Oneculture, a Co-working firm has acquired 1.06 lakh sq ft office space in Noida. According to the sources, this deal is finalized with a leading developer named Bhutani Infra for the opening of its fourth centre. This workplace has a capacity of 1,600 seats.
Oneculture has leased workspace in Alphathum a commercial project by the Bhutani group which is under construction at an estimated cost of Rs 1,200 crore. Presently, this co-working firm holds two centres in Gurugram that have1,300 seats in total. The third centre with 700 seats is likely to be operational in the city from November.
A senior official said that the centre has a monthly rental between Rs. 12,000-22,000 per seat.
Ashish Bhutani, CEO, Bhutani Infra said that the demand for office space in Noida and Greater Noida is witnessing increase and this is because of low rentals in comparison to Gurugram. The commercial property in terms of office space is performing better than the residential property market in Noida as a good demand is raised by corporates and co-working operators.
The Bhutani Infra is investing Rs. 1,200 crore to build Alphathum as the project is spread across 45 lakh sq ft of built-up area. The developer opted for sale and lease model for the monetization of this commercial project.