The Indian economy is showing positive signs of growth, giving a tremendous push to the business sector. Established companies are expanding their business while the number of startups and SMEs is mushrooming. It isn’t surprising that the demand for office space for rent is on the rise.However, choosing your first commercial office in any city could be a tricky affair. If you don’t conduct due diligence, you may land a sour deal.
Here are some useful tips to bear in mind to save yourself from all hassles.
The size of the commercial office depends on the number of employees, equipment/machinery/furniture and other requirements as per the nature of your business. If you buy small office space for rent, then everything will be congested and disorderly. If you buy large space, it could lie underutilized. You also have to anticipate the future requirement when you may require more space as your business grows.
The location of your office should be such that it is easily accessible to your employees, clients or customers. It should also be located in the upscale or respectable vicinity. If there are restaurants, connectivity (metro, bus stand, cabs)and other lifestyle amenities (gyms, daycare) nearby, the location is even better. However, such locations can come costly, especially if you are searching for office space for rent in Mumbai, Bengaluru, Gurgaon or Hyderabad. So, consider a centralized location.
You have found the right size and location for your commercial office, but is the rent within your budget? Along with the rent, the price tag is also associated with maintenance, parking space and other utilities. All these are an outflow of income and add to your operating cost. It is advisable to estimate the price you are willing to shell out before you think about ay office space for rent. If there are several commercial spaces in the same premises, it would be a good idea to compare their prices. At times, factors such as the floor, front/back entrance, security, etc., can make a significant difference to the price. Also, check out if there is more than one real estate agent/agency for the same location. You may be able to negotiate a good bargain on your terms.
4. Legalities and Documentation
Whether you are taking office space for rent in Mumbai or any other city, you must not be nonchalant about the paperwork and legal formalities. Check that the seller/lessor has all ownership documents in place and is not involved in any unfair practices. You must sign a rental agreement before taking over the office and ensure that it includes clarity on the following provisions:
- Period and renewability of lease
- Rent amount
- Amenities included in the rent
- Terms of maintenance, parking, utility bills, security and other infrastructure
Buying your first office is an exciting phase, but that should not overrule your judgment. Choose a space that meets the maximum number of parameters that matter to your business.
Know-How Real Estate Developers Gaining Popularity by Developing Smart Projects
Kolkata, West Bengal have seen many changes over the period of time, the people, the streets, the residential structures, the streets, newly developed bridges, flyovers, skywalks and what not are being developed in this city. Day after day Kolkata has taken up challenges to become one of the best place to stay, work and play. People from different countries, cities, and states are coming over to Kolkata, due to this the real estate developers started to expand Kolkata’s boundaries and improve the quality of their high rise structures too.
Each and every one is working pretty hard to make this city joyful again. It is the home of big time multinational corporations (MNCs), IT companies, chartered firms, clothing business houses, export & import businesses, and many more. It is one of the greatest city where one can even get lost while exploring the depths of Kolkata. The city may look small in GPS or Google Earth, but no it is not small it is huge with water bodies, with small to tall buildings, temples, museums, tourist spots, ancient buildings and many things.
People all over the world visits Kolkata to understand that how this city is managing all these new developed changes on a daily, monthly and yearly basis. Since the 1984 to 2018 many suburban areas of Kolkata started to develop metro railway station to stay connected each and every part of the city. Places like Dum Dum, Phoolbagan, New Garia, Garia Bazar, Bansdroni, Tollygunge, Jatin Das Park, Rabindra Sadan, and many other places have metro rails some are very old and some are newly developed. Kolkata even has some of the best hotels, restaurants, and resorts, each one of them provides the best feeling one can get in any other city or country.
Kolkata has some of the top reputed and renowned real estate developers too, they strategically designed, developed and constructed new homes, residential complexes, apartments, duplex bungalows, and many more in different places in Kolkata. One would not believe the newly developed constructed buildings and homes all come to the near vicinity of the city with super fine transportation, yes people can travel to different places from their homes. Real estate companies are actually giving help to the growing population of Kolkata, they are building high-tech projects which will offer hordes of facilities like swimming pool, kids pool, children’s playing area, spacious parking areas, shopping malls, departmental stores, badminton & tennis courts, food courts, cycling & jogging tracks, and what not.
