Mohali has the potential to become the next real estate hub after Chandigarh in near future. Flattering connectivity to other big cities in North India, the presence of global companies, availability of premier educational institutes, international airports, sophisticated lifestyle – all these have prompted people to pump money in properties in Mohali. Hence it’s not surprising that you will have no dearth of options here if you want to buy a commercial space in Mohali. But you need to apply a lot of thought before investing in a commercial property for sale in Mohali. Don’t worry! Here, we will provide some useful tips for investing in commercial projects in Mohali.
1. Is the location suitable for businesses?
While purchasing a commercial space in Mohali, you should check the primary infrastructural development around the area and proximity of places of daily interest, such as market, office, and schools from the commercial space. A commercial property for sale in Mohali in such a location will guarantee of the footfalls necessary for a flourishing business.
2. Who is the developer or the builder?
You need to have a proper check on the background and reputation of the builder beforehand from various sources such as online customer testimonials. Don’t get lured by misleading or unrealistic offers by builders promoting commercial property for sale in Mohali. Verify whether the commercial space in Mohali is under any litigation or has any other issues attached to it.
3. Check for necessary approvals from the local body
Before investing in commercial projects in Mohali, have a thorough check on whether the commercial property has proper approval from the City Development Corporation and the concerned local body or not. Ask for the necessary documents from the promoter and if possible, get those vetted by a lawyer.
4. Check whether the commercial property for sale in Mohali has any financial liabilities
Before finalizing on the commercial space in Mohali, you should have a thorough check so that there is no financial liability on the property. Make sure that any debt associated with the property must be settled once and for all, before signing of the final agreement.
5. Have a thorough site inspection
Make sure to have a thorough site inspection to get an idea about whether or not the promised layout of the commercial space is similar to reality. You should also verify whether or not your shortlisted commercial projects in Mohali are constructed in accordance with the existing building and land laws of the region. Try to get details related to the type of materials used for construction and whether the amenities or facilities are available, as promised by the developer of the commercial property.
6. Assess the probable resale value in future
If investment is your only agenda and you just want good value for your money from buying commercial projects in Mohali, you would do well to choose the location where there is a high probability of an increase in real estate value in near future. Make sure to assess the probable resale value in future, before you decide for the purchase. Do your research and consult an expert, if required, to determine the correct value.
The Bottomline
There is a high probability of capital appreciation and increase in real estate value in near future in Mohali. Hence, it’s the perfect time to invest in commercial projects in Mohali.
Wave Estate is a mega project at the central location of Sector 85 and 99 in Mohali, which is offering high profile Shops cum offices (SCO) and commercial spaces at most competitive prices in the industry. The proposed space will have a mall, luxury hotel, multiplexes etc that will add to the many existing advantageous amenities.
