Are you thinking about purchasing an office space, retail shop, factory or setting up an industry? If your answer is a big YESSS, then this guide will help you analyse the pros and cons of buying. Simply choosing the location and making the purchase isn’t a wise decision. If you are considering investing in a commercial project, it is crucial to weigh the pros and cons.
However, real estate investment is not as simple as you think; there are several factors which every buyer should consider when it comes to commercial properties. Let us help you get rid of all the decisive complexities.
The location of the project plays a vital role in ascertaining its value. It’s crucial that the selected property should be commutable through all modes of transport and should be close to major commercial hubs. Therefore, the location around your property is the first deciding factor when it comes to setting up your own commercial property.
Who doesn’t want to buy a property at low rates? Frankly, we all do! Furthermore, all owners would like to get a higher price for their commercial space when they choose to sell. Remember, the price you pay for a property today, will be beaten by a great price after three, five or ten years. So, resale value that can be earned in the future is second most important factor.
Availability of Support Services
Before finalizing the commercial real estate, it is important to carefully study services such as parking space, security and modern technology such as lift and Wi-Fi. These services will help in running your business successfully and contributing to the resale value. A wide range of amenities are the third most important factors of a commercial project which makes it a hot buy.
Significant opportunities to expand out in the future
Fourth, while you are reaching on a destination decision, don’t forget to check if the property has a broader range of opportunities to fit the requirements in case of expansion. Future is unpredictable and any businesses can face be threatened to slowdowns or closures. Make sure your property will have sufficient takers for leasing in the near future.
Infrastructure and Neighbourhood
Fifth, the value of the property is impacted via the infrastructural development in the surrounding area. Flyovers and metro rail connectivity are some such developments. Electricity, water and drainage availability are other very important factors to peep in before making your purchase.
Low maintenance commercial project
Sixth, most properties have certain hidden costs which are vital to study. These hidden costs are the costs of maintaining and running the commercial property. Today, the economically challenging times demand that one must consider a property with low maintenance rates, so that the expenses can be managed well.
Therefore, in-depth analysis and strategic awareness around property are crucial to the success of your business.
In Delhi, while the prices for real estate in developed areas are quite high, there are various developing areas that are hot options- either for terrific returns or setting up businesses. According to real estate experts, suburban towns such as Noida, Bhiwadi, Faridabad, Yamuna Expressway, Sohna Road, New Gurgaon and Dwarka Expressway are the best options for buying a commercial property.
As Dwarka Expressway’s legal hurdles are clearing way for its completion, the location is expected to reap healthy returns within no time. There are several residential and commercial projects which are about to be completed and the area will soon be well-populated.The bookings for some of the best construction projects have started, so book now for the best prices. Within next 3 years, you can have your retail shop, commercial office space for rent or business ready in NCR Gurgaon.
Property Rates in Gurgaon
Commercial Project Rates & Trends of Commercial Office Space for Jul-Sep 2015
Source: Magic Bricks