For so many years people of Kolkata got accustomed in living their lives within concrete jungles, they were tired of their old way of living, some even complained to themselves that buying homes in this city has made their lives happy to sad. After so many acquisitions came to the doors of Government of West Bengal that people need new open area spaces to live where they can find nature’s touch and the feel of living life peacefully. This made many real estate developers think that, now they need plans of making Kolkata grow more beautifully with the presence of nature. Instead of making concrete jungles they need to make buildings luxuriously, which can provide comfort and peace of mind at the same time with the presence of nature within the residential projects. One thing more real estate developers need to keep in mind is that they should not price up their projects so aggressively as this will turn down many potential home buyers.
In the early days the price of residential apartments and flats used to cost way much people used to think twice before investing in them, and many even turned their backs on the face of many newly developed buildings. But everything changed in the second third quarter of 2017. When demonetization shook India and lowered down the real estate market estimations which disappointed many such real estate developers. But Kolkata somehow managed to shake this thing off!! Real estate developers started to provide add-on schemes, different deals and discounts and even lowered the rates of their residential projects. This actually lured out many positive and potential home-buyers as they were getting their dream flats and apartments without burning a hole in their pockets and bank accounts.
Real estate developers strategically planned their way out during these hard times which made them experience that what people of Kolkata wants from them and what needs to be done in the correct way. Due to this plan nearly 40% people started to buy flats and other residential projects in Kolkata. Till now also in the 1st quarter of 2018 real estate developers are building smart homes which provides varieties of amenities and facilities. It is indeed one of the best time to buy apartments in Kolkata. As people are getting value for money residential properties to live their entire lifetime.
Mr. A.S. Sivaramakrishnan the Head of Residential services CBRE South Asia Private Limited said in a press conference that Kolkata had a steep rise in their real estate market in the year of 2017 – 2018. This happened because the investor demand was met perfectly when it was compared to what real estate developers were offering the same with high price rates in some of the premium locations in India. Real estate developers in Kolkata have become aware that what people of Kolkata wants their new homes to be like.
In order to push their residential properties in the markets they literally lowered down the price of their properties so competitively that they even restricted giving a hike in the price for the time being. This simple implementation of idea led to the overall improvement of the hike in the real estate market of Kolkata. They were able to get around 76% house demand from the end-users of Kolkata till the Q1 of 2018.
Now whatever residential projects are being in Kolkata every projects are being offered with the touch and feel of nature present within the projects. The residential projects are becoming more tech savvy. Real estate developers are trying to design and develop new automated homes so that buyers can control the whole ambience of their new homes with a simple mobile application. For example with the help of mobile applications home buyers can switch on and off the lights, fans and control the air conditioning systems. Residential developers are trying their best to make new homes which can be customized by the buyer later on whenever they want. Even experts say that energy efficiency have become one of the hot topics of a smart home as by the use of some sophisticated tools in smart homes can help in reducing the overall consumption of energy which further helps in cutting down the cost of electricity bills. This helps tech savvy buyers to get value for money smart homes in Kolkata. Even the security of these smart homes have been improved as the residential projects are being built with pre-installed smart CCTV surveillance cameras which have the capabilities of recording wide angle videos and can even work during low light and foggy areas.
With these possibilities real estate developers of Kolkata are developing the lands of the city to its potentials so that in the upcoming future people will be able to live happily in their brand new homes.
Perfect Agent: How Technology Will Transform The Real Estate Industry
Technology keeps growing over the years, gradually taking over many sectors around the world today. Real estate isn’t left out either, as it has constantly improved technology-wise. With technology coming up with new upgrades every time, we can be so certain that real estate also aspires for the best in technology.
Selling and Buying a house is now much easier with the use of smartphones and technology, where a lot of things are now a click away. While we know that technology is here to stay, we might not be ready for the kind of transformation it will have on the real estate industry.
How Has Technology Transformed the Real Estate Industry So Far?
There are lots of information about real estate that you need to know, and technology helps make this easier. You can now get all the information on several websites, where everything is explained and broken down in detail. This will help you know about pricing, how to identify a licensed real estate agent, home listings and updated data necessary for you. This opens you to a lot of things you need to know, and there is virtually nothing to hide from the public eye.
