What should be aware before buying commercial property in Gurgaon

Gurgaon has established itself as an important commercial hub and an integral part of the global business ecosystem. This city is home to thriving businesses of all kinds. Right from the basic roadside stalls with a great turnover to the corporate giants, all kinds of businesses have been able to find a footing in the city. Encouraged by the growth curve of the existing businesses in the city, many others are keen on setting up businesses here. 

Retailers are especially keen on setting up retail stores here as the city has an excellent customer base with people having high purchasing power. The city houses many software professionals, high-profile businessmen, hoteliers, advertisers, and high-salaried people from all other professions. The retail market of the city is thriving, and retail shops, especially those within commercial complexes, are doing well. It has also resulted in excellent demand for retail properties in the city and a subsequent rise in the retail project price in Gurgaon. Although there are many commercial projects in the city, it is wise to be cautious if you are plan to buy to ensure good ROI. The article presents an overview of the things to look for when buying commercial property in Gurgaon:

The Location: The property location has a vital role to play in ensuring its success, more so, if it is a retail store. It is primarily so because the footfall of customers is highly dependent on the location of the property. A retail property which is right on the main road and well connected by all means of transport is certainly positioned better than those in the interiors.

Visibility: A retail store in a commercial complex with good visibility would attract more customers than that hidden away from easy sight. As such, it is gainful to buy retail property in a store that is visible from far off. The position of the building should be such that the signages of various businesses operating within the building are visible, so customers know about their presence.

The Infrastructure: Before buying space for a retail shop within a commercial complex, one must carefully assess the property infrastructure. It should have dedicated areas for retail shops, entertainment zones, food courts, etc. The property should also have ample open spaces and parking spaces for the convenience of customers.

Price Point: Before buying or leasing space for any retail store, it would be extremely helpful to check the retail project price in Gurgaon of other similar properties. This will help one assess whether the property is overpriced.

In addition to the points mentioned above, checking for factors, like, permissions, NOCs, etc. can certainly help buy or lease a good retail space in Gurgaon.

Article source: https://article-realm.com/article/Finance/Loans/28689-What-should-be-aware-before-buying-commercial-property-in-Gurgaon.html



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