Planning your budget for your office in advance makes your hunt for an office a breeze. Bangalore office market offers spaces to everyone regardless of what their budget is, hence knowing where you fit in is the most important factor while hunting for offices.
Some of the factors which affect the price are,
Location – Every area in bangalore have their own positives and negatives and command their price depending on the real estate value, location, public transport etc. For example, areas like Indiranagar, koramangala and hsr are the most attractive location for start up and tech companies hence command a higher premium.
Type of building – The underrated factor which generally decides the pricing of any space is, what kind of building you prefer to occupy. If you choose to have an office in a premium building, which is built as per law and all legal and governmental compliance , with plenty of breathing space and parking generally commands a thirty percent premium while compared to a building without them.
Whether the office is furnished or unfurnished – Commercial spaces usually come furnished or unfurnished,An unfurnished space requires capitol investment hence its generally cheaper by 25% compared to a furnished space however if a space is furnished, it saves you a lot of time, energy and money in doing up the space and occupying it.
Availability of parking – Having sufficient car parks is a very important factor while choosing an office space because close to twenty five percent of employees in an average office have their own two wheeler and four wheeler and lack of sufficent parking causes them the hassle of finding parking in public spaces on an every day basis hence a building with abundant parking is higher in value compared to one which don’t.
Legal compliance – One must ensure that the space he is searching for has all the required approvals in place and there shall be no hindrance in the company have a peaceful and continued working environment. Spaces offering all legal compliances command a higher rent compared to the ones which don’t.
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