With Koramangala, HSR and Indiranagar being the preferred locations for startups Bengaluru remains the top startup hub with a 34 per cent leasing share during 2019-21.

‘Startups Scale Up’ is a joined report of Colliers with CRE Matrix, stating that startups are expected to lease about 29 million sq feet between 2022 to 2024, a 1.3 times increase from the 2019-2021 period.

“Startups are the fastest growing occupier group among other occupier groups, and currently occupy 10 per cent of the office space. This has created numerous opportunities for office space providers to rethink and reposition their workplace offerings to attract a diverse set of occupiers. As startups pick up pace, landlords need to consider the business life cycle and work preferences of the startups to capture the real estate demand from startups to drive more value.” Said, Ramesh Nair, CEO, India & Managing Director, Market Development, Asia, Colliers.

Due to increased digital adoption and e-commerce boom, and hold a healthy pipeline in potential unicorns list the demand will be led by fintech and logistics startups as they have gained momentum post-pandemic.

Non metro cities are seeing flex space take up and growth in startup leasing due to low cost of living, reduced CAPEX and work from anywhere trend.
Accounting for 13 per cent share from a mere 2 per cent share in 2010 startups are likely to occupy 78 million sq feet of office space by 2024.