Chennai development body to construct co-working centres
The Chennai Metropolitan Development Authority (CMDA) plans to offer affordable co-working spaces with amenities such as high-speed internet, dedicated workstations, meeting rooms, and fully equipped libraries. These centres will be located in CIT Nagar, Anna Nagar, and Kolathur, integrating libraries within these areas. Co-working spaces, where employees from various companies share facilities to reduce costs, emerged in Chennai in the early 2000s and gained traction in 2015. They typically offer a range of seating options, including three-seater cabins, fixed desks, flex desks, and meeting rooms, with rents ranging from Rs 9,000 to Rs 33,000 based on location and seating type. CMDA Minister P K Sekar Babu announced that the government will invest Rs 300 million to develop these high-standard co-working spaces, targeting middle-segment employees who may find private sector facilities unaffordable. These spaces will also cater to young professionals preparing for competitive exams, providing them with a library for study during breaks or after work. The centres aim to serve a diverse user base, including entrepreneurs, startups, freelancers, independent professionals like writers, designers, consultants, and remote workers. CMDA Member Secretary Anshul Mishra highlighted that nearly 30% of startup investments are spent on rentals, and these co-working centres will help early-stage ventures and individuals with business ideas by reducing overhead costs associated with traditional offices. This initiative will also revitalise underutilised spaces in the city, contributing to economic development and creating a vibrant urban landscape. The facilities will be well-connected to ensure accessibility for a broad range of users. The CMDA plans to explore public-private partnership models to ensure the efficient and sustainable operation of these centres. Additionally, networking events, workshops, and social gatherings will be organised to promote collaboration and knowledge sharing. S Satheash, AVP of Real Estate at Workez, a co-working firm, noted that seat absorption by co-working centres was 19,000 last year. He welcomed the government's entry into the industry but emphasised the need to ensure quality and meet current industry standards. He suggested that the government should also consider starting co-working spaces in areas like Guindy, OMR, and the central business district.
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