This property?s payment terms seem a good choice since their payment plan is long-term. The only concern at times with such commercial projects where developer is selling is, later on payments may not actualise and your principal amount can become stuck. However, this kind of long-term payment plan seems a good investment looking at your current investment limit. This gives enough time for the property to fully develop and surrounding areas to flourish so selling it off at a later date should provide you with healthy appreciation.
- We have commercial property for sale in Dabagardens, Visakhapatnam. Could you please advice on the prevailing land price?
Prevailing land prices for commercial land in Dabagardens are between 40,000 ? 50,000 per sq yrds.
What are prevailing rates for commercial land in Begumpet? ?The plot area is 8000 sq.yds. How much FSI is allowed?
The commercial land rate is in the range of 70,000 ? 80,000 per sq yard. For a 8000 sq yrd plot in Begumpet, the FSI is 2.5 and can go upto 3.
- We are planning to buy commercial floor in one building and want to buy the another floor also in same building but the problem is that the later floor is the residential one, can i convert the same to commercial?
If municipal rules allow for such conversion, then it can be done by paying the appropriate conversion charges. At times, ground floors are usually commercial/shops in nature, while the upper floors are residential and based on prevailing usage rules, the same can have only limited use as commercial premises. Suggest you find your local regulations on the subject.
- What would be the approx rent for a 2200 sq ft flat in Sadar, Nagpur to be given on lease to a commercial organisation or for residential purpose?
Depending on the age of the building and its condition, the monthly rent in Sadar is in the range of 15,000 ? 25,000 sq ft. Also, please check if your society allows leasing to commercial organisations.
Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India
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