No one is prescient enough to comprehend what’s stored in the future of a business. However, with proper contemplation, you could have the foreknowledge of your commercial property investment future.
What is it all about?
Let us explain.
When it comes to purchasing a property there are countless strands you would have to unravel. Not that the procedure is going to differ a lot from buying residential properties, but still, the outcomes, requirements, location analysis, et al will require you to be a little more vigilant.
Here are 5 tips to get your perfect office space in a metropolitan like Mumbai:
For accurate value assessment of the property, it is mandatory to check the Social Infrastructure. Unlike in the case of a residential property, it is inevitable that as a buyer, the main purpose of the purchase will be profits.
As we know commercial properties cater to the buyer with a better liquidity of the investment, and from what I believe, to save peanuts you wouldn’t want to compromise on the value your transaction can bring.
Ask around a little bit about the health of the local job market, proximity to other commercial places, check for electricity supply, backup electricity means, water resources, and other amenities.
Make this your first priority while looking for a commercial space!
Estimate the refinancing ability for the location and how visible your workspace is to the market?
To gain a proper insight of how much cold cash is required for purchasing a commercial property, in places like Mumbai, requires some cardinal forethought.
One should decide which bank should he/she be chosen as the interest rates vary. One should also consider the additional variable charges which would be required.
Hence, it is strongly recommended to check your finances in advance, if you want to pull off a successful investment.
It is strongly recommended to contact us if this is your first time in investing in Commercial Properties. Be rest assured that you will be guided for the best.
Be it for the convenience of employees or employers or even the clients, your workspace location will play a pivotal role.
The location should be easily accessible, and believe me, after all these years, this is the reason of dissatisfaction of many buyers that the location is quite remote. In the first go, this might seem all suited up but later, the loopholes hold the profits back. And, that’s when it hits you bad.
Critically examine the surroundings, and how connected is the location with other ones.
A delayed diligence can lead to prominent losses of both your time and investment.
Now that RERA has come to action, this has reduced, but still, you can’t be sure.
Examine the infrastructure and development pace of the workspace.
Amongst all the chaos there has been with the falling value of Indian Rupee and all the laws, the one constant factor is the demand for commercial properties in Mumbai.
The city and its people have tremendous potential, not only in terms of prices of the properties but the influx as well.
People from across the nation come to the city in search of great career opportunities, thousands every year!
Also Read: An ultimate guide to IOD
Like I said, the one factor holding its ground is the demand for commercial properties in the era where prices keep on rising, and laws keep on modifying.
Like I said, in the era where prices keep on rising and laws keep on modifying, the one factor still holding its ground is the demand for commercial properties.
It is going to be a tough journey if you do the property hunt on your own, and I am sure you don’t want to end up disappointed.
Cut yourself some slack, and contact us.
Plus, we would like to warn you about the many fraudsters out there, who are only looking forward to extracting money.
Connect with one of our experts. We look forward to helping you with your real estate needs.