- Online Reviews And Ratings
The real estate industry often make use of reviews and ratings on homes and services. This will help clients to review other clients or real estate properties and rate them, providing enough information about them that other prospective clients might need. The reviews and ratings also help to uncover purchase history and criminal activities in a particular area and help clients weigh their options before making decisions.
- Enhanced Speed
Real estate used to be a pretty long hectic process before technology came into the picture and made things faster and easier. You can now buy and sell even from the comfort of your home, due to the improvement of technology over the years. You won’t have to gather too many paperwork when you can schedule meetings and sign contracts via the internet. Buying and selling are even faster now, as you can put your building up for sale with all the details involved, and have many people view and indicate their interest.
Marketing has dramatically improved via the use of social media, and it has never been so easy as it is now. With minimal cost, struggle, and risks, you can reach thousands of prospective clients and make sales. Social media marketing and SEO have gone over the roof in technology now, as it helps to draw in a lot of views on any property you have on sale.
- Exploring New Areas Using Digital Tools
With digital tools, you can now explore new areas without being physically there. This will save you from a lot of stress and expenses, and you end up saving more. In addition to exploring new areas, you can also have access to marketing techniques and tactics, making things much more comfortable for everyone.
Technological Advancements in Real Estate
- Big Data
Every sector in the business world relies on data to thrive, and it is no different for the real estate industry. With technology, real estate can go farther by making use of their data, which gives an insight into past records. This will help them see their strengths and weaknesses and know where to improve. With time, they will have an improved and more realistic data that will be helpful in projecting.
- Blockchain Analysis
Blockchain technology helps to record transactions across computers, including bitcoin transactions. With more property listings, records and transactions, blockchain technology will be efficient in the real estate industry. This will help secure transactions and make it difficult for records to be altered since it’s already networked across many computers.
While technology might be gradually transforming the real estate industry, the place of people playing their part physically can’t be erased entirely. Some people give advice and counsel to buyers and sellers who would need them. Also, beginners in the business will need to understand how real estate works fully, and in this case, getting an expert in the industry to put them through is often the best option.
The Advantages of Using a Real Estate Agent
If you are considering buying a home, you can choose to do the search on your own or by hiring the services of a professional to help you find the house you are looking for.
Looking for a home on your own to buy it is a very big expense and you will have to invest a large part of your free time in it. Once located, you will have to carry out each and every one of the processes to buy the house. In a lot of occasions it is essential to use the help of a real estate agent, so that can give his recommendations on the acquisition of a property.
Real Estate Agent is a professional who always knows how to choose the best deals in terms of housing, in addition to knowing the sector. You have to bear in mind that buying a home is one of the most important investments you will make throughout your life, and that is why it is essential that you put yourself in the hands of an agent who helps you with all the steps.
Advantages of Using a Real Estate Agent
- The first thing is to evaluate your needs and locate the properties that meet those characteristics. Real estate agent will also determine which properties you can afford to buy and will adapt to the price range and area you are looking for.
- He will accompany you in the visits to the houses or you will previously visit the properties in your name to make sure that they meet your expectations as a buyer.
- Analyze in detail the properties you have selected to identify any hidden problems and thus help you make an accurate decision before making the purchase.
- Present the offer to the seller and negotiate with them so you can acquire the property in the best possible conditions.
- Real estate agent will help you obtain the most excellent possible financing to carry out the purchase and will review all the documentation.
- When you sign the contract, he will be there and will provide you with a list of quality providers (such as removals, lawyers, painters, etc) when such services are necessary, informing you at all times of possible commissions or benefits.
- But above all, he will represent you completely during the entire real estate transaction.
- Help you to find out best home in the best area where all your need get fulfilled
That is why if you hire a real estate agent everything will be advantages since it offers you the maximum guarantees so that any operation in the real estate market is developed successfully.
Larry Weltman Toronto is one of best real estate agents in Toronto region who is always ready to help their customer. He is known because of his most excellent services that he provides in the field of real estate. Larry Weltman office is situated in Ontario, Canada.