For people looking to invest in a corporate space even if that is just a small office space for sale in Kolkata it is imperative to look closely at the location of the property. Depending on the type of business you run you need to think about how connected you need to be to other people and local businesses, and what you need to be close to, main roads, transportation and such. Here is a look at some of the important factors to think about in terms of buying a commercial space.
Finances
In the most popular areas of the city, where there are other expensive commercial properties doing very well, you are going to have to pay more to enjoy the benefits of being in the best area. There have been a lot of changes in the Indian real estate market, at the moment in order to get a mortgage, business or home, you need to have the money for a pretty large down payment. As the market conditions start to improve it means more people are looking for office space for sale in Kolkata and when you are competing against other buyers the prices are going to start going up again. It is not just NCR regions and Delhi that are popular. Cities like Kolkata also are popular.
Leasing or buying
Whether you are leasing or buying you need to look at what else is local, how easy the property is to access and what kind of commutes employees would face. Is it already furnished or will you need to handle that too? Can you afford to buy a property right now or would renting make more sense until you have saved some more? If you are buying could you lease some of the space to another business or two to earn another income? What condition is the property in, does the water work, the power, what does a proper inspector say?
Asking the right questions is essential
It is always a good idea to question everything and do your homework as well as seeking advice from experts when you are looking for a small office space for sale in Kolkata. It is easy to make mistakes and then get stuck with a property that is too small as your business grows, or not able to afford the loan and lose it, and possibly your business too. You need to have flexibility when you are buying, perhaps the property that is not quite perfect could become so in a couple of years. With an agent who has experience and knowledge make a list of affordable spaces and explore them with an open mind.
It is a fact that over the last 5 years property values have increased in many major metro cities in India, in some cases by as much as 20%. With the cost of materials being higher than ever, and the cost of labour also soaring it is predicted properties in Kolkata might increase in cost by as much as 30 to 40% in the next 5 years. If you want to buy office space for sale in Kolkata, now might be the time to get ahead of that price rise.
