Commercial Real Estate gains momentum moving towards tier-II cities like Mohali

The then smaller cities of India were turning into an attractive business prospect due to various factors like prime location, accessibility, improved infrastructure increased connectivity within the suburbs, and most importantly the skilled manpower who were seeking jobs. The Indian real estate had picked momentum up until the year 2019 when covid 19 hits, disrupting the entire world’s balance.

The scenario had changed completely after the covid 19 onslaughts. Bigger cities had witnessed considerable growth pre-covid. Due to high property prices and saturation along with subdued demand led investors were moving towards tier-II cities. The fast-growing infrastructure made it possible for the market to attract industries to settle here. Moreover, with the existing government schemes like GMADA, Smart Cities, and AMRUT the cities have been growing in demand. There has been a rising demand for these cities even before the covid 19 outbreak with people moving in from the metro city to the non-metro ones in search of opportunities.   This demand will likely continue since people are returning back, trying to love close to their near loved ones at the same time looking for a window of opportunity. Even the NRIs and HNIs will most likely seek to invest in the commercial realty sector after things normalize.

The commercial real estate sector can thus expect higher rates of deliveries with a higher degree of optimism and professionalism as the unsold inventories are being booked by asset management firms and after the increase in surplus demand of residential properties.  One of the prime reasons for this is the lowered rates of interest which will be the driving force making the commercial real estate sector an enticing prospect.

There are many reports which presented figures of rising real estate investments in tier II cities over 20% before the outbreak. This substantially shows the gain in momentum of demand for the tier-II cities. Additionally with the continuous infrastructural developments in the past have boosted the real estate demand in cities like Mohali. The new commercial projects in Mohali can turn out to be lucrative assets. The upcomingCommercial projects in Mohali will have new requirements following the needs of buyers in health and safety. VRS group is one of the most prominent Real Estate companies in Chandigarh that has also developed several Residential Flats in Chandigarh and Mohali.

A report of the real estate market states that nearly 12 percent of people in Delhi-NCR would invest in nearby cities like Jaipur, Mohali, and Chandigarh. The real estate in Mohali is all set to witness a new wave of efficiency with higher deliveries and possession.   The increasing demand for residential projects in Mohali will surely boost sales for the commercial sector.

Why should you invest in commercial property in Mohali? Reasons why it is safe to invest in real estate, Mohali

Higher returns on investment and growth probability- If you are seeking to invest a good handsome amount of capital in a property near Chandigarh like Mohali then you must ensure that it makes good positive returns on investment. Even though Mohali is a promising destination for investment, you cannot hope to gamble with such a big sum and end up making a bad investment. The cost of some properties appreciate and some do not, this is due to the location, the utilities it offers its design, and appeal to name some of the factors.  So one must, however, conduct thorough research before investing. The investor should also take into consideration the lessee, the rental prospects of the given property. This ensures the best and stable way of recovering your investment from a commercial property.

 

Source of steady income- Investing in commercial property at a just location offers you better appreciation in the long term. Also, you can get good steady rental returns. If you have put your money in the commercial property primarily for investment purposes then choosing the right location and deciding on the types of spaces in demand will make the most significant difference. A good investment with locational benefits can help you make the cost of investment in just half time than the time needed to raise that sum with rental returns. 

 

Better liquidity- Liquidity directly depends on the location of the property. This is solely due to the high demand for the property in that given area with good conveyance and vicinity to amenities.

 

A wide range of options to choose from- With high competition in the market, you get a wide range of choices in design and location.

 

You can find many investment-worthy commercial properties in Mohali. District One by VRS group can be the right choice for you and offers great social amenities that can take your business to new heights. VRS is a RERA certified realty developer who has laid many flats in Mohali as well as many residential flats in Chandigarh.  

Mistakes to avoid while buying residential projects in Mohali

So, you have worked hard for years and years now to be able to purchase your dream home in Mohali or are looking for flats in Chandigarh. But you design and end up living with desolation in your home as it did not turn out as you expected it to be. If you are in this state, disarrayed with a year of ending up like this then this blog is to ameliorate your far. There are just a few aspects that you should never miss your notice. Luckily, one might as well get just the right location for living considering the relative closeness to the office or workplace, ease of availability of transportation in that area, amenities such as food palaces, educational institutions, medical care centers, and others keeping in mind your as well as your family’s needs in hope of having an idea, perfect home. But most of the times, in pursuit of perfection and sheer excitement of getting the keys of your dream home in your hands can make you commit quite a number of such an irreparable mistakes which you might regret later.

So, we present before you some of the most common blunders that you can and should avoid to experience a blissful, happy life.

