Right to Excellence - Real Estate Summit 2024: Experts highlight surge in co-living, co-working popularity across India

NEW DELHI: Several real estate experts on Friday highlighted the rising trend of co-living and co-working spaces in India.

The experts were participating in a panel discussion as a part of the Real Estate Summit of Right To Excellence series organized by the Times of India.

The panel included Nayan Raheja from Raheja Developers Ltd., Ankur Modi from Adani Realty of NCR, and Shabbir Kanchwala.

Nayan Raheja highlighted a significant growth in co-working spaces, citing a 30% increase from 2018 to 2025. He noted that approximately 30% of new office space in the country is now dedicated to co-working.

Ankur Modi echoed this sentiment, emphasizing the surging popularity of co-working, particularly in India, which ranks as the third-largest startup hub globally. He emphasized the positive impact of co-working spaces on productivity.

Shabbir Kanchwala, Principal at Global Network for Zero, discussed the shift towards smaller offices post-Covid-19 to optimize resources and align with sustainability objectives.

Speaking about co-living spaces, Ankur Modi emphasized the dual aspects of social and economic considerations, mentioning challenges related to regulations and safety codes. Shabbir Kanchwala acknowledged the increasing interest in co-living but pointed out the prevailing cultural preference for home ownership in India.

The discussion underscored the growing significance of co-working and co-living spaces in the Indian real estate landscape, emphasizing the importance of fostering acceptance and enhancing regulatory frameworks for their seamless operation.