5 things to consider when choosing office space in Mohali (Chandigarh)

In these ambitious times, we thrive by adding values to our beings with the sole aim to keep going up the ladder. In doing so, the work has become our only passion and the office has become our second home, hence in the process of achieving success, one of the important value additions we can do to prosper is by choosing the right office space wisely. The significance of choosing the right office space gives a lot of perspective about the business to both, the clients and the employees. It allows people to think about what you do, how you do and how seriously the venture is being driven by their owner(s).

The 5 factors that make your decision while choosing an office space can be:

1. Location
2. Promoters
3. Architecture
4. Pricing
5. Vision

Location: Business is all about people that is why it is important to talk about Location first especially when choosing an office space in Mohali (Chandigarh). This is considered to be the game changing decision while buying a workspace as it tells a lot about the brand image of your business. Numerous vital components like surroundings, connectivity, safety and proximity from important institutes and buildings defines the logic of Location. The more central it is, better the scope is of being called as a prime area of the city or it could be a part of an institutional hub/corporate park which might be located on the outskirts and in both cases it helps to create an impression of your brand with added advantages of seamless connectivity and safe environment. Buyers and sellers always emphasize on location as it is widely known to be the proven ingredient of a successful business.

Promoters:  Second most important factor is the brand you want to get associated with; a buyer’s homework includes filtering the best promoter/builder. There are many developers that design and deliver office spaces in Mohali (Chandigarh), offering attractive deals but a smart buyer always know to look at things above and beyond which includes the quality of promoter’s past projects and adherence to timelines. If the builder is into developing mix-use property, the chances of having an impressive track-record are higher. A promoter or developer’s image depends on just two things – delivering the projects on time and the construction quality of the same. Bigger the promoter, better are the chances of coming up to buyer’s expectations as they also have to maintain their goodwill and unlike small developers they don’t have difficulty in attaining required licenses and permissions which are the main reasons of the delay.

Architecture: Both attract both - whether it is the architecture of office space or the building in which you want to inhabit the office space, attracts both the clients and the employees. From personnel viewpoint, an aesthetically designed office space offers warm ambiance and a soothing experience that works as a stress-buster while dealing with the professional challenges throughout the day. Icing on the cake would be the scope to customize the office space as per the brand of the business that resonates with the working culture as well. Having offered the flexibility of expanding the office as the business grows with time also is the architecture’s brilliance.

Pricing:  Now let’s talk about where the world revolves around. Having said all that above, money is still the only factor that can make or break the deal. Affordability will remain the prime factor for a buyer who also has to consider the amount of workforce he will be bringing in. Pricing is done by the developer by keeping mainly the things that we have talked above plus the size of office space in offering, maintenance costs if any, furnished or non-furnished. The kind facilities are being offered by the promoters along with how modernized and technically efficient the infrastructure they are providing constitutes the final cost. Usually the brands like Homeland Group and Unity Group are people’s choice as they have track record of delivering authenticity and value for money projects in Mohali (Chandigarh) and Delhi NCR.

Vision:  We all know that an office can do wonders for the brand image of a venture. A buyer who is looking to buy office space should also capitalize on this factor, as the office address has the power to become the signature of a business. If a business that is already growing, would always like to keep its brand value intact, hence would never compromise the importance of an office address. The entrepreneurs always look at the bigger picture while making investments, the returns on the same will always be the area of interest which is why anything that could add the value to their brand eventually giving more appreciation in the investments made, will incentivize them.

CP67, the Mohali’s (Chandigarh) largest shopping centre and mixed-use real estate project located on the International Airport road, would suffice all such buyer’s needs and allows them to be economical at the same time. We invite you to come see yourself the majestic masterpiece we have created for Mohali (Chandigarh), a perfect concoction of style and professionalism.

7 Clever Ways To Invest In Tricity Real Estate Without Buying Any Property

You can be clever and you can be careful and at the same time you can earn more profit than you ever imagined by investing in real estate at this very moment. Despite the slump that the real estate sector across the country has been witnessing for quite some time now, some regions have continued to display gradual yet promising growth. But if you are not convinced and want to tread a more secure and prudent path, there are 7 clever ways listed below to invest in real estate in the Tricity region but without having to buy any property and yet making a profit from it:

Buy And Fix Up

This is a very hands-on move and a very intelligent way to invest in property without actually having to own one in the Tri City area. You just simply buy the property and put your funds into repairing and fixing it. When you are done, you put up the property for sale and just watch as it fetches you a profitable amount owing to the fixes that you performed.

Buy Rental Property

If you have the funds to buy a rental property you can do that and then rent out a room or apartment in that real estate to tenants. The key here is to keep your expenses low so that you can keep your rent as affordable as possible so that you get maximum prospective tenants. You could also purchase the property for your own residence and then rent out some of the rooms or spaces to tenants. This way you can keep the property in great condition and hire someone skilled and experienced for the on-and-off repairs that you might need.

