What things to keep in mind while buying commercial shop in mall? I want to buy with budget 50 Lakhs.

These days, it is seen that the ROI from commercial spaces are much higher than that of residential spaces. Speaking about buying a commercial shop in a mall, it can be a good decision if you consider these points: 

It is very important to decide on which floor your shop would be. Ideally, people prefer buying a shop on the entrance level or the one above it. This is done because most of the visitors get tired after a while and won’t visit your shop if it’s on higher floors. The shops on the lower floors may cost slightly higher. 

Next comes the location. It is recommended to buy a space near the mall entrance, next to the elevator or at the exit of the mall. Do not choose a space which is hidden or which cannot be visible normally. 

Speaking about the agreement, you should know what all facilities are included, what charges you would be applied for and so on. Do not forget to check, clauses like Common Area Maintenance, OC, CC, Fire NOC and all terms and conditions.

Facilities

It is very important to physically check the property once. This will make sure that the mentioned facilities are provided and there won’t be any problem to your customers. Also check if these facilities match the requirement of your business if you plan to run your own business. 

Maintenance 

Maintenance is an important aspect when it comes to maintaining the hygiene and cleanliness of the mall. There are specific maintenance charges that you will have to pay. Check how much it is usually and if you are allowed to use all the facilities and amenities that these charges are applied for.

Now coming to buying a shop for 50L you try finding a nice commercial space on NoBroker

 as there won’t be any broker or middleman. The owners usually upload the photos of the properties so that you can shortlist the properties without physically going and checking it.