new delhi aug 29 coworking firm oneculture has taken 106 lakh sq ft office space in noida on lease from realty firm bhutani infra to open its fourth centre comprising 1600 seats oneculture has leased 106640 sq ft office space in bhutani group commercial project alphathum in noida uttar pradesh being constructed at an investment of about rs 1200 crore the coworking firm currently has two centres in gurugram haryana with a total capacity of 1300 seats and will open the third centre in the city in november having 700 seats it offers space in the range of rs 1200022000 per seat per month a senior company official said bhutani infra ceo ashish bhutani said the demand for office space in noida and greater noida market is improving because of lower rentals compared to gurugram in contrast to sluggish housing sector indias office market has been performing well driven by demand from corporates and coworking operators introduction of real estate investment trust reits has also come as a major boost for this segment wework regus cowrks awfis smartworks oyo workspace goodworks gowork skootr indiqube avanta 91 springboard creators gurukul gohive plus offices and spring house coworking are major players in this segment recently thailandbased real estate firm mqdc also entered this space by taking on lease 22000 sq ft from realty major dlf to start its first coworking centre in the national capital bhutani infra is investing rs 1200 crore to develop this commercial project comprising 45 lakh sq ft of builtup area to tap into the rising demand for office space of the total area around 35 lakh sq ft is for office space and seven lakh sq ft for a shopping mall rest will have 500 studio apartments office towers are expected to be completed by yearend while shopping mall and studio apartments are likely to be executed over the next two years the company has adopted both sale and lease model to monetise this project the average selling price is rs 8000 per sq ft bhutani infra has so far completed about a dozen commercial projects in east delhi as well as ghaziabad and noida mjh rvk