Co-working space in Chennai?

A co-working or co-office space in Chennai would be very cool.

Basically, the idea is that more than one company works in the same office. In co-working, which is geared towards individuals, each individual gets a table and a place to sit. In co-office, each company gets a workroom that can hold about 5 people, desks, computers. Office infrastructure such as a reception, coffee machine, printers, xerox, conference rooms are shared between all the companies. Maintenance is also taken care of by the space provider.

The rent and expenses are shared between all the companies. So an office space that can accommodate 4 companies will typically have a rent that is around 1/4 to 1/3 what it would cost to rent your own office.

These kind of spaces have big advantages for startup companies in particular.

One, the cost of office space is vastly reduced, so they can have an office at a much cheaper rent. The second big advantage is that they are in an environment with other startups, so during coffee breaks people are likely to run into other startup folks. The third big advantage is that these spaces are rented out on a monthly basis, so there is no need to take out a long term contract with up front advance and deposits.

If anyone knows of such a space in Chennai, drop in a comment to this post.