Tips to Buy Commercial Property in Bangalore

Commercial Property

Purchasing a commercial property in Bangalore is an excellent investment in this cosmopolitan city. Thanks to IT revolution Bangalore became the new IT destination for many software companies in these two decades. Commercial properties are the most coveted piece of real estate in this city. Here are some pointers that must be kept in mind when buying commercial property in Bangalore.

Assemble Your Team: Before making a commercial real estate deal, have your team ready. You will need an accountant to help figure the businesses affordability and analyze taxation issues and for operating budget benefits. Hire a legal lawyer who can help negotiate and complete the transaction in your favour. You will also need a commercial broker to identify potential properties that fall under your budget and are at par with your requirements. Finally, you may require a mortgage broker to discuss different financing options available for you.

Know Your Papers: Before buying commercial property in Bangalore or for that matter anywhere, it is important to collect and look through many documents before finalizing the deal. With the advent of technology in property registration process, the number of real estate frauds has reduced considerably. However, there are still few gullible people who fall prey to dubious real estate agents and false papers. Employ a good real estate lawyer and verify the documentation including the content of the Sale Agreement and Sale Deed. Ensure the property has no loans dependent on it and get the sale deed registered in your own name or your company’s name. Ensure you have seen the original documents and not the duplicate documents. You must be completely satisfied with the authenticity before making any payments.

Right Location: The location that is considered “hot” today may be tomorrow’s “not” neighborhood. Decide the right location taking into consideration all your personal requirements and needs. Commercial properties that are situated in the city’s commercial center have a higher sale value than others. A point to be considered here is the fact that you must be close and convenient for customers and staff.

Good Infrastructure: As this property will be an investment of your hard earned savings, it is important to ensure the basic infrastructure including lifts, lighting, furniture (if furnished) and other factors are good enough. Ensure that it is spacious enough to accommodate all employees.

Access and Parking: You may want to consider other important factors for customers and staff such a proximity to parking or to eating places close by.

Expansion: If your business is growing and expanding, you may want to consider leasing or expanding your present space into a bigger one. It is a good idea to think over this factor before making a decision to invest in a commercial property.

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by Sridhar Kulkarni via Shriram Properties Bangalore