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Tips To Invest In An Ongoing/Under Construction Commercial Property

Decorated sample commercial space, glossy full-page advertisements, freebies, flexible payment options, and schemes are the most preferred lures that real estate agents and developers use to attract potential buyers. However, if you are planning to buy an ongoing commercial property, make sure you gather as much knowledge as possible about such an investment. Some pros and cons come with it. While there are benefits of buying an under-construction commercial space, there are risks too. Carefully evaluate the drawbacks and advantages before making a decision.

Let’s start with the bright side of investing in an ongoing commercial project.

Possibility of Customization and Better Choices

An ongoing construction property means you have plenty of options to choose from, unlike a resale or secondary market where you have to invest In only what is offered. For example, you can choose between the view you want, the direction – north, south, east, or west – you want your commercial space to face, and if it is a multistorey commercial space, you have the freedom to choose between the floors.

There is more to it. An early-bird commercial space buyer can select their favorite unit based on the Vastu and get the customization done that best matches their aesthetic choices. Also, there is a need for additional fittings in a commercial space. When you invest in an under-construction project, you can get additional fittings done at a nominal price without worrying about any damage to the property.

Easy or Flexible Payment Option

It is yet another factor that affects the pocket of a commercial property buyer. A newly launched project means you can have easy payment options at your disposal, while it might not be possible for a completed project. The payment plan is usually spread over the entire construction period. During the initial phases of development, low payments are needed. For example, real estate companies generally take up to five percent of the property value as the booking amount, followed by ten to twenty-five percent in the next three to five months, and the remaining amount, seventy-five percent, is to be paid at a later stage as the construction progresses. You might have a further payment plan to pay the remaining amount over three to four years. Approximately five to ten percent of the amount has to be paid at the time of possession. On the other hand, a ready-to-move-in commercial property would necessitate the full payment over one to three months.

Competitive Pricing

It is a known fact that new projects are launched at a competitive price. Being launched means the builder or real estate company needs to attract customers. And it brings attractive discounts and offers to the normal prevailing property price. Builders and real estate developers want to attract prospective investors and buyers for price appreciation by keeping the rate competitive. However, how soon you want to move in is important in determining the price. Some commercial properties are easily available at a very competitive price if you are no rush to start your business. So, if you have time to wait to start your business, you can buy a commercial space for a great price.

Just imagine – a project gets delayed, but the end-user might pay both the rent (for the existing space) and EMI during the extended period.

To Sum Up

The market is full of options. You just need to be smart and careful while making any property investment. Time spent researching developers might yield fruitful results.

Buying a commercial space in an under-construction property looks like an attractive and beneficial option given the discounts, schemes, and easy payment plans it offers. As mentioned above, do a background check on the developer before deciding. With a credible, reputable, and strong developer – whether a local player or a national name – it will be much safer to invest hard-earned money at an initial stage to derive advantage of the lower price at that point.

Remember, the key to fetching the right deal lies in your research. Many builders and developers butter up the entire process to bait a customer. Be alert. Don’t make any decision based on what the developer says. When done properly and carefully, an investment in ongoing commercial property is worth it.

Author

KAPOOR LINKERS-REAL ESTATE ADVISORS-REALTORS- CONSULTANTS Kapoor Linkers is Real Estate Advisors Based in Delhi NCR, which is the premiere Seattle real estate consultation firm for multi-family property sales in Delhi NCR, Noida , Greator Noida, Greator Noida West(Noida Extention) Ghaziabad, Gurugram, Faridabad and Kundli. We are locally owned, client-focused, and highly experienced Professionals in Real Estate. When it comes to Commercial Properties, Luxury Apartments, Villas the investment in Real Estate in the Puget Sound region, we are the Real Estate Professionals which will be smart choice to consult and partner with us. Kapoor Linkers Real Estate Advisors, named one of the top and fastest growing businesses owned by experienced Real Estate Professionals , we are Realtors who provide full-service consultation for buying and investment in Commercial Real Estate Properties, Luxury Residential Real Estate Properties focused on adding value for clients in the operation, development or transaction of Commercial and Luxury Residential investment in Properties. With over 15 years of combined experience in every product class locally and across the region, Kapoor Linkers Real Estate Advisors offers a range of Real Estate Services from traditional brokerage, fee based consulting & advising to facility and property management-all focused exclusively on Commercial and Luxury Residential Property Owners, Developers and Investors.

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