Types of Commercial Property

If you are looking for commercial property on rent, it is important that you know about the different types of commercial properties that are available. Commercial properties can be defined as those properties that are intended to bring income. While most people think that only office buildings come under the tag of commercial property, it is not actually true.

Industrial property warehouses, retail stores, malls, medical centers, etc., come under the term of commercial property. So before you look for commercial property in Pune, Delhi, Bangalore, Mumbai and other cities of the country, take a look at the different types of commercial properties.

Office Space: Office building and complexes fall under the category of commercial property. Office building comprises of a building which is entirely used as office space, which is usually a single tenant space. On the other hand, a complex consists of a cluster of office spaces. The owners rent out the property to various companies. You can choose from an entire building or a space in the office complex, according to your requirements, current staff, and future plans for your business.

Industrial Space: The next category would be industrial property, sometimes also known as warehouse property. Industrial properties are used for heavy manufacturing, light assembly, flex warehouse and bulk warehouse. Heavy manufacturing is a type of property that includes the manufacturing of heavy machinery, while light assembly includes structures that are used to store light manufacturing properties. This type of industrial space is usually used for product assembly and storage. Many times, it even has an office space.

Retail: Retail is another type of commercial property. This includes huge shopping malls, single shops, large grocery centers, small shopping centers, etc. Restaurants and coffee shops are also included in this section of commercial property.

Land: Land would be the next category of commercial property. Land can also be classified into three sections: Infill, Greenfield, and Brownfield. Infill is usually a developed, but vacant land located in the city. Greenfield is underdeveloped land, usually a farm area; while Brownfield land is land that has been previously used for commercial or industrial uses.

These are some major types of commercial property in Pune, Mumbai, Delhi, etc. Another category would be the miscellaneous section that includes hospitality, hotel, and medical structures. With the information on types of commercial property so clear, surely it would be easy for you to select one that you want to rent for your specific business purpose.

Tips to Choose the Right Office Space

Choosing the right office space for your business is an important decision. The right office can boost the growth of your business. However, many businessmen consider this decision to be a difficult one. A wrong decision can cause you to lose a lot of money. Hence, it is necessary to consider some crucial factors while choosing the right office space in Pune, Mumbai, and other such cities.

Office Size: Determine how much space you would require to set up your office. Going office space hunting without this idea is pointless. Moreover, there are chances that you may go for an office space that is too small or too big. If you get an office that is bigger than you require, you are actually wasting money. Check whether the space is enough for your official requirements. Consider factors like number of employees, expansion plans, number of conference rooms you would need, etc., before signing the office space contract.

Budget: Budget is another factor that you have to consider. Whether you are buying or renting office space in Pune, Bangalore, Mumbai, etc., money is something that you have to think about. Research about the prices of office spaces in your city. Internet would be a good place to know about these things. Also, check out several spaces before you take the final decision. This would help you to make an intelligent decision.

Location: Location is said to be another crucial factor while looking for an office. Having an office area in a prime location, an area which is closer to your customers as well as suppliers, would be great. However, you also have to be flexible when it comes to location. A prime location would not be perfect for your business purposes. Evaluating these details is crucial. 

When you get the perfect office space for your business, you may have doubts about whether to buy or rent it. This would depend on factors like you budget, expansion plans, etc. Each option has its benefits and demerits. Weigh the options well before selecting the perfect office space in Pune, Mumbai, Bangalore, etc.