Property that falls between industrial and residential is known as commercial property. Commercial property is much hyped about in metropolitan cities. The government sometimes even provides incentives to promote these areas. Subsidies, tax exemptions and more are provided to welcome commercial property buyers.

As India has opened its doors to globalisation, the property market is getting aligned to the international market. Hence the trend that emerges on the global front seeps down into India.

In the 60s Central Business Development areas were heavily in demand as commercial property. As there were too many takers and a few sellers, exorbitant rates were charged. Including heavy advance and one sided terms and conditions. Today the rent has fallen 30-40 percent below the actual charges.

Besides CBDs in the central area builders have begun to present commercial developed property in the suburbs too. This has evoked a resounding success. Hence today Nariman Point and Fort are no doubt the CBDs but focus has shifted to Parel, Dadar and recently to Andheri-Kurla Complex. Commercial plazas are outselling on a regular basis and huge conglomerates have set themselves here. However with many projects nearing completion at the Andheri-Kurla Complex, the supply is going to surpass demand bringing down the leasing fare in this area.

Today, commercial property with an international look is more in demand. Hence old property with a dilapidated look is not on the wanted list. Realizing this, builders are giving their constructions a grand look. Commercial property with a high-tech Grade A look is in demand in Gurgaon. Facilities like 100 percent power back up, fire fighting and security systems are inclusive have to be inclusive to make the property get ‘in demand’.

Commercial property has grown in importance with substantial increase in benefits. Even foreign citizens have entered the commercial property business. However they are subject to a few conditions before they involve themselves. Besides payment legalities, letting out of property and repatriation have to be adhered to as per the RBI guidelines by any NRI.

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