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Commercial office/shop - NIBM ROAD

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Commercial office/shop - NIBM ROAD

Last updated: September 3 2009
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  • Commercial office/shop - NIBM ROAD

    Hi;

    I'm planning on investing for long term in a commercial shop/office (bizz bay by kolte patil) on NIBM road near clover highlands.

    Is this a good idea? any suggestions? There are numerous housing projects under construction in that area and clover highlands is also constructing office space there.Looks like it has huge potential.

    I'm looking at a 400sq ft office/shop space . Pls let me know ur suggestions.
  • #2

    #2

    Re : Commercial office/shop - NIBM ROAD

    What was the rate quoted

    I also had a look at one of the shop on first floor in the inner portion 2 months back. But the rate quoted was 5.5K+ psf which made me flinch. Do you have any idea as to what is the rate now?

    Of course that area is buzzing up with growth. Senior members - realacres, aksenti - your thoughts on this please.

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    • #3

      #3

      Re : Commercial office/shop - NIBM ROAD

      the rate on the ground floor is approx 6000-6500 per sq ft? did u like the commercial building? ur thoughts?

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      • #4

        #4

        Re : Commercial office/shop - NIBM ROAD

        Originally posted by rvmurtaza View Post
        I also had a look at one of the shop on first floor in the inner portion 2 months back. But the rate quoted was 5.5K+ psf which made me flinch. Do you have any idea as to what is the rate now?

        Of course that area is buzzing up with growth. Senior members - realacres, aksenti - your thoughts on this please.
        Thanks for asking this question. Frankly, buying a shop is far different than house coz you buy commercial space to make money than to stay. The rates of commercial area are more than residential, hence if at all the area is to be leased out, one has to be more prudent. The time to break even or the returns in commercial area has to be faster, better than residential. In case the shop is to be used for self use, I can't comment easily as I don't know the business proposal.
        If you are happy, you are successful.

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        • #5

          #5

          Re : Commercial office/shop - NIBM ROAD

          Originally posted by realestate diva View Post
          Hi;

          I'm planning on investing for long term in a commercial shop/office (bizz bay by kolte patil) on NIBM road near clover highlands.

          Is this a good idea? any suggestions? There are numerous housing projects under construction in that area and clover highlands is also constructing office space there.Looks like it has huge potential.

          I'm looking at a 400sq ft office/shop space . Pls let me know ur suggestions.
          Like real acres i am not sure on commercial property. I would just advice you to ask yourself some basic questions before going in for this decision. Firstly, what else can you do with this money... I mean the actual value of a choice is always determined by comparing it to alternates. For example, i can buy a Levis Jeans for 3000. Now for the same 3000 i can buy 2 newport jeans. Is one levis better than 2 newport... Similary is it worth taking a 5 year commerical loan for this commerical plot..If you have the 15 L you want to invest.. the i dont think a shop is the best way to do it. There are many better ways to multiply your money which are much safer with lesser hassle. Like real says return on investment has to be much faster.

          Secondly, you also have to think about the kind of rent you can get and this will depend on type of shop you have. I mean who do you rent it out too.. have seen many small business fold and places remain vacent in last two years.. can you afford to keep to place vacant for long streches of time if need be..

          Thirdly, do you have to clout to get a ziddi and batamiz shopkeeper to move out. With house renting out is much more easier. You can rent to families or to girls or people you know... same cannot be said about shop.. some bugger will act clever and nice come in and refuse to go out..

          These are just my thoughts and not expert opinions.. Just what i would have thought while going in...

          BTW you did not mention rate .. that plays important part..

          Also, why did you think of commerical property.. is it hearsay, someones advice.. own idea.. etc

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