Building a Commercial Property: We’re a Commercial Property Builders You can Trust
India offers a higher margin on the return of investment when it comes to commercial properties. This makes building a commercial property more profitable over a residential place, especially if you are looking to rent out the place. Building a commercial property can help you get long-term profitable deals from banks, offices, stores, and even co-sharing office spaces that are sprouting by the numbers in the country. Another great way to kick start your own business in India is by building your commercial property that suits the requirement of your trade.
The idea of building a commercial property can be easy as compared to undertaking the task. This is where the best commercial property builders and architects such as Radvi come in. We have sound knowledge and the right experience that can help you build the best possible commercial property. Right from land acquisition to final paperwork, we can cover it all.
Why Choose Us?
Simply because we are the best commercial property builders and architects in India. We at Radvi believe that your investment in commercial property should offer you the right returns that you deserve.
Our team’s 30-plus years of experience says a lot for itself and makes us a cut above the norm. This helps us get the best commercial building plan that is a current trend to match the type of business you are planning to start or rent out. Over the years we have built many commercial properties that have provided promising returns and have worked great for various businesses.
Commercial properties require a little more understanding of the local laws and permissions required. Especially if the property is going to be a restaurant, it will require permits for the cooking area, liquor licenses, storage paperwork, and much more. Apart from building the commercial property adhered with the law, we also offer the right association with authorities to help you get all the legal paperwork
Budget plays an important role in any investment and we value every single penny of your venture. Our team will understand your requirement first and offer you plans that fit in your budget with alternatives that do not compromise with the building but at the same time stays within the prescribed limit. Our team keeps clarity regarding all costs and provide you with a break up for all the investment required so there are no hidden charges. Such model transparency paperwork and a sound building plan is a win-win partnership for us.
Over the years, we have catered to various clients that had small to big commercial buildings built by us. These investors got our complete assistance right from purchasing the land, getting the paperwork done, to getting a business started in the place. These businesses have benefited a lot and our clients have achieved over hundred times return on their investment.
Commercial Properties – A Reliable Investment
One of the greatest perks in real estate investment is that an immovable property in India doesn’t lose its value even when the market isn’t doing well. In recent times, India has seen a sharp rise in the real estate market due to the emergence of big players that offer state-of-the-art properties for purchase. NRIs that are looking at investing in India can either purchase a residential property or commercial property.
If you are looking solely into remitting your funds to India as an investment then purchasing a commercial property is the way to go. There a pragmatic angle into buying a commercial property since it yields a larger return of investment over residential properties in rental or resale. With the faster-growing economy in India and foreign players emerging in the Asian continent, the demand for commercial space is only going to go up.
With new businesses sprouting up almost every day, you can rent out your property to clothing stores, fitness studios, general shopping centres, storage spaces, and even retail outlets of multinational players that have entered the Indian market. You can also strike a long term deal with Banks, ATMs, and restaurants that prefer paying a good amount for a profitable location.
The Major Benefits of Purchasing a Commercial Property
Commercial properties are best for NRIs who have less time to tend to the property on a timely basis yet want to take benefit of the property market in India. It is no surprise that commercial property offers around 6 to 8 % rental yield as opposed to the 1.5 to 2 % yield from residential properties.
Commercial property also benefits from capital appreciation in the real estate market over residential properties. Over the last few years, the need for commercial properties has given rise to the price in the sector.
Residential properties have highs and lows depending on the market conditions and the country’s economy. On the other hand, commercial properties never run out of demand due to the constant requirement of spaces to do business. With the rise in start-ups, international eatery chains, and increasing entrepreneurship, the demand for commercial properties is at an all-time high
Many NRIs tend to invest back into various businesses in India to gain an advantage of the Rupee value and growth happening in various sectors. If you are decided upon a business, great value addition to it can be purchasing a commercial property. You can avail bank loans for the same in India and the property can also benefit from rentals or resale if some reason your business doesn’t take off as desired.
Things to Keep in Mind While Purchasing Commercial Properties
If you have decided to purchase a commercial property, the next step is to ensure that you invest in the right place. We have created a checklist of sorts that can help you make a better decision.
