A booming IT hub, the manufacturing belt of western Maharashtra, and a city that fosters numerous start-ups; Pune is no more just the “Oxford of the East” and “Cultural Capital of Maharashtra.” It now houses an equal number of organisations and professionals working in information technology, automobile industries, manufacturing industries, and other areas. As more and more commercial ventures shift their base to the city, there is an ever-growing demand to find the ideal commercial property for these organisations.
Here are a few things to keep in mind when buying commercial property:
Perhaps, the most important parameter to consider when buying a commercial property in Pune or elsewhere. The location of your property impacts your RoI. Also to be taken into consideration is the connectivity between residential and commercial areas, the infrastructure of the area, and its visibility. Kharadi, Hinjawadi IT Park, Baner, Mundhwa, and Magarpatta are among the hot spots in the city for commercial investments.
Commercial properties everywhere are notably more expensive than residential buildings. They also need more maintenance and have varied requirements. When there’s so much at stake, the developer’s reputation and track record matter. Ensure your developer has a good market record and lives up to these requirements.
You are less likely to fall into a trap and face losses when the developer follows the ethical path and has goodwill. Contacting builders registered with MahaRERA brings down uncertainties about the property.
The property’s future growth prospects:
Any investment, long term or short term, should be analysed for its price appreciation and rental trends. This will give you an idea of how to plan your finances for the future. For quick returns, invest in properties previously leased.
Your organisation’s requirements:
When leasing a commercial property for your workplace, make sure that the property fits your demands. Take into consideration your organisation size, employee count, budget, and scope for growth before you finalise a property. Also ensure that it has amenities to suit your requirements including conference rooms, appropriate lighting, and wiring, furniture if any, etc.
Paperwork and legalities:
For a smooth sailing process of buying your commercial property in Pune, ensure you have your paperwork sorted. Keep in place all your ownership and mortgage documents. Try to understand the legalities, especially the lease structures and contracts. Get professional help wherever required.
Pune, with its growth opportunities and establishments, is an investment opportunity that ticks all the right boxes. Its connectivity to other cities through airways, railways and roads, and a well-developed network internally for transportation make commute easier. With several organisations having their base in the city, and in close proximity, you get an edge over your competitors. As real estate continues to grow in the city, you are bound to get appropriate appreciation for your investments.
Pyramid Axis, with its state-of-the-art office spaces and architecture, makes the ideal investment choice for commercial spaces. Located in Baner, these dynamic co-working spaces are designed to help your business grow and prosper. With evolved offices spaces nearing possession, now is the right time to buy a commercial property. To know more about us, visit www.pyramidlifestyle.com