Monthly Archives: May 2016

Considering buying a commercial property? These tips will come handy

In my last post, we have discussed some tips on buying residential properties. Today, its turn for commercial properties. Actually buying a commercial property is quite different than buying a residential property. The parameters to be considered before making investment in commercial property is totally different than those of the residential ones. Let us do a quick check as to what are the considerations you should make while making an investment in a commercial property.

commercial property

1. Type of the property – Before making any decision, evaluate what kind of a commercial property you are looking for. Is it a store space in a shopping mall, or a office space in a building, or a land.

2. Look for property that matches your budget – Once you have made the decision, start looking for a property that matches your budget. It is important to match up with the budget specially if you are buying it for the purpose of investment and not for the dire need. It is not a good idea to go overboard specially in case of property investment as you may end up messing up your regular expenses and savings for emergency.

3. Evaluate the location – Evaluation of the location can be done before or after finding suitable property(s). Specially if you are too strict on budget, you may not find a property in your preferred location. However, even if you do the latter, evaluation of the location is important. Consider the type of property and if the area is suitable for it. Say you are looking to buy an office space, a location in or atleast near the business hub will be more profitable even if it is a bit low in terms of facilities. Whereas a well-facilitated plush building at the outskirt of the city is likely to fetch you less. Similarly a land suitable for factory site should have good drainage facility and enough open space around. If you are looking for a store space in a mall, check out their daily average footfalls.

4. Rental income – Before putting in your money, you must well consider how much it will fetch you back. Make a good market study and further better consult a good property consultant about the market value of the property.

5. Negotiate a good deal – Negotiation is the mantra for any good deal. Do a proper and logical negotiation till you are steering out the best deal for yourself in terms of money, locality and property features. Specially, keep sharp eyes for any additional and hidden costs as they are likely to overload you later if not considered before hand.

6. Maintenance costs – Maintenance cost is mandatory be whatever property you buy, residential or commercial. And therefore do a proper evaluation of the age, built, and condition of the property before hitting the final deal.

Planning to buy a residential property? Some useful tips

Owning a residential space is a dream that everybody loves to see and a task to be achieved in life. With the rising cost of real estate, buying property is no more that easy. However, what everybody makes sure is that to at least buy a residential space for themselves. So are you in the phase of planning a residential property? These tips will definitely come in handy for you. Check them out.

1. Buying a property, and specially if that’s a residential one, the excitement is the thing that surpass all other emotions and also sometimes gets in way of thought-process and decision-making. So hold on, stay calm and be careful such that your excitement doesn’t overpower your decision. Make wise decision that is profitable for you. Always remember that the deal that’s profitable for others may not hold good for you. So take advices but make your own decision.

2. Before going forward with any property, care to check the papers, permissions and clearances. Remember these are more important than the floor plan of the property. Most of the time, if you are buying a property in its nascent stage, there are chances that the cost gets lowered considerably. But the developer may still not have all the permits and clearances. So take care to verify them and also to be assured that at least they have a sanctioned construction plan, others may come in course of time. In case of a second-hand flat, be careful to check out that all its due taxes are cleared before it get registered to your name.

3. This point mainly comes into play if you are going for a new project. Before going forward, take into consideration all the related costs. Most of the time what is marketed is the base amount. You may jump in thinking that it suits your budget and make the down payment. But soon you will realize that there are more into it. Registration of the property, insurance, taxes, association registration, etc. are huge enough to fail your budget. Always consider that you have to shell out about 10 to 15 % more than the reflected amount. Plan your budget and look for properties accordingly.

4. This point personally holds much importance for me. See if you are also on the same line. If you are buying a residential property, always set your priorities correct and beforehand and stick to it. For example, suppose you are buying a flat to stay near your workplace, and it should be easily commutable and that it should have good facilities and so on and so forth. Therefore your priorities are 1. workplace, 2. easy to commute 3. good facilities. Start looking for a property that is on first hand near to your workplace; after that criteria is fulfilled then look forward to its communication options and then to the facilities. That way you will not deviate from the main reason for your buy and also can stay streamlined in your decision-making process. Suppose you end up buying a flat with wonderful facilities but far away from your workplace, eventually your need will seem not satisfied.

5. The final one is relying on a dependable property broker. Everyone has their own expertise. You may not be an expert in studying projects, its appreciation and depreciation value, loans and taxes. But a good is. Therefore it is always better to rely on a good and reputed for getting the maximum profitable deal and also to ease out the other official processes.

Finally, all the best for your venture!

Lavish 3200 sq feet 3 bhk in Kharghar.

I have a really nice project in Kharghar if your interested.
G plus 31
One flat per floor
3200 area.
3/4 bhk plus servant room plus open terrace ( jucuzzi sauna steam )
Golf course view.
Structure ready. Possession end of this year.
Fittings are all german made.
3 lifts.
2 lifts open inside the flat.

All amenities