Think About Investing In A Vacation Property

This concept is relatively new in our country but it is gradually catching on with a lot of individuals. A vacation property is something that you rent out to tenants for a short period of time. You can cater to travelers or visitors to your city who are in need of high quality real estate for the purpose of weddings or other family occasions that they might need to attend in and around the Tri City region. Nowadays there is a rising trend of keeping large Marla houses for the same purpose and the main clientele comprises NRIs who are in a position to pay a hefty amount for these properties whenever they visit.

Purchase Of Commercial Property

This seems to be a very popular trend in the Tri City area comprising Zirakpur, Mohali, Kharad and several other regions. Commercial properties comprising retail buildings and office complexes are readily available in this area for purchase and also for the purpose of renting out further. Right now the costs of these properties are very low due to the development phase and these are without a doubt a very low risk and high reward option for anyone who wants to invest in this region.

Real Estate Mutual Funds

Real estate mutual funds are investments that are pooled together and overseen by an investment manager. These allow investors to diversify their portfolios by including characteristics of both mutual funds and really state at the same time. You can choose properties that are growth oriented or income oriented. Diversified assets are designed with the aim to reduce risk. Remember, that if a real estate related risk affects one of the investments in that portfolio, it is going to affect all of them up to some degree.

Real Estate Partnerships

There are numerous housing societies and commercial complexes sprouting up around the Tricity region that people are readily investing in. There are individuals and groups of individuals as well that have exorbitant amount of money at their disposal and seek real estate partnerships for the purpose of sharing responsibilities and profits as well. This is an option that can be used to procure property at a lower price and once the property is completely developed, you can sell it at a very high margin. Depending upon the terms of the partnership you may even be able to set the terms such as paying the mortgage, handling the down payment for the property or the number of responsibilities that are handed over to you.

Real Estate Investment Trust

Real Estate Investment Trusts are gaining popularity day by day because they are intended to enable more and more people to invest in the Indian property market with the sole aim of boosting funding in the sector. The Indian real estate sector comes with a few uncertainties but with a lot of potential. According to a study, an REITs investor can start with as small a sum as rupees 2 lacs only. The REIT platform is already approved by the Securities and Exchange Board of India and just like mutual funds; money from all investors across the country is pooled into one place. This money is then invested in commercial properties around the country to generate income.

REIT Works Like A Charm

Real Estate Investment Trust generates funds from a lot of investors which are directly invested in properties such as offices, hotels and shopping centers, malls and warehouses, shops and showrooms and similar investment avenues. These trusts are also listed with stock exchanges and their assets are held by independent trustees for unit holders / investors.

Advantages Of Real Estate Investment Trusts

  • Income dividend - You get 90% of distributable cash twice a year.
  • High level of transparency - Full valuation of the property is showcased on a yearly basis which is also updated on a half yearly gap.
  • Portfolio diversification - REITs have to follow specific guidelines and are required to invest in a minimum of two projects of which one should have at least 60% asset value.
  • Low risk - 80% of the funds generated have to be invested in revenue generating or completed projects. The remaining 20% is typically invested in under construction projects, mortgage-backed securities, equity shares and other cash equivalents.

But the question is at a time when anyone would be dicey about associating with the real estate sector why would you be so keen on finding out ways to invest in this industry? The biggest reason for anyone to shell out cash to invest in the real estate sector is the rapid and mind boggling development of the Tri Cities region in Northern India.

Mohali is a popular city and a part of the Tri Cities region in Northern India. The city which was built as an extension of Chandigarh has become one of the primary investment spots as we speak.

Upcoming Real Estate Projects In Mohali

The amount of money being pumped into The City (particularly Mohali) stands at a staggering 3 billion US dollars and that itself speaks of the volume of development and profit potential of this region.

Factors That Drive Growth And Development In Mohali

The Chandigarh International Airport Road

The project that was completed in the year 2015 has uninterrupted connectivity to major international destinations from the Tricity region.

Railway Station At SAS Nagar

The railway station connects the Tri City area with major National locations such as Delhi, Ludhiana, Ambala and Amritsar and several other parts of the country.

Rise In Housing Demand

Because Mohali is in close proximity to Chandigarh, the rising demand of residential and commercial properties is getting diverted to Mohali quite organically.

IT Special Economic Zones

Global tech giants such as Philips, Dell, Sebiz Infotech and SCL have already planted their roots in this city and are turning it into an IT hub.

Metro Rail Project In The Works

A Metro rail network has also been proposed to connect the whole of the Tri City region. The length of this corridor is going to be 37.573 kilometres out of which 23.468 kilometres will be elevated and the remaining 14.105 kilometres is going to be underground.

Knowledge City

Sector 81 is the Knowledge City of the Tri City region where educational institutions like Indian Institute of Science Education and Research, National Institute of Agri Food Biotechnology, Indian School of Business and National Institute of Nanotechnology are already functional. Improvement in health facilities along with a strong network of roads (52 kilometres of national highway and 1272 kilometres of state highway) make it ideal for the rising number of residents across the region.

Final Thoughts

The Tri City region without a doubt presents a very lucrative option for investors willing to put their money in both residential and commercial projects. The odds are in your favor regardless of the type of property you pick or the area you choose to invest in.