·      Miscalculation of the finances

               If you are looking for residential projects in Mohali and have planned to take a home loan then making a fair assumption or calculation of the monthly income would be the smartest choice for a well-prepared buyer. This marks the most vital step in purchasing a residential apartment.  Often interested buyers commit the mistake of purchasing such a place which makes them burdened with a lifetime of heavy monthly EMIs, adding an extra dent in the pocket with the additional costs of insurance and taxes. One can easily avoid this by getting a clear idea of what one wants with careful planning and calculation. Check if what you are seeking to invest in is even worth the price point or if that is what you are looking for. Avoid being in this situation by carefully planning a budget, fixing it, and then sticking to it.   

·      Overlooking documentation of all sorts viz paperwork, legal verification of land paper, approvals, and so on

              Authenticity and documentation are also undeniably one of the most chief factors that come to play while purchasing a property. If this is overlooked one might end up losing everything, both their hard-earned money and the property itself. So needless to say, make sure to check if the documents of the property are even legal, authentic, and up to date. If you are opting for a home loan the bank itself upon approval from the bank, the bank checks all the parameters, documents, certificates. It is even better if the approval is from a nation Nationalized Bank. You might as well consider handing it over to your legal consultant for a thorough verification check just to be sure and to be on the safe side.

·      Lack of research about the realty developer and the background of the builder i.e. Builder’s Reputation

               In this modern era of tech and advancement, even though you can do a quick “Google Search” about the company, inside out finding its whereabouts, it is always advisable to do an in-person field check.  As we have all heard seeing is believing, see for yourself by visiting the area of the development to get an idea if you are really paying for what you truly desire. Talk to the residents who have purchased the older projects, asking about the whereabouts of the projects is always a good idea. It would not hurt doing some field research, after all, it is the matter of your dream home, make no mistakes. It is always natural and safe to purchase from a reputed, skillful builder with experience and a good track record of previous projects. You must also preferably buy properties from RERA Certified companies. As per the RERA (Real Estate Regulatory Authority) Certification, a builder is expected to register the project under the board. This ensures customers protection against fraud throughout the period of development of the project. So, a company certified under RERA leads to the formulation of a system wherein project delays, costs, quality, and other such related aspects are dealt with transparency.  Also, be sure to check whether the developer is over-leveraged or not. Builders who are financially strong and able to ensure timely completion of the project within the given time frame. For other details about the company, you should directly contact the concerned office for more transparency and other details.

·      Ignoring and overlooking other norms of RERA

              RERA binds all the commercial and residential real estate projects with land over 500 square meters or projects with eight apartments to register with the Real Estate Regulatory Authority for even launching that project. The agent or the builder’s registration is mandatory as well which ensures that there be no unfair trade means, aiding you in identifying frauds.  As mentioned earlier there are many benefits of RERA Certified projects. Suppose if you are looking or are prospecting to invest in an upcoming project in Mohali and if the promoter fails to produce the possession on time then that company is liable to pay you the entire amount back if you wish to leave and cut the deal of agreement. If you wish to stay then the builder has to pay you interest for every month of delay till the possession is fully furnished and produced to you. 

·      Blindly relying on the Promoter/ Real estate agent/ Broker

While prospecting for a RERA Certified project does save you from some risks, for things to work completely for your advantage NEVER blindly trust the agent. Rather do your own research. It is likely and obvious that the agent is direly seeking cessation of the deal, being persuasive, confounding you with the glittering facilities and perks.  Most often the broker can themselves be an agent of the company who is developing the plot, looking for ways to close the deal.

So, while taking the suggestion/ advice of the real estate broker does not be completely dependent or be lured away by what they are selling.

·      Dearth of research and study about the market itself

The real estate market’s dynamics keep on varying.  Before investing all of your hard-earned money over the years onto a property that you have been eyeing for so long now, see if it is even the right time for making the investment or not. Research not only about the dynamics but also about the various aspects of the project from previous ownership, type to the background of the developer. 

Thorough research about these aspects of our dream home would surely turn out to be worth the effort. 

·      Overlooking associated hidden costs

Check if the given price lost by the builder marks the additional hidden costs which might be levied while handing over the apartment. It is probable that the builder will throw in some extra charges where you might be running on a fixed tight budget. The extra charges can be imposed on the given things:

» Plumbing Cost

» Wiring Cost

» Maintenance Fees

» Transformer

» Funds for Association

»Property Tax

»Club House Charges

»Water and Electricity utility supply charges

»Other legal charges

 

A prospective buyer will always diligently study all the factors before making an investment. But the real estate market is prone to risks and people make mistakes. It is also certain that these mistakes will cost you a lot of money. However, these mistakes can be avoided by keeping in mind the above-explained aspects to avoid a bad investment and to embrace a luxurious life in your dream home.

