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Commercial space in Zirakpur

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Commercial space in Zirakpur

Last updated: May 11 2017
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  • Commercial space in Zirakpur

    Hi,

    I am from Chandigarh and I am looking for a office space and my search took me to zirakpur where I came to know about several projects which are offering office spaces like: Sushma, Motiaz Workscape, Chandigarh Citi Center, GBP Centrum, Maya's Magnesia etc. I checked all of them and came to a conclusion that I can get 400-500 sq. ft. office space in any of the project ranging from 18 Lacs to 27 Lacs.

    Chandigarh Citi Center people are very aggressive now a days with marketing etc, they are calling me non-stop and giving me unbelievable deals, Sushma also says they can somewhat match the price but they are giving office space on 7th floor where as on Chandiagrh Citi Center I am getting office space on 3rd floor. I am now very confused as to what to do?

    My question with experts is how is Chandiagrh Citi Center incase I go with them ? I am not an investor and I want to buy an office space for myself in which i'll be doing my small IT related business and I'll be putting my hard earned money into this space, i'll be taking a loan on this also. Though I don't care about the footfall as only my clients will come and not someone roaming in the mall etc.

    Is it beneficial to go with Chandigarh Citi Center ?? Incase I have to sell the office space in distance future will it be good ?? I don't want to buy an office space in a building that will stay empty like other malls in Chandigarh, coz though footfall does'nt matters, crowd creates livelyness.

    Please help me to clarify as to which is going to be a good project both investment wise and other things.

    Thanks.
  • #2

    #2

    Re : Commercial space in Zirakpur

    I am in the same boat, I have an IT team of 10 and looking to buy my own office space. Chandigarh Citi Center is a big no for me, there will be parking problem there in near future and I have my doubts about the quality of the building as well as the carpet area which will get delivered.

    Sushma is good in terms of construction but the only concern is that I don't see it being occupied and maintenance will be an issue. All the projects which you have mentioned looks to be running quite delayed which is a big cause of concern. Instead I am negotiating with Global Business Park for office space and even looking to buy an independent floor in SCO on highway along silver city.

    But before making an investment I intend to take up an office space on rent to see if its even worthwhile investing in Zirakpur.

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    • #3

      #3

      Re : Commercial space in Zirakpur

      Hi,

      I would like to give my views to the above discussions, after working in real estate market within Tricity and NCR and the reputed builders named above. I see the concern of every investor or the end user whether it would be an appropriate step or not and for that we have to study the market of the area around according to our work which we want to set up in the area.

      And if you want I can help you out in finding you the suitable investment option.

      Regards,
      Sumit
      Last edited November 21 2016, 12:03 PM. Reason: Do not post personal information, such as full names, email addresses, numbers, or home/business name/addresses on the forum.

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      • #4

        #4

        Re : Commercial space in Zirakpur

        Sumit Gulya This is an open forum and not a marketing tool, please share your findings for the benefit of all the members.

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        • #5

          #5

          Re : Commercial space in Zirakpur

          I am also in same boat as well

          At the moment I am not very confident about buying my own space. There is lot of uncertainty in IT sector at the moment. Need to wait and watch till Apr 2018 to see in which direction these uncertainties will swing. If your business dynamics are sound and if you see substantial business coming in next few years then you may take call on buying.

          Instead, I believe it's best to park the money you have in some debt assets and earn some profit/interest from it. Use that profit to pay for the rented office space. For me this route worked out best.

          There is no point in locking up the money if malls and office spaces remains unoccupied. Seeing the building depreciation and vacant buildings it would be hard to resell the office space. Even if the occupancy is 50% the maintenance fees will either run high or sub-standard maintenance will be provided. TriCity maket is slow and moving at snail's speed. Can be very disappointing and depressing at times. Let's hope for the best.

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