Purchasing a commercial property is beneficial only if its location is in a prime market area. If you are looking at renting out the property to a particular industry, you might have to do a study of the areas that are populated with such businesses. Also, evaluate the current price of the property and research regarding the future predicted value of the same.
Commercial properties require thorough paperwork; it includes name transfer of the property, an agreement between the seller and the buyer, approval of local authorities, and even licenses to run a commercial space. Also get necessary permissions such as fire complaint, emergency exit plans, and permits. Check whether space allows running the type of business that you are planning to begin yourself or renting out. For example, a few commercial spaces might not be cleared by the local civic body to run a kitchen. Purchasing such property to start an eatery business is not a thoughtful plan.
You must consider the cost of maintaining a property along with purchasing it. This recurring cost can make or break decisions depending on the infrastructure capability of the property. Research whether the interesting property is weather-proof and is the area largely unaffected by natural components such as rain. Properties that undergo a lot of physical damage annually due to the weather and natural phenomenon may require a higher maintenance cost, increasing the load on your pocket. Of course, if you rent the property, the maintenance is largely taken care of by the tenants.
Another aspect to consider if you are starting your own business is the interior design of the office. Many commercial properties are available with ready-to-use interiors that may or may not suit your requirement. Compare its pricing over spaces that will require designing from scratch. Also, if you plan to rent out the office space, research whether providing a fully-furnished office will fetch you a better rental yield or not.
The Best Places to Buy a Commercial Property in India
Commercial properties are one of the safest real estate investments and if done in the right place can yield a profitable ROI. Radvi can help you receive thorough information on any locale but the following are a few of the places that have a high demand for commercial space –
The bustling financial capital of India, Mumbai has a thriving business market. Do remember that the city is highly saturated with real estate developers and has numerous suburbs that are developing at a rapid rate. The high asking price for a commercial property can also provide equal dividends if bought its located in the right place.
Another metro city that has many industries in its vicinity is Chennai. With posh areas that have a higher rate per square feet, the city’s locality and population offer enough potential for many small to large scale businesses. Being one of the prime cities in India, Chennai enjoys a thriving economy with many resourceful measures that support local business and in turn will support your commercial property
It is touted as one of the fast-growing smart cities in India today. The city’s old school textile business coupled with the newer IT companies makes it a big player in the economic market. It is seeing vast growth in terms of real estate development. With increasing suburbs that surround the main city, the space for businesses is also increasing. Having a space to rent out or start your own business here can be indeed a smart move
Bangalore witnessed a major makeover when the IT boom revolutionized India. Due to the numerous companies using it as a base, rapid real estate development took place in the city and around it. There has been a rise in the sheer number of people who are now living for work or are shifting permanently to the city due to its beautiful climate and buzzing nightlife. Such a place is definite money-minting space if you are inclined towards purchasing a commercial property.
After Bangalore, Hyderabad shot up to its economy with the help of IT and Entertainment companies. The footprints of many multinational giants led to a transformation of its infrastructure and the city expanded its radius towards various suburbs surrounding it. Purchasing a commercial property can be cheaper as compared to Bangalore or Mumbai but in the long run, can yield a profitable result.
The capital city of India is highly saturated in terms of space and thus made way for the newly developed, one of the top real estate markets in India, the NCR (National Capital Region) area. Many content and media-related companies have found their base in this area. Purchasing commercial properties is profitable since the area is seeing a fast-paced growth in both residential and commercial spaces. The connectivity to the main city is another reason why this area should be considered for investment.
Tagged as one of the most developing cities in the Madhya Pradesh state of India, Indore is a great place to purchase a commercial property that can be used for various purposes. The city has seen a rise in many commercial spaces such as malls, food joints, automobile stores, media enterprises, and more. The city’s suitable weather and its popularity amongst the state’s public make it a favourable place to purchase a commercial property that is cheaper than other major cities.
The second-largest city after Mumbai in the Maharashtra region offers a great deal for investors in the commercial realm. Due to a mixed population of resident individuals to the ones working in the city’s major IT industries, it is bustling with businesses. One can even look at purchasing a commercial space that serves as a shared office space building for individuals that are freelancing or would prefer an office that comes with lesser cost and better amenities. Pune is not a cheap option but compared to its counterpart Mumbai, it is a steal deal for commercial investment.