The real estate development in Mohali is not a single phase activity. Investors, big corporates, local & central government have poured untiring efforts to make this an organized one. Ports & Harbours, international airports, wide roads and sophisticated lifestyle – all these attract people to make out a significant investment in the region. In this blog, we will help you with some useful tips for purchase of commercial property.
1. Who is the developer?
Before buying any commercial unit, one should inquire about the developers, their other on-going projects, presence on social media, customer testimonials. Whether they provide construction updates at regular intervals or not?
2. Do all the concerning authorities have signed the paper?
A crucial aspect while purchasing the property that all the concerned authorities have given the permissions required for buying a commercial property. There should not be any single authority which has not given desired permissions.
3.Is the location of your property suitable for your business?
While purchasing a property one should check the surroundings, things like connectivity to hospital, prospective market, nearby police station etc. Wave Estate offers shop cum offices commercial ranging from 140 Sq. yd. to 200 Sq.yd.
4. Have you investigated the financial liabilities of the property?
Before finalising the property, one should need to check that there is no financial liability on the property. And if there is any debt on the property, it must be settled before the final agreement.
5. Have you visited the site?
Before making out any booking, make sure to do a thorough site inspection. Good developers give the plan, where the layout of the building remains similar with reality.
6. Which all banks are financing the project?
Today, most of the developers approved their properties from the leading banks. Find out which lender is offering the loan at low rate of interest.