Commercial property is the part of the real estate industry which is used for business activities. They are generally used to make profits and solely used for business purposes. The profits can be made either through capital gains or rental incomes. Today, commercial property is in high demand as people are keen to invest and make money through it. Also, developers are investing in building commercial property as they are more profitable and give long term benefits. For example – Bhutani Cyberthum is a commercial property that is equipped with new and ultra-modern technologies.
There are various factors that help in determining the value of commercial property that is for sale.
- Conduct research
The first step to determine the value of commercial property is to do research, a lot of research. Research helps in providing proper knowledge and current scenario that acts a major factor in determining the value of the property.
- Cost Involved
The other main point is the cost involved in construction of the commercial property. No one will bear losses on his or her pocket. Thus, evaluating all the cost that is involved and then determining the price in order to be at least reach the break even figure. The calculation of cost is very important as wrong calculation will lead to huge losses. There should be a margin that is to be kept that adds to the cost and then price is evaluated.
Location! Location! Location! This is one factor that very well speaks for itself. The property location is what all matters. This factor determines and also adds much value to the commercial property. A prime and most promising location serves as a treat to buyers and usually holds more price than the one that has not so good location. Like: – Bhutani Cyberthum commercial property at Sector -140A, Noida is located at very ideal location.
- Neighborhood prices
Another important factor in evaluating the value of the commercial property is the price that is prevailing in the neighborhoods or the surroundings. If the prices are kept too high than the neighborhood prices then this will lead to less demand whereas if the prices are too low then there will be losses for the developer. So, the value should be determined in the way that it is nearby the surrounding pricing. For example – Bhutani Cyberthum office spaces starts at Rs 12 Lakhs* and retail shops at Rs 54 Lakhs* only.
- Rent Availability
Rent availability is another important factor that either appreciates or depreciates the value of commercial property. If the rentals are easily available then the property value tends to be high and in the case low demand in rentals then it leads to lower value of the property. Like: – Bhutani Cyberthum Commercial office spaces and retail shops have assured rentals and lease guarantee.
Thus, these are 5 Tips that help in quickly determining the value of commercial property that is for sale.