Invested in Commercial Property in Pune? Rent it like this!

Finding tenants for your commercial space can be a daunting task. However, many times, we tend to forget to make a legal document or agreement and later just register the lease document after the tenant is finalized!

Investments in commercial properties in a city like Pune have increased over a period of time. However, renting out these commercial properties/spaces often become a tough task. One needs to have an in-depth understanding of the various aspects of giving the commercial property on lease to a tenant. 

If you have been thinking about renting your commercial property, here are some tips and guidelines that you must know before you rent out your property:

Naiknavare Developers: Commercial Projects

#1 Find your tenant: Well, sounds too simple to do, but, can actually take a lot of time in some cases. Finding a suitable tenant is the first and foremost step in leasing a commercial property. If this is taking time, you can take help from an agent to hire the suitable tenant. 

#2 Negotiating on terms & conditions: We suggest you to have pre-decided terms and conditions before preparing the final lease agreement or the tenant. Also, the terms and conditions such as who will be paying the maintenance charges should be well clarified beforehand.

#3 Signing the agreement: Once the tenant is finalized, decide on the terms and conditions for mentioning in the lease agreement. The tenure or the duration of the lease varies from one state to another.

#4 Registering the Lease: This lease agreement should be registered with the concerned authorities by paying the stamp duty and registration costs. Also, keep in mind that no stamp duty or registration costs are payable on the amenities or services agreement. 

We hope these tips were helpful for you!

Also, if you are in search of your 4 BHK apartments in Pune, you can explore some of our residential projects in Viman Nagar. At Naiknavare Developers, we believe in providing better living and lifestyle experiences in our residential projects.

Naiknavare and the Developing City of Pune

Town Square - Naiknavare Pune

The commercial properties in Pune are slowly rising. There is a rapid development around the city which includes the rise of newly designed building and commercial areas. Most IT companies in India are diverting their attention to these cities as it continue to grow in terms of population and economic.

We cannot deny the fact that the once humble city of Pune is currently attracting investors and slowly developing the city. Today, Pune houses various manufacturing and engineering offices as well as offer better education in India. With the increasing number of residence, it is a high time to change the humble homes into innovative and spacious flats. Many sees Pune as a city with good fortunes as there are more people migrating in the area including people in the nearby countries. The demand for affordable homes that is ideal for different people. Naiknavare is among the developers that would want to give suitable homes for everyone so they can allocate more time for career advancement.

The city of Pune slowly changing its skyline as they rehabilitate pockets of slums and uplift the live of its dwellers, the crime rates becomes lower and becomes the center for education. With the help of Naiknavare and other developers, the city creates a secured community that welcomes anyone who want to migrate in the place.

Naiknavare also develops various town shopping centers where sellers can understand the needs of the buyers. They build communities that are accessible to the centers of trade. This caters to the neighborhood’s needs and thus, consumers knew that what they need are readily available in the nearest centers.

With all these developments, Pune becomes a place that is ideal for anyone. Water is abundant because of its location, the ambiance of the surrounding area is superb and the locals are warmth. Most people would love to have residences that are accessible to various centers in the city. Inspired with this, they develop town shopping centers where people will no longer have to travel long distances just to get what they need. In fact, neighborhood will definitely benefit from it because the entrepreneurs have strong connection to the people and understand their needs. What does this neighborhood prefer for shopping centers? They need better health and wellness facilities as well as groceries that cater to the neighborhood. Because it is within their proximity, it is easy to access. Most shopping centers provides better interior that invites people to do their shopping.

Types of buyers and residential project offering in Pune

The Spires - Aundh

Owing to steady growth in the IT sector, the city of Pune has also stood as a witness to rapid growth of construction in the region. Owing to good opportunities in the IT sector, migrants from all over the country land-up in search of better job prospects and opportunities. A resent statistic has revealed that  Pune has only about 20% of homes that are occupied by original owners, whereas a majority of about 55% are investors who intend on leasing out their apartment.  A third category of people has also been identified in the Long Term Appreciation investors who would not lease out their property but would wait for the right time for sale when the prices would go up.

Be it an investor or an individual buyer who has been planning to relocate, its important to have some vital bit of information while going for a residential projects in Pune or looking out for luxury apartments in Pune  Going for a property like a Villa or Bungalow in Pune shall give you a complete right over the property, and right from its maintainence to taxation, you would be liable to look after. While looking for housing society residential projects in Pune you need to understand its three types - Tenant Ownership Housing Societies, Tenant Co-Partnership Housing Societies, and Other Housing Societies

• Tenant Ownership Housing Societies – This type primarily refers to housing societies where land may be held either on leasehold, or on freehold basis by societies and houses that are owned or shall be owned by members. The decision making right lies with the owner of the land who has been legally mentioned on leasehold, freehold, ownership of building document. The decision shall be vested in the interest of individual members.
• Tenant Co-Partnership Housing Societies - These are societies are based on land that is bound by ownership or is on lease and has constructed flats thereon for the benefit of members who occupy them. Its members hold a right to building and property based on right to occupancy which right is transferable by transfer of shares to other members in accordance with the provisions of the Act.
• Other Housing Societies – These type of society are also known as house mortgage societies, or house construction societies. House mortgage comes with an objective of advancing loans to the members and to its society members for development of security on land and houses.

Find a Commercial Property on the Urbanized Belt of Pune

Viman Nagar has got its name from the air force station present in the area. Located near Lohegaon airport, the place offers much-improved road network, good public transport and can be easily reached from the airport as well as the railway station.

With the progressive development going on at Nagar Road, the entire stretch from Viman Nagar to Wagholi has witnessed the substantial growth in residential, commercial and retail sector. Initially, the real estate in Pune at Viman Nagar was looked as a prospective location due to its close proximity to premium neighbourhood Kalyani Nagar and Koregaon Park. However the arrival of IT sector in the vicinity has become the main USP of this area today.

The IT segment and multinational service industries has attracted many investors to this part of town. Development of residential and commercial infrastructure over the years has now made Viman Nagar, one of the most preferred areas for the migrated software professionals. Good connectivity and public transport have played a major role in the drastic development on this belt.

The Nagar road has been widened to six lanes. Also, the area is proposed to be a tangent to the ring road which will be planned to surround the city. Numerous such developments have enhanced the real estate in Pune from Viman Nagar to Wagholi. With more infrastructure projects in the pipeline, the area is set to be one of the most preferred residential and commercial options in the city.

Commercial Property in Viman Nagar Pune – Town Square Shopping Center 

Town Square Shopping Centre offers commercial office space in Pune at Viman Nagar. This commercial project is developed by Naiknavare Developer’s Pvt Ltd - one of the trusted and popular developers in Pune. It is a perfect place for retailers and business professionals, who haven’t so far found the right commercial property to establish their business at this fostered belt of Pune.