chennai coworking space occupancy has doubled across india in over a year as the demand for flexible space is on the rise postcovid firms offering coworking spaces are witnessing a demand from startups while inquiries from tier ii cities have also shot up consulting itbpm fintech edtech ev mobility analytics and ecommerce companies constitute the largest traction in the coworking space vertical with corporates gradually adopting a coreflex strategy thanks to the work from anywhere concepta report by real estate services firm cushman wakefield has found that the number of seats in the managed space leasing activity jumped to 78869 in 2021 from 37759 in 2020 in eight top cities of this over 28000 seats were filled in the last quarter of 2021 alone a new high for the sector this trend bolstered the confidence of managed space providers and collectively they accounted for around 93 of total office space leased in 2021nearly 37 million sq ft of gradea office was occupied by coworking operators across the top eight cities by the end2021 of the 57 lakh seats in the managed office market located in eight top cities bengaluru accounted for 34 followed by hyderabad and delhi ncr with 15 and 14 respectively according to the reportexperts in the coworking space market say the sector is expected to double over the next five years and flexible workspace stock is also expected to cross 60 million sq ft in metros and nonmetro cities by 2023 due to the expected sustained demand for instance some it firms which allow most of their employees to work from home prefer smaller coworking spaces for meetingsmeghna agarwal cofounder indiqube a coworking space provider said compared to pre pandemic times we have seen that companies now are looking at having a greater number of meeting rooms and adoption of smart technology for seamless coordination between remote in office teamsmanas mehrotra founder 315work avenue a coworking firm said with india becoming the third largest startup hub in the world there is a huge potential demand for coworking space in the country over the past couple of years coworking spaces in tier ii and iii cities have also seen a rise due to the rise in remote working