By Soniya Gaonkar on Oct 14, 2022 10:23:00 AM
Are you looking to invest in a commercial property in Pune? Well, that’s great! But merely investing wouldn’t help. Your property proves itself to be an asset only when you optimize the returns from it. Of course, it starts with how prudent your investment is. But beyond that, it also matters how you optimize your investments in commercial spaces in Pune. Here are three ways to do it.
How To Get the Most From Commercial Properties in Pune?
From the basics to devising strategies that always keep the space occupied, these three ways can help you make the most of your commercial space in Pune.
- Location, Amenities, and Surrounding Development
The way to a higher RoI starts with the right decision. Accordingly, to make the most from your commercial real estate investment in Pune, you must choose the right location that precisely offers potentially lucrative business opportunities for your prospective tenants.
For instance, if you are buying a space large enough for an IT firm, choose a location that offers excellent connectivity, is proximal to the city’s hotspots, and has surroundings that help maintain the business’s decorum.
Also, calculate the potential rent or lease income you may earn from the property and how early you will be able to recover your investment. You may buy the property if the propositions are worth and aligned with your investment goals
In addition, review the amenities offered. Modern entrepreneurs don’t merely look for offices but spaces that provide better working experiences. The availability of modern amenities can make a significant difference.
Besides, assess the current and future surrounding development, especially if your office space is favorable for B2C business. In locations where there are already many competitors or which lack the business potential, tenants would turn a blind eye. Thus, the property may remain vacant for a long time and prove to be a liability rather than an asset.
- Align The Space Per the Target Tenants’ Needs
It means looking for convertible or flexible spaces that allow you to do modifications per your prospective tenants’ needs. Rigid spaces may limit the scope, making it difficult to find a tenant. It may take time to find a tenant for whom your space is a perfect match.
Flexible spaces allow you the scope to make some changes to suit the tenant’s requirements. For instance, you can convert an empty room into a conference room or pantry. Accordingly, while choosing a space, check if it may allow you to make some modifications (not structural ones!) per the prospect’s needs.
- Market Your Property Extensively To Rent or Lease It
It is very obvious. Without renting or leasing out your property to someone, you can’t expect any monetary returns from it. But doing so isn’t as straightforward unless you have prospects lined up. The key is to leverage various marketing and advertising mediums. It includes social media, instant messaging, and talking about your property everywhere. The more you increase your property’s prominence, the more likely it is to get occupied.
Selling The Property at The Right Time!
Most investors refrain from selling commercial property. But that doesn’t mean you don’t consider it an option. It is like selling a business nurtured for a long time. If you get a buyer ready to offer you a price that earns profits higher than your cumulative lease or rental income for the next five to 10 years, you might want to sell the property and invest in another.
But the timing surely matters. It requires you to be attentive and responsive to market changes. Selling makes sense when the rental value of your property is continually plummeting. In situations like these, you may consider selling it if a buyer (for whom the property is the right fit) offers profits good enough to cover the losses the property might incur in the future.
However, there could be a difference between the present and the future. Of course, it could land you in a dicey situation. But if you consult experts and understand the market needle movements, you may make an informed decision.
Own a Commercial Property in Pune at Kohinoor World Towers (KWT)!
Kohinoor World Towers is an upcoming business hub in the heart of PCMC, near Pune. It is at an outstanding location that offers seamless local connectivity, intercity commuting convenience, ultra-modern amenities, lavish multi-sized office spaces, and enormous business potential. Thus, KWT is the right place for commercial property investments in Pune.
Call +91 20 6764 1818 to know more about ROI, business potential, and other aspects from the KWT’s investment perspective with the project’s sales team.