Investing in commercial property gives you more in return than a 3 BHK flat in Kharar. But the chances of getting duped and entering into a loss-making investment are equally high. Therefore, it will be prudent to consider the following points before finalizing the acquisition of a commercial property. This is different from the tips for buying a commercial property.
The three points mentioned here ensure that you make a sensible call.
- Know More About the Real Estate Agency
When buying any property in the Tricity, not just commercial ones, it is necessary to learn more about a real estate agency in Mohali. The recent rising cases of fraud in the Tricity region have made it inevitable to ensure you opt for an agency with the following attributes –
- Credibility – If a real estate agency is credible, it will have good word of mouth. Commonly, people are aware of them and know them as credible agencies.
- Established work – Such real estate developers have established works to demonstrate what they stand for. For example, Nirwana Square One is one of the most reputed commercial properties in the Tricity that has been attracting many people not only from Kharar and Mohali but even those residing in other parts of Punjab like Jalandhar and Amritsar.
- Complies with rules and regulations – If a building is not built complying with all rules and regulations, it can lead to disputes, and you might face the same problems that Noida Twin tower investors faced.
- Understand Market Situation
An investment in commercial real estate properties in Kharar is different than buying an independent house for sale in Mohali. It is a massive investment and demands more alertness from your end. You must understand the market situation prevailing in real estate so that you do not make a wrong move. It is just like playing chess. One wrong move and you lose everything. Here are a few things that you need to do –
- Learn about the best time to invest – Investing at any time is not as beneficial as investing at the most opportune time. That is why it is important to know whether you are making the investment when the demand for commercial property is rising or not.
- How much you can negotiate – Is there a possibility of a bargain? This is a question that you need to seek answers to before you make a final call. Buying a property at a time when the price is skyrocketing is not the right time. It offers you no scope of the bargain. A time when the prospects are bright but the property rate is still low is the best period to opt for investment in any property. For instance, today property for sale in Kharar is a good choice for you. It has the best future and is not very pricey in comparison to other commercial properties on the airport road in Mohali.
- Is the location appropriate for office space – When you are deciding, do inquire whether the commercial property has any upcoming mall in Kharar, Punjab. It will ensure your property is in the prime location in Kharar, and many offices will also look for rent here. Such type of property is very promising, and an investment sounds good at such locations.
- Seeking Professional Consultant Help – Lastly, you must not ignore professional consulting help, when deciding which commercial property to invest in. There are mainly three people to look for, and they are –
- Accountants – Not many people understand that before buying commercial property you can seek help from an accountant. They can help you understand more about the property as they keep themselves updated with changing tax laws related to commercial buildings as well.
- Lawyers – A lawyer can help you in two ways – directly and indirectly. The former help will ensure that the property you are buying is legal and the latter help will ensure you remain vigilant about disputes or any fraud cases in the court related to the real estate developer in Kharar.
- Property Consultants – You can also seek help from property consultants that can ensure you make the right decision.
Buying 2 BHK apartments in Kharar is difficult but making a final decision on commercial property investment is more. But if you consider all the above-mentioned points, then definitely you will make a prudent call.