and Meena Market are the major destinations for daily shopping needs. Prominent hospitals like Sushma Hospital, Jan Kalyan Eye Hospital, CNS Hospital, PGI Hospital Lucknow, Waris Hospital, and Shekhar Hospital are providing healthcare facilities in the locality.Central Institute of Medicinal and Aromatic Plants, Vikas Bhawan, Jan Sampark Karyalaya, U.P State Construction, and Infrastructure Development Corporation Limited, and Vigilance HQ Lucknow are some of the government offices in the locality. Kaizen Infotech Pvt. Ltd, HashTag Labs Pvt. Ltd. (Development Office), MPSoft INFOTECH, Prithvitech Consultants Pvt. Ltd., and OHGOI are some of the IT/ITeS in the neighborhood providing employment opportunities. East India Pharmaceuticals Works Ltd (8 km), Jankipuram Biotech Park (6 km), and Tata Consultancy Services (4 km) are other few business centers that can be reached in less than an hour from the locality.
Based on our coworking demographic data for the region, Lucknow location, and the cities upward trend, Propques predicts the city support 48,300 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.