8 tips to buying commercial properties
Purchasing a commercial property is a complex decision. Even experts find it challenging to time the purchase to ensure maximum return on their investment. Property purchase is a risky affair, as buyers and sellers bear consequences of a dip or spike in demand. However, an upswing can result in substantial gains. Buying a commercial place is a huge investment for any businessman or entrepreneur and most buyers make lots of mistakes while making this decision. It is therefore recommended that you should look into certain basic tenets prior to taking an investment decision.
- Clearances: Check all clearance certificates issued by regulatory bodies before investing in any pre-launched property. Ensure you do not compromise on clearances in the lure of discounts offered by a builder.
- Title of the property: Check if the property is being built on reserved land. Please ensure that the land has a clear title deed. If the property is being developed then a proper development agreement between the land owner and the builder exists. You also need to ensure that there are no encumbrances or legal issues associated with the land. If possible verify the mother deed of the title document.
- History: Always check the reputation of the developer; you can do this by checking on his previous projects.
- Area: Evaluate your needs prior to deciding on your investment in terms of business and commercial viability.
- Location: The understanding of a location has larger meaning than convenience or its aesthetics. It is the location that would help you relate to the ability of the property to appreciate with time.
- Parking Availability: Plan for parking right at the beginning. You must plan for parking for your employees and clients.
- Quality: Research the earlier projects of the Builder. Speak to owners and review the condition of older projects.
- Growth Always keep in mind future growth of your company and space you require for the same. As buying a property is one time decision.
These are some of the things you would want to check before entering a purchase decision which you can find only in MALOO-01 commercial property. If you require additional inputs kindly visit at http://www.maloo01.com
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