Millennium City Gurgaon in the recent time has become a leading financial and industrial hub with the third-highest per capita income in India. The city has 3,775 sq ft of modern retail space per 1,000 population.
It is relatively young, when compared to other cities like Delhi, Mumbai and Hyderabad and has most of the retail sector in the modern format with a striking 78 per cent being concentrated in malls. The Millennium City also leads in the modern retail space for households earning more than `300,000 per year, closely followed by Central Delhi, Noida and South Delhi. The concept of mixed-use spaces has contributed to the ample modern retail space in Gurgaon, and owing to the corporate character of the city, ground floor retail spaces in office buildings add to its modern retail footprint. Continue reading
Buying commercial real estate is not an easy task. It is a complex process and at times it becomes even difficult for experts, which also include the entrepreneurs or business executives, to make the correct decision on investing at the right place and maximize their investment value. Also, there is a risk involved in retail space for rent or sell, as sellers, buyers, renters, agents, all can suffer the consequences of a rise or fall in demand. Luckily, the real estate in Gurgaon, brings to you various commercial retail space options in various parts of the city, which have substantial potential rewards for the buyers as well as the sellers.
Let us look at the major factors that must be considered before purchasing retail spaces in the millennium city.
Location: Like residential property, location remains at the No. 1 position for commercial properties as well. Location is always a crucial factor for retail spaces for sale. It must be easily accessible. Continue reading
When one decides to rent a property, he/she might face many situations when there is a disagreement between the landlord and the tenant. These difficult situations need to be sorted with patience, so that there is harmony between the landlord and the tenant. By paying attention to some minute details, you can prevent the conflict from happening.
Let us have a look at some common reasons for disagreement between the two.
- There is a difference of opinion between the tenant and the landlord regarding the terms of rent and lease
- The terms of a new lease stated by the landlord are not according to the wishes of the tenant
- If the tenant does not pay the rent on time
- The retail space for rent is not maintained by the tenant as per the expectations of the landlord
- If the tenant violates the rules of the present lease terms and is unable to take the corrective measures
- If the present lease is not being renewed by the landlord
- When the tenant uses more space than that has been allotted to him/her by the landlord
The real estate in Gurgaon, India is developing at an extremely rapid pace and it is the dream of every individual to either reside or work in the city. Various notable companies are establishing their base in the millennium city. Also, the businessmen who are willing to kick-start their enterprises, opt for retail properties for lease in the city. People looking for office spaces can opt for the office spaces in sector 83 Gurgaon. However, only choosing an office space is not enough. One must be ready to deal with the difficulties in commercial and retail properties. Here are some tips that can help you come out of those difficult times.
- Understand what the landlord wants from you: A tenant must understand what the landlord expects from him/her. Either make a note of the instructions stated by the landlord or ask your landlord to give a written copy or e-mail his/her instructions. This will give you a clear idea of what you should do and what not, hence, there will be less chances of disagreement between you and your landlord.
- Keep a copy of the lease: The clauses of the lease must be well-understood by the tenant. You might not remember all the clauses of the lease that you would have discussed with your landlord, thus it is a wise decision to keep a copy of all the clauses of the lease.
- Meet face to face: In case of any disagreement between the tenant and the landlord, it is best to discuss the matter face to face instead of discussing it over the phone. Talking over the phone might create more confusion.
When things are not falling in place between a tenant and a landlord, the best thing to do is act in a wise manner and mutually come to a conclusion.
If you are a retailer who is willing to expand his/her business, there cannot be a better option than choosing a retail property for lease. However, investing in a property is always a risky decision, and one must ensure that he/she is extremely careful in the process. Also, you must ensure that you are not fooled by anyone who is giving you the retail space for rent. Here are a few tips that can help you in negotiating a retail commercial property.
Gurgaon has sprawled as one of the biggest shopping destinations in India. With major international labels showcasing their products in some of the biggest malls in India, Gurgaon is THE city to be a shopaholic. One of the latest additions to the shopping address is Vatika’s Town Square, situated in Vatika India Next township, located in sector-82 near NH-8, Gurgaon. Continue reading
Vatika India Next (INXT), one of the latest residential ventures by Vatika Group is being developed at one of the most exclusive location in Gurgaon. The project is being developed in an area that spreads across 5 sectors adjacent to NH-8 expressway in Gurgaon. The township spreads in a lavish 700* acres of meticulously planned self sufficient mini city. It is one of the biggest residential venture by Vatika Ltd, and is currently ‘the’ investment destination for commercial and residential real estate. Continue reading