The commercial real estate market in India is on a growth trajectory. Those who were previously averse about real estate have also started showing interest in commercial realty. However, since the market has lately picked up pace, the knowledge and awareness about commercial real estate is lesser as compared to residential real estate.
So, if you also wish to invest in a commercial property, you must first understand the types of commercial real estate in India and their characteristics. Here, we will also give you one recommended property located in Delhi/NCR for each category.
As the name suggests, offices spaces are designed for the functioning of a corporate workplace. Offices can either be a part of mixed-use project or a standalone tower. In cities like Gurgaon and Bengaluru, you can find office spaces in skyscrapers and high-rise buildings. These commercial spaces are likely to have facilities that support offices such as elevators, service lifts, business centers, cafeteria, conference rooms, CCTV surveillance, 24×7 security services, etc.
The shops that you see everyday on your way or the shops in malls or other commercial complexes are categorized as retail spaces. If you wish to buy a retail property, location plays the most important role followed by the location of your space in the floor plan because visibility of the shop is also imperative. Just like office spaces, retail spaces can also be a part of a mixed use creation. They are also supported by a whole range of amenities such as double-heighted lobby, escalators, service lifts, parking space, etc. You can invest in retail spaces in mall projects as well.
Omaxe Chandni Chowk- This project has recently been garnering a lot of investor attention because of the wonderful location and the initiative by a renowned builder Omaxe. It consists of retail shops and food court that offer the old charm of Chandni Chowk without compromising on the modernity. The services at this mall are planned to be operational 24X7 and completion is expected in 2021. Enjoying a central location in Delhi, the returns from this investment are going to reach the sky.
Plots designed specifically for commercial development are also quite popular in the Indian real estate market. One such concept is that of the Shop-cum-Office (SCO) Plots. Much like other commercial investments, location plays the main role here as well.
M3M SCO Plots– M3M India has launched SCO Plots in Sector 113 and Sector 84, Gurgaon. Both of these locations are the new commercial growth centers of Gurgaon. These projects will offer spaces for offices and shops. Since these are only plots and not a commercial building development, M3M will only offer customizable shop modules to the investors.
Office spaces, retail spaces and plots are the three most common types of commercial real estate that you would find in India. Apart from these, there are serviced apartments, hotels, resorts and warehouses that count as commercial projects but the market for such categories is still in the initial stages.