4 golden rules to follow before buying commercial property in delhi ncr
TRANSCRIPT
When it comes to making investments in commercial real estate, one needs to consider several aspects such deal terms, resale value, return on investment and so on. And when you choose city like Delhi NCR, the process might become a complex phenomenon for you. Delhi NCR is one such region where demand and supply of real estate is increasing exponentially. Hence, choosingthe right property to maximize the investment value involves cautious efforts on the part of buyers while buying commercial plots in NCR region. Let’s take a look at some useful tips to make your buying process effective.
Rule #1: Early Organization of Finances The first rule is to plan your finances in advance to buy your commercial property.
Check your current savings and apply for commercial loans for the remaining amount. While deciding the amount, make sure you consider other costs associated with loans, registration, taxes etc.
Rule #2: Background Checks on Commercial Property Make sure you cross check every legal aspect of the property. Take the copies of
registration from plot owner and confirm about it from concerned Majri. You can also hire a lawyer to make sure you are cracking a great deal!
Rule #3: Check the Location Sometime people compromise on location part due to budget constraints.
However, we suggest you to give utmost importance to the location of the commercial plot. This is the most important factor which decides the future of your property. If you are buying a commercial plot in slum areas, then you might not expect a good rate of return in near future. It might also affect the resale value of the plot. In addition to this, if you are buying property for some specific business, make sure you check other competing businesses located nearby.
Rule #4: Estimate Future Value Addition Potential The other important aspect to consider is the future value addition which you can
get from your property. Check if you can grow your property’s returns by opting leasing out the extra space. This way, you can see more revenue coming your way!