Commercial Projects In Goa As An Investment

Most people invest in residential property or land when they want to safely park their funds

. However, there are few investors who choose commercial projects as the returns are significantly higher. Of late, several investors have been looking toward purchasing commercial projects in Goa. Tourism has led to an increase in the demand for real estate in this state. At the same time, the industrial growth in Goa has led the generation of several jobs here. All of these factors have contributed towards making Goa investor-friendly.

However, as is the case with any other investment destination, it is important to follow some time-honored steps and guidelines while purchasing commercial property. If you are a first-time investor in commercial property in Goa, this article will give you an idea of the fundamentals of purchasing property here.

The legal aspect

This often turns out to be the most important facet when you are looking for commercial projects in Goa. Whether it is a property that costs a few lacs or a few crores, consulting with an attorney and studying the paperwork remains an integral point. Often times, people shy away from carrying out all the minute legalities associated with a property simply because it is a bureaucratic and time-consuming process. However, a legally-safeguarded property helps you save a lot more headache in the long run. You need to check several aspects such as the title of the land and the property, relevant civic and environmental clearances and No Objection Certificates, transfer rights of the developer, and so on.

The viability of the project

A commercial project in Goa should ideally yield high returns by way of rentals. However, if the property is for self-use, then you need to consider the following aspects:

Is the property located at a prime location?

Will my customer base be able to access this address easily?

Does the property give my business a better identity?

Is my commercial property at par with or better than my competitors?

Does my commercial property in Goa offer latest amenities such as power backup, security, reception area, and so on?

All these are indicators of the viability of a project. If you think that the project might not be conducive to business you hope to bring in, it might not really be the best investment for you. This is one aspect where you need to take time and think about the best commercial projects in Goa.

The financial aspect

As compared to a residential project, you need to have a higher percentage of capital available for a commercial project. While you might get up to 80% of the total cost of your home as loan for a residential project, this amount would go down to nearly 40%-50% for commercial projects. Thus, before you invest in commercial projects in Goa you need to plan your finances properly.

by: Sachin Kshirsagar

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