Alphathum Bhutani Co-working firm has taken 1.06 lakh sq ft office space

 The demand of the commercial office space is surge heigh in Noida in past 2-3 years as many of the It companies came to Noida or expand their business as BIRLA SOFT has taken 3 lac sqft area in Assotech Business Cresterra in sector 135 Noida.

Now this is another good news for the IT sector as well for commercial properties in Noida & Gretar Noida that Co-working firm Oneculture has taken 1.06 lakh sq ft office space in Noida on lease from realty firm Bhutani Infra commercial project in Alphathum Noida to open its fourth centre comprising 1,600 seats. Alphathum Noida is a 25 acres wonderfully designed developement by bhutani infra at sector 90 Noida. Alphathum Noida Resale office space & retail shops are available at very attractive price. Bhutani Alphathum noida has 3 stunning towers in phase 1, which will be delivered in next 2 months and you can find the a grade office space in central Noida near Metro station which is just 500 meter faraway from the project.

The co-working firm Oneculture currently has two centres in Gurugram, Haryana with a total capacity of 1,300 seats and will open the third centre in the city in November having 700 seats. It offers space in the range of Rs 12,000-22,000 per seat per month, a senior company official said.

Bhutani Infra CEO Ashish Bhutani said the demand for Office Space in Noida and Greater Noida market is improving because of lower rentals compared to Gurugram. In contrast to sluggish housing sector, India’s office market has been performing well, driven by demand from corporates and co-working operators. Introduction of Real Estate Investment Trust (REITs) has also come as a major boost for this segment.

WeWork, Regus, CoWrks, Awfis, Smartworks, OYO Workspace, GoodWorks, GoWork, Skootr, IndiQube, Avanta, 91 Springboard, Creator’s Gurukul, GoHive, Plus Offices and Spring House Coworking are major players in this segment. Recently, Thailand-based real estate firm MQDC also entered this space by taking on lease 22,000 sq ft from realty major DLF to start its first co-working centre in the national capital.

Bhutani Infra is investing Rs 1,200 crore to develop this commercial project, comprising 45 lakh sq ft of built-up area, to tap into the rising demand for office space. Of the total area, around 35 lakh sq ft is for office space and seven lakh sq ft for a shopping mall. Rest will have 500 studio apartments. Office towers are expected to be completed by year-end, while shopping mall and studio apartments are likely to be executed over the next two years.

The company has adopted both sale and lease model to monetise this project. The average selling price is Rs 8,000 per sq ft. Bhutani Infra has so far completed about a dozen commercial projects in East Delhi as well as Ghaziabad and Noida.