How to Choose the Perfect Commercial Property in Pune
Pune is one of the metro cities in India which contains leading IT industries, and educational institutes. The city offers opportunities for business owners to establish their presence in this city. While investing in commercial property in a vibrant city like Pune, you need to consider the possible pitfalls that may come in your buying journey. So, whether you are looking for office space, or retail space, you must know the aspect to look while choosing any commercial property in Pune.
Tips to choose the perfect commercial property in Pune
Check out the location
Your commercial property location can have a great impact on your business success. In Pune locations like Bavdhan, Hinjewadi, Magarpatta, Shivaji Nagar, Kharadi are good choices for investment because of their proximity to IT parks, and educational areas. While investing in any of these locations you must think about traffic, proximity to your target audience, and accessibility.
- Accessibility: It means the location must be close to highway, airport and public transport.
- Traffic and visibility: For retail business, greater foot traffic and visibility can lead to sales and brand awareness.
- Zoning regulations: Your invested property must be zoned for your business type to avoid any legal complications.
Space and layout
The size and layout of your commercial property must satisfy your business needs as well as future needs. Consider below points:
- Square footage: As per your business think about the space you will need as per your business operations, future growth plans and employees.
- Layout: You must invest in commercials with functional layout. Your space must comprise of office partitions, storage space, and meeting rooms.
Infrastructure and amenities
Look for the internet connectivity and amenities available in the building.
- Internet connectivity: Choose the commercial with the facility of reliable high-speed internet.
- Parking: Your employees and customers must have enough parking space.
- Security: Ensure that you buy the property with proper security measures, like CCTV camera and access control systems.
Check the property
Once you shortlist some of the properties which are meeting your expectations you can give a close look to each of them to know about them better:
- Property condition: Check the overall construction of the property includes the beams and pillars to know their robustness. Pay attention to all electrical and water connections, and let the builder know in case of any repair work.
- Compliance and regulations: The entire construction work must comply with zoning laws in the community. Hence you must ask for the desired permits and license from the builder as these are important documents that your builder must have to do the construction work in any state.
- Safety and security: You must check the security of the property especially the safety from fire and other security arrangements. Also look at the neighbourhood and ensure it is safe.
Look for future growth
While investing in any commercial property, its future growth plays a pivotal role. Your chosen property area must experience future development which can appreciate your property value in future. Hence you can inquire about the same and invest in an area which will experience a surge in price in future.’
Financial considerations
You must check the financial aspect of the property closely.
- Look for various funding sources, and select the one which match best with your requirements.
- To know about the potential return you must compare the asset present value with the property cost by keeping rental income or business returns in mind.
- Inquire about any hidden charges like property tax, insurance or maintenance charges.
Take professional advice
You need an in-depth knowledge of real estate market to invest at the best place. Taking a commercial property in a city like Pune requires excellent understanding of the market to grab the best deal which can give you best return over investment in future. Taking help of a good real estate agent will help you in such situation. These professionals can advice you right direction and can help you in getting fair price of the property. They will also help you in documentations to avoid any complication in future.
Conclusion
Buying the best commercial property in Pune is a challenging task, as it requires proper analytical approach. You must keep in mind the location, market condition, and obviously the cost. While finalizing your buying decision you must review all the property documents carefully. Take advice from a real estate agent to make the right decision. A good investment will always allow you to expand your business and increase your return over investment.
So, do you want to invest in commercial property in Pune? Go ahead with the above-mentioned tips to excel in your future. These tips can help you a lot while making any buying decision.
