The retail market is booming in Mohali and the prospects of opening a showroom, buying a commercial property for sale like some office space or an Industrial land is quite good. The timing of buying your type of commercial property has to be right and the city is offering a hoard of opportunities to commercial property buyers in terms of price, surety of returns and ideal locations.
Presently, Mohali is witnessing the advent of many renowned IT multi-nationals and development from State Government authorities. With impressive infrastructural set-up and abundance of land, the investors are looking for best options that can fetch them higher profits.
Things to assure before buying a commercial property in Mohali:
- Kind of commercial property: –
It is better to ensure the purpose of buying a commercial property i.e. whether you want to buy a commercial office space or a commercial shop, you want to buy an industrial land to set up a company or factory or build a mall. It will help in finding the right location.
- Analyze the development plans:
Foresee the prospects of location of the commercial property as to how far it is from city, how much rent it can obtain, construction & decoration time, size of the property must fit your business purpose etc. before buying the land space.
- Government regulations:
It is essential to get the green signal from the state government and relating authorities before buying commercial land or establishing any business set-up on the land. Hence, get legal assistance from the experts to understand the requirements needed to buy the commercial space and solutions to remove the obstructions, if any.
- Price to negotiate:
Compare the prices offered for sale with the market prices and government-approved prices. It will help you in negotiating and get a good bargain for the commercial property you are planning to invest in.
- Plenty of land parcels in Mohali:
The growth in infrastructure and availability of land spaces in the city is good enough to attract commercial property buyers. In addition, Mohali is one of those cities that is a part of smart city initiatives. The state government has started many campaigns like ‘Ghar Ghar Naukri’ which can help new commercial ventures to get assistance from government, banks etc.
- Rapidly turning into IT hub:
In recent times, it has been observed that many IT companies are setting up their companies in Mohali like Dell, Emerson etc. This can boom commercial as well as residential real estate sector by giving them a chance to kick start new commercial ventures.
- Growth in residential developments:
With mushrooming of residential properties in Mohali, it will positively impact the commercial real estate and attract commercial investors like Wave Estate in Mohali.
A lot of big institutes, top notch medical colleges, blue chip companies , world class healthcare centers are entering into the space So, do not miss your chance to own a commercial property in this booming city.