Shops in non-regularized areas have found a new favor among buyers in Delhi NCR region.
Investors have been increasingly finding this a great way to have a commercial property at a cheaper cost that can return at least 50% of what a commercial shop can make inside a society.
Generally, getting a shop in these non-regularized areas would be at least 50% to 70% cheaper.
However, the returns are good only if the shop is at the end of the non-regularized areas facing an authorized sector or colony which makes it highly approachable.
In places like Noida and Greater Noida, where commercial property comes with its own headache of Leasehold tag, such options are selling like hot cakes. Even banks are doing their set ups in such areas.
A view at the range of shops just next to Jaypee hospital in Noida (see image) is enough to gauge the growing interest and potential of these options.
In Greater Noida’s Noida extension region, a two storeyed commercial establishment in front of stellar jeevan also got sold in a months time. Same goes for Sohna Road extension and Neharpar regions in Gurgaon and Faridabad respectively.
In Noida, such shops in new sectors can be bough at 3k to 5k per sqft. In Gurgaon’s developing areas, these are available at 4k to 6k. In Faridabad, the shops at beginning of Neharpar’s new residential establishment comes at 2k to 4k.
However, investors have to ensure they have the risk taking capacity as there is a remote possibility of such establishments being brought down as they are considered illegal in some regions unless notified otherwise.
Last updated: June 5, 2015 at 17:48 pm