By Soniya Gaonkar on Mar 4, 2022 3:54:00 PM
In Pune, commercial real estate is on a continual rise. You travel anywhere across the city; you’ll witness the construction of commercial properties almost everywhere around you. While some are reasonably priced, some have moderate price tags. On the other hand, a few elite ones carry an exorbitant price.
Now, when every commercial property has the same use as others, why do you think some properties are expensive, while some are way cheaper than the others? We know the most obvious answer most of you must have already thought of – location. But that’s only one. In addition to it, we’ll look at four other factors that decide the price of commercial properties for sale in Pune.
5 Factors that Decide the Price of Commercial Spaces in Pune
- Location of the Commercial Property in Pune
Location is the most significant of all aspects when it comes to deciding the price of commercial properties in Pune and for that matter, everywhere else in the world. The importance of location is directly proportional to the price of the property. The more prominent the location, the higher the selling price and rent.
Hence, projects around the financial district of the city, or other prime locations central to and convenient for business, are valued higher than the rest. Of course, it calls for a considerable investment. But it is worth considering the tangible and intangible returns in the long run.
- Size of the Commercial Spaces
This is another crucial factor that determines the price of commercial spaces in Pune. Of course, the larger ones, due to their larger surface and usable area, are more expensive than their smaller counterparts. However, lately, concepts such as smart spaces and integrated spaces, too, have made their way into commercial real estate. They have become critical to the price of a particular space given the value they offer.
- Amenities Offered by the Developer
For a 21st century entrepreneur, amenities matter as much as the location and the size of the commercial space. While many commercial complexes offer fundamental amenities, some invest to offer ultra-modern amenities to make the property more appealing for high-end investors like multinational companies.
Some of the valued amenities include ample parking space and advanced parking systems, Wi-Fi connectivity, high-tech fitness centers, dining spaces within the premises, pleasant outdoor spaces, advanced security measures, lounges, and many others. The more the amenities, the higher the cost of the commercial space.
- Connectivity of the Location
Connectivity plays an instrumental role in determining the price of commercial offices in Pune. Renting or buying an office space at a well-connected location can incur a substantial cost. Such locations are usually well-connected through arterial highways, intra-city roads, metro, and city buses. They offer quicker and more seamless access to the central railway station and airport.
Of course, each of these factors has its unique value. The tenants or office owners pay for each while buying or renting a space at a central and accessible location.
- Future Value of the Commercial Space
This is another significant factor in this list. Often, commercial space is valued high on account of the growth and development that the vicinity is slated to witness in the future (perhaps, in the next five to ten years). Offices in areas included in the urban development plan of the city have a higher cost tagged to them than others that are in the outskirts, or wherein urban or commercial development is about to be minimal.
Again, that demands a certain amount of extra investment. However, if you look at the bigger picture, you’ll realize you are making a worthwhile choice, especially if you are buying the space.
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Kohinoor World Towers, popularly termed KWT, is an upcoming business landmark on the horizon of Pune and Pimpri Chinchwad. The commercial hub is located between Pimpri and Chinchwad on the Old Mumbai Pune highway. The site has an almost ready metro station near it and can be reached conveniently through other private and public transport options. Additionally, KWT offers ultra-modern amenities and multi-sized modern office spaces. Tower 3 is already sold out. Tower 2 is on its way to be declared a full-house!
So, buy or rent a commercial space in Pune with KWT and enjoy potential benefits in the long run. To know more, call +91-020-6764 1818.