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The commercial real estate in India has always been attracting investors from all over the world. However, before making investments, it is also important to know the terms and conditions of the real estate market for beneficial returns.
The main factor behind the rapid growth of the real estate in India has been the IT and ITES industry here. It is expected that industries would employ more than four million people that will thus increase India’s GDP and foreign currency considerably in the future. One of the other factors, which stimulate
the real estate and infrastructure development in real estate of India is the language spoken, which is English that helps NRI and other foreigner investors to arrive India and invest their money.
According to recent survey, only one quarter of India’s population lives in urban areas. The government is promoting smaller cities as well as a new a faster rate and therefore provides a safe haven for investment in commercial real estate (particularly Delhi & NCR) buyers worldwide.
The term “commercial property” means that the lessee has a right to obtain a renewal at the end of the lease, or failing that, the payment of compensation for eviction. Indeed, stability is essential for a business, the customer generally constitutes the main element of the business. There is need for the investors to know all about the minute things of the real estate market, such as:
1. The tenant is entitled to renew the term of the lease. For this, he must:
- Hold a lease subject to the status of commercial leases.
- Be registered in the commercial register as well as the register of companies or businesses.
- Effectively exploit the business at the time of application and in the past 3 years.
- Respect and follow the terms of the lease.
2. Compensation is equal to the damage caused to the tenant, which includes:
- The market value of goodwill, determined in accordance with industry practice.
- The reasonable costs of removal and re installation of the fund.
- Costs and transfer taxes to pay for a fund of equal value. The lessor may, however, establish that the prejudice to the tenant is a lower amount.
3. Good to know: The lessor is not liable to pay compensation for eviction if it is established that:
- The building is unsafe and must be totally or partially demolished.
- The building can be occupied without danger because of his condition.
To acquire possession of the real estate, one can take advice of the commercial realtors, who are the experts that cover all aspects to meet their needs for commercial property, including:
- Knowledge and access to any building and any space.
- Updated information on the sub-locations and opportunities currently below their market value.
- Exceptional negotiating power with agents and building owners, based on the volume of tenants represented and the working relationships with building owners.
These commercial realtors can easily meet the business needs of their clients, their personal preferences and meet their long-term goals for investing in commercial real estate. These realtors are experts in the art of negotiation and they get their clients with the best possible lease terms, including rental fees, the terms of the lease, rent free, construction allowances, the groundwork of the landlord, security deposits, taxes, and operating costs.
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