Millennium City Gurgaon in the recent time has become a leading financial and industrial hub with the third-highest per capita income in India. The city has 3,775 sq ft of modern retail space per 1,000 population.
It is relatively young, when compared to other cities like Delhi, Mumbai and Hyderabad and has most of the retail sector in the modern format with a striking 78 per cent being concentrated in malls. The Millennium City also leads in the modern retail space for households earning more than `300,000 per year, closely followed by Central Delhi, Noida and South Delhi. The concept of mixed-use spaces has contributed to the ample modern retail space in Gurgaon, and owing to the corporate character of the city, ground floor retail spaces in office buildings add to its modern retail footprint. Continue reading “Gurgaon’s emergence as a retail space hotspot”
Being the most prominent township of Gurgaon, Vatika India Next is a model city built and designed around keeping in mind the comfort and an exceptional living experience for your family. Though the township spans across hundreds of acres surrounded by surreal greenery and open spaces, everything is available within a mere walking
distance; be it schools, grocery marts, healthcare, parks, salons, offices, gyms, entertainment etc.
Wit around 2000 families already residing and approximately 5000 families expected to move into the township by 2015, Vatika India Next is already up with four major commercial spaces to serve the of expectant population of 5,00,000 in the coming years . The commercial spaces are INXT Market Place 1, INXT Market Place 2, Town Square and Town Square 2. Continue reading “Vatika India Next – “A vibrant mega township comes to life”
Buying commercial real estate is not an easy task. It is a complex process and at times it becomes even difficult for experts, which also include the entrepreneurs or business executives, to make the correct decision on investing at the right place and maximize their investment value. Also, there is a risk involved in retail space for rent or sell, as sellers, buyers, renters, agents, all can suffer the consequences of a rise or fall in demand. Luckily, the real estate in Gurgaon, brings to you various commercial retail space options in various parts of the city, which have substantial potential rewards for the buyers as well as the sellers.
Let us look at the major factors that must be considered before purchasing retail spaces in the millennium city.
Location: Like residential property, location remains at the No. 1 position for commercial properties as well. Location is always a crucial factor for retail spaces for sale. It must be easily accessible. Continue reading “Buying Tips for Retail Spaces in Gurgaon”
If you are a retailer who is willing to expand his/her business, there cannot be a better option than choosing a retail property for lease. However, investing in a property is always a risky decision, and one must ensure that he/she is extremely careful in the process. Also, you must ensure that you are not fooled by anyone who is giving you the retail space for rent. Here are a few tips that can help you in negotiating a retail commercial property.
Continue reading “Tips for Negotiating a Retail Commercial Property”
Investing in a property is a tough decision, and once you make up our mind for the same, it is certain that you want the best. For businessmen starting their own business, one option is to opt for retail spaces for sale or opt for a retail space for lease. However, renting is always a better option. When you look around, you will find various retail spaces for rent, and this is when people tend to get confused. In this confusion, everything looks the same and narrowing down the options becomes a tedious task. Always make sure that before you sign any agreement, you are sure of the choice you have made. To make your work a little easy, we bring to you ways in which you should proceed while searching for a retail commercial property.
- Step 1: Never take a hasty decision. You will have a number of options around you, so make sure you explore all the options before choosing a commercial space. Choose a location near the malls or plazas or choose a space that offers ample of parking space. Which place is offering you what can only be known once you have a look at all the options available.
- Step 2: Never go out of your budget. While calculating the budget also include the hidden costs and the cost of insurance. This will give you an idea of the monthly expenditure you will have to bear. Most of the times, people miss out on calculating the hidden costs, which later on becomes extremely heavy on the pockets.
- Step 3: Once you have narrowed down a few choices, do not go only by the outer appearance of the building, instead do a walk-through. Check the interiors and talk to the landlord to get all the necessary information about the rental scheme. Also discuss the tenure of the rental and clear out any other doubts that you have in your mind related to the property.
- Step 4: When you have finally made your choice, check the rental agreement. This is the only time when you can negotiate, so make full use of the situation. Make sure that when you negotiate, you discuss about the monthly rental, security deposit, availability of parking space and decide on a date when you can move in. If all the above parameters are within your reach and expectation, you can move a step ahead.
- Step 5: Always make sure that you read the lease before signing it. If you are not fully aware of any of the legal terms mentioned in the agreement, do not let it go. Take the agreement to your real estate lawyer, understand what exactly is written in the agreement and only then sign it.
If you move step by step in your search, chances are that you will make less mistakes and find exactly the kind of property that you have been looking for.