Vizag Commercial Properties for Sale – Things to Know

Number of buyers searching for Vizag commercial properties for sale has increased manifold in the last couple of years. The cosmopolitan port city has found renewed interest in its real estate owing to infrastructure development, availability of land space due to expansion, and focus on the city as a potential state capital due to the Telangana issue. However, buying and owning a commercial property, although rewarding and exciting, can be daunting. Summarized below are the things that buyers should know before investing in commercial properties in Vizag –

Investigate the area

When it comes to commercial properties, location is an important aspect. Buyers should consider a host of aspects surrounding the

Vizag commercial properties for sale

region – average property values, the socioeconomic status and income levels in the area, the demographics and the ages of the residents, unemployment rates, and even growth rates in similar areas. This will help buyers understand how the neighbourhood is likely to change and grow in the coming years.

Investigate trends and popular areas

While buying Vizag commercial properties for sale, it is always better to be aware of the real estate trends in the region; not to mention popular hotspots and focus areas for commercial real estate. In Vizag, commercial real estate space is the most sought after in areas such as Siripuram, Sampath–Vinayaka Temple Road, Daba Gardens, Rama Talkies–Maddilapalem Road, Asilmetta Junction, and Dwarakanagar and VIP Road. Rentals in these areas ranged from INR 80 – 110 PSF. Also, the lower floors of buildings were seeing an upward trend rather than the upper floors.

Working with a partner

Sometimes, getting loans for buying commercial real estate can be hard. The process is relatively easier if one has a deal partner that one can trust in terms of reputation and financial standing. Having a partner has its benefits – not only is it easier to qualify for loans for purchasing the commercial property, but it also means that one has an extra hand to help qualify for credit and make the necessary down payment towards the loan.

Hiring a broker

When it comes to investing in Vizag commercial properties for sale it is better for people, especially the first time buyers, to hire a broker to oversee the entire process for them. However, one must make sure that the broker they decide to work with has enough experience in the commercial real estate market in Vizag.

Feedback and reviews

One of the best ways to get feedback about the property and the area you are looking to invest in is talking to current renters of the properties in the building or the area. One can find out about the neighbourhood in general, the clientele, the rent rates and returns in the last few years and currently, how to go about renewing leases and what aspects to look for before investing in commercial property in the area. This will give buyers a good idea about the potential profits they can expect while investing in commercial real estate.

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