Home » General Health » What are the rules to follow before buying Commercial Properties?

Investing in commercial properties requires a lot of funds and long-term commitments.  The real estate market in India has shown an exponential rise in the last decade. The demand for real estate in India is always on a growth path as the population continues to rise.  Commercial Properties in India can give attractive returns in the long term as both capital appreciation and rental income are assured.

Since this is a long-term investment, one should do proper research before investing in a property.

Few rules to follow when buying Commercial Properties in India are:

  • Research the Real estate market

It is essential to understand the market trends of real estate deals. While there is no shortage of properties in any location in India today,Business Parks In Chennai  one should invest only in those areas where there is the scope of development and capital appreciation. Since the prices of commercial properties in the city’s business hub are incredibly steep, it makes sense to buy in developing areas. It is cheaper and gives a better return on investment in the long run. Purchase properties in areas with gooddemand and reputable offices astenants should be considered when investing.

  • Engage a reliable real estate broker

A real estate broker or agent will guide you to the best deals as per your budget. They know exactly which properties are on sale and can help to negotiate the price with the seller.  They are knowledgeable regarding the prevailing property rates in any location. Even getting a tenant for the commercial property you have purchased will be facilitated by the real estate agent.

  • Consult your financial advisor

Understanding the complexities of buying a commercial property is important, especially the tax implications. Your Chartered accountant should guide you on ensuring compliance with the authorities, including property registration and mode of payment. In many cases, they advise on getting the best property loans from Banks to set off any wealth tax demand. Also, one should analyse their financial position before investing. Tech Parks In Pune  Questions like whether to go for outright purchase or take on equated monthly installments (EMI)?  What would be the implications if the property does not earn any rental income. Will it be possible to pay the EMI comfortably?

  • Buy from the right builder

One should always buy a commercial property in India from reputable builders. It is important to check the real estate builder’scredentials and check out the review from their existing customers. It is crucial to understand whether the builder has expertise in the commercial segment as office layouts will indicate their competence. Checking the property documents with clear-cut ownership proof and construction approval from the authoritiesis a completemust. This area of the transaction is non-negotiable as it can have long-term repercussions on the buyer.

Conclusion: – If you are a first-time buyer, it is important to be patient and take the help of the experts.  Look around for a few properties before deciding on a particular one. Avoid hasty long-term significant investments. And lastly, it makes sense to draw a checklist of all critical points before closing the deal. This way, you can be assured that there are no slip-ups.

Published at: Recent Health Articleshttp://recenthealtharticles.org

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