By Team Homes | Monday, 12 February 2024

Nagpur Developers Soon to Launch First Co-working Space

A cluster of developers in Nagpur, Maharashtra have planned to construct the first co-working space of the city jointly for leasing to IT companies in a special economic zone close to the airport.

At the beginning, followed by two more facilities in south Nagpur, 50,000 square feet of office space will be built at the Multi Modal International Cargo Hub & Airport (MIHAN) SEZ. The investment of the project will be more than Rs. 20 crore and it will take 15 to 18 months to finish the project completely.

Speaking on to this, Gaurav Agarwala, Director, Sandeep Dwellers Pvt Ltd (SDPL), Nagpur states, "This will essentially be the first co-working space designed to come up for IT companies in Nagpur, and around 10 to 20 developers from Nagpur will come together and construct 50,000 sq. ft co-working space at MIHAN-SEZ”.

The project MIHAN is span across 4,300 hectares & includes the extension of the obtainable Nagpur International Airport. Out of this, more than 1,200 hectares is set aside for the SEZ, followed by non-SEZ reservation for open spaces, residential & retail development.

At present, HCL Technologies, Infocepts, Infosys, Tech Mahindra, & Tata Consultancy Services have their occurrence in Nagpur city. Nevertheless, developers aim to generate an ecosystem for existing & new companies to develop deep into the market of Nagpur as Pune, Bengaluru and Hyderabad have become cutthroat competition.

According to the official sources, Pune ranked top with co-working spaces dwelling in a transaction share of 40 percent in the earlier fiscal year, whereas Bengaluru ranked next with the net absorption of co-working office spaces rising to 30 percent.