Are you looking to invest in a commercial property in Chennai? You have come to the right page! Finding the best commercial property for sale in Chennai can be a tedious task. Let’s discuss how to find the best commercial property and make sure your investment is a smart one!
Commercial property in Chennai – Scope and demand
Are you looking for commercial property for sale in Chennai? Then this article is for you! Commercial property is one of the hottest selling real estate investments today. The development and growth of the IT and Corporate sectors in the country has resulted in high demand for office and commercial spaces.
Even though the real estate sector remained unabated through the pandemic, demand for commercial real estate did take a slight dip in 2020, with organisations shutting down offices and opting for work from home. Despite experiencing a drop in the market, the commercial real estate sector is on a path to a speedy recovery with real estate investors re-gaining interest.
With offices slowly opening up, commercial spaces are back up in demand, thereby emerging (again) as one of the safest and most secure investments. If you are looking to invest in commercial property in Chennai, now is the right time. To find the best commercial property for sale in Chennai, you need to keep in mind a set of factors. Read on to learn more about how to find the best commercial property in Chennai.
How to Find The Best Commercial Property in Chennai?
The commercial real estate market dominates the economy and is expected to contribute around 13% to India’s GDP by 2025. Chennai being one of the most developed metro cities in the country, is home to a substantial commercial market. There are a galore of options available for you to invest in commercial property in Chennai.
Finding and investing in the best commercial property in Chennai can be challenging. However safe the investment may be, commercial real estate involves high costs, which will require intense planning from the investor’s end.
If you are looking for a commercial property for sale in Chennai, consider the following factors before you zero in on your prospective commercial property in Chennai.
How To Find The Best Commercial Property In Chennai
1. Know the market
One of the first things you must do when looking for a commercial property in Chennai is market research. Though the real estate market is pretty steady even during volatile times, it is important for you to know the market’s history. Stay updated with the market trends and analyse the scope of future development of the market as well as the location and property. Knowing this will help you in choosing the right commercial property in Chennai.
2. Do not forget the location!
Location is an important factor to consider when you are looking to invest in a commercial property in Chennai. Commercial real estate investment offers the best of returns when you invest in a prime commercial area. Investing in a developing area is more advantageous in terms of high returns compared to investing in an already developed area, for the former holds more scope for growth.
3. Choose the Right Builder
When you go on to invest in a commercial property in Chennai, make sure you go for a property built by a reputed builder who has solid experience in the field. The credibility of the builder is extremely important. The higher the reputation, the better the quality, and will result in better returns as well.
4. Plan your Finances
Investing in commercial property for sale in Chennai will be a heavy investment. Therefore, you need to plan your finances right. See if you are better off buying a commercial property with a down payment or taking a loan for the same. If you are planning to take a loan, consult loan experts, and approach the banks that offer loans and charge the right interest rates.
Read More: 7 Different Types of Commercial Real Estate Risk
5. Consider your investment options
There are different types of commercial spaces you can invest in. Right from wholesale and retail shops to warehouses, office spaces, industrial and other commercial spaces, commercial real estate offers a plethora of options for you to choose from. Choose the right commercial property in Chennai based on the location, purpose of investment, and the returns you expect out of the same.
6. Do not ignore legal considerations involved
There are many legal points to consider while investing in a commercial property in Chennai, including insurances, planning permissions, safety and fire regulations, licenses and other accessibilities, and more. You will need to pay stamp duty since you are investing in a commercial property for sale in Chennai. These are better handled by discussing with a legal advisor, who will be able to guide you through these legal considerations.
7. Property’s layout plan
A property’s layout plan majorly impacts your operational efficiency. While investing in a commercial property in Chennai, ensure your property has been built with all the necessary approvals, complying with the construction laws laid out by the government and other construction and property authoritative bodies.
8. Acknowledge the risks involved
Any investment involves some amount of risk. Risk is an inevitable factor, especially when it comes to a heavy investment like real estate. When you invest in a commercial property in Chennai, make sure you take into consideration all the risks involved. You need to know the risks involved and plan how you will be tackling them when the investment is being processed. Review market trends and study the building’s history to learn more about the risk involved.
9. Understand the lease structure
The lease structure is different for commercial properties compared to residential properties. The lease structure for commercial properties is either 3+3+3 or 5+5+5 (9 or 15 years long). The tenant can leave anytime they want during the lease period, but the owner cannot ask the tenant to leave. Therefore, while investing in a commercial property for sale in Chennai, take time to understand the lease structure and the risks involved.
10. Talk to an expert
If you are investing in a commercial property in Chennai for the first time, you can take advice from experts, including accountants, legal advisors, and property consultants. They will help you navigate the buying process smoothly.
Doing these things while you invest in a commercial property in Chennai will help you land the best property out there. As an investor, you must be very careful with your investment. Since it is a heavy investment, mistakes cannot be undone easily.
If you are looking to invest in a commercial property for sale in Chennai, welcome to Market of India, India’s largest wholesale and retail market that offers commercial property for sale in Chennai.
Market of India – Commercial property for sale in Chennai
Market of India, from the house of SPR, is India’s largest wholesale and retail market. Located within SPR City in the heart of Chennai, Market of India offers office spaces, commercial spaces, wholesale, and retail spaces for sale.
Here’s why Market of India is your ideal choice if you want to invest in commercial property in Chennai.
- Market of India is India’s largest wholesale and retail market, with an expected footfall of 40,00,000 per month.
- At Market of India, we have an online marketplace accommodating over 1,00,000 products. This will help you take your business beyond the confines of a shop and help you reach a wider audience at a faster pace.
- With 20+ ancillaries, Market of India offers traders and businessmen 100% online marketing support too.
- Market of India is a first-of-its-kind organised market with a total built-up area of 54,00,000 sq. ft. The space comprises 9+ markets and 5,000 shops located in a trade corridor that is 18 kilometers long. Apart from this, Market of India also houses a Central Plaza of 1,00,000+ sq. ft. and an Atrium of 30,000+ sq. ft.
- With the Chamber of Commerce, Market of India opens international gates for your business. This helps traders network easily and collaborate with the best of trade and logistics partners, who will help you maximise your sales, growth, and profits.
- Market of India comes bearing an array of world-class amenities, including advanced security features, 24 access points, a food court, and more, that will aid in conducting seamless trade.
If you are looking to buy a commercial property for sale in Chennai, reach out to us at Market of India. Shops start from ₹40 lakhs!