subject: Tips on leasing a commercial property - India [print this page] Tips on leasing a commercial property - India
Leasing a commercial office space in India has a lot of strings attached unlike in the western countries. As a corporation shopping for a commercial space, one has to be more careful in terms of rate structure, locations, feasibility and basic infrastructure, as this may result in financial losses at a later stage. Some of the important point which needs to be kept in mind is as under: Engage a good commercial real estate broker It is important to know your broker well, as he is the bridge between you and the landlord / developer. All brokers are not capable of handling a commercial deal as it involves basic working knowledge of commercial real estate. As a corporate, it pays in the end if you engage a broker who has a property to offer available with him directly, do not opt for a chain broker. A good local commercial broker is a great resource. Property Location Locating the right property is the key, which fits a business profile, easy access by the employees, and the most important an economical rental tariff. A check on the occupancy percentage in the development would give a fair idea of the type of tenants i.e. (the brands) who are the occupants. Rental Tariff In India there are no rate cards for tariffs of a particular location, its for your broker to work out the best for you, matching the company budgets as closely as possible. Its his job to negotiate the best deal, working closely on the terms and conditions. (It is there for important to engage a well versed broker) As a proposed tenant you have other expenses to look into apart from the monthly tariffs, your broker should let you have a break down costing figure.