If you are looking for real estate projects in Mohali integrated with a dynamic lifestyle but are still confused then the projects from the VRS Group are the best for you. Every project crafted so far has been made keeping in mind the needs and aspirations of the customers ensuring utmost satisfaction, bringing dream homes into reality since its inception. VRS is a trusted RERA Certified company that has brought many dreams into reality giving their customers the dream home they wished for. VRS is also one of the leading real estate companies in Chandigarh with years of expertise in the real estate market.

 For more details about your dream home visit vrsventures.com.

Why is it a good prospect to invest in commercial property in Mohali ?

 

Bordered by the state of Punjab, Chandigarh is internationally renowned for its urban design and construction. It is also a city with one of the highest per capita income in the country. Chandigarh is also the cleanest city in the whole country. And thus this makes it one of the wealthiest towns of India. Chandigarh attained 4^th position in the top 50 cities list globally, thereby being identified as emerging outsourcing and IT services destination even ahead of cities such as Beijing. Such perks make this city one of the most desirable city. There is no wonder in the fact that people have been prompting to invest in residential flats in Chandigarh.

It is because of the growing influence of Chandigarh that the adjacent cities have been transformed into emerging cities with surging growth providing a sea of opportunities. So if you are looking for property near Chandigarh, then VRS Group’s project in Mohali can be just the just prospect for your investment.

Mohali, officially recognized as SAS Nagar is one such city that has emerged as one of the hottest selling cities with high demand in the country. It is a planned city, a commercial hub lying southwest of Chandigarh. It has not only emerged as one of the most important cities of Punjab but also in the rest of northern India. It is also due to the proactive governmental framework and initiative that it has rapidly developed as the IT hub of the state. Special care has been taken by the government to ensure that it becomes the ideal place for residing in Punjab. Taking these points into consideration it is not hard to see why people consider it to be high on the index of the most preferred location to invest in commercial property in Mohali.

Taking these points into consideration it is not hard to see why investing in commercial property in Mohali is high on the index of being the most preferred location for ventures.

There are plenty of reasons as to why investment here, in the commercial spaces reap strong benefits in the long term.

Connectivity: Mohali and Chandigarh are contiguous, with only a single boundary dividing this area between Punjab and Chandigarh. Mohali is very well inter-connected and boasts about great conveyance making sure of easy access to the key locations. The first 11 sectors, part of the sector system of Mohali known as Phases houses bus stand and other important establishments. Some phases of Chandigarh overlaps being shared between Mohali, SAS Nagar, and Chandigarh like sector 48, 51, 52, 54, and 56. This directly implies that not only is the city well connected internally but also with the other cities which do show that it is ideal for great conveyance. A wide range of transportation facilities, roads, and highways keeps the city together and connected. There is the main bus stand located right at the heart of the city, at Sector 56. Here, many private buses operate and provide services within different cities of the state. The CTU which is the Chandigarh Transport Undertaking provides connectivity with the rest of the Tricity. For short distances, auto-rickshaws run throughout the city. The city is also well connected by rail to several other important locations such as Ludhiana, Amritsar, and the capital of the country, Delhi. There is also the Chandigarh International airport, which is b located near Aerocity, Mohali. Not to forget the proposed concept Metro under the Chandigarh Metro Rail Project. These perks make SAS Nagar a more practical investment. With convenient modes of transport, connectivity with other cities, and most importantly the odds of developments can prove a timely investment in Mohali to be a great prospect for commercial and residential ventures.

Surplus the demand of residential developments in high living quotient: Mohali has a flourishing residential sector which in turn has boosted the growth of the town’s commercial venture. There are many complexes and flats in Mohali with impressive infrastructural setup. VRS Group is one of the developers who has successfully brought the dreams of many people into reality by providing them with their dream homes. A huge population abounds here in Mohali, which is sure to boost the ventures with great profit.

Job Prospects: Mohali has been targeted by many outsourcing IT firms who seek to capitalize on the opportunities this city has to offer. Its reputation as a home to large companies, MNCs are growing. Big names from the global tech giants like Quark, Philips to Telecom service providers such as TATA, Vodafone, and so on have established their office here. This can boost both residential as well as commercial state sectors providing them with a chance to stimulate the commercial ventures to new heights.

Places of interest: Not only is Mohali well connected but it also houses various places of interest which attracts a large number of visitors not only from within the city but also from other parts of the country. Mohali abounds in religious places, parks, and gardens. This city has everything from top colleges to universities, pharmaceutical center, and multi-facility hospitals to big pharmacy stores. There is nothing this city lacks in terms of amenities.

 So, we hope this blog gave you an insight into the probable future prospects this city holds. Do not miss an opportunity to invest in commercial ventures in Mohali. If you are looking for reliable commercial projects with impeccable design and quality you can trust the VRS group. We will safely transform your dream into reality so that it helps you in making a balanced investment that brings high profit and the most out of your business.