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Consider these aspects before Investing in a Commercial Property in Goa

Commercial Spaces | 19th October, 2022

Vacation, dream destination, escapade, exotic land— however one associates with it, Goa surely knows how to cherish pausing moments amidst a hustling life.

With the hybrid work model integrated into the present work culture, more working professionals have shifted their base with “Staycation” facilities, thus bringing a new wave of demography to Goa. As a result, the state has experienced a commercial expansion catering to the lively community. From top-class brands to startups, entrepreneurs seek cost-effective but exuberant markets to start their ventures.

From investors’ perspective, property prices are expected to appreciate by 27-30% annually after the MOPA airport mega-project (source: Goemkarponn )

To get the best of this real estate hotspot, we have curated a checklist to consider before buying a commercial property in Goa.

Location benefits and connectivity from key business zones

The primary identifier for a business is its location. There are several benefits of a strategic location as follows–

  1. Accessibility: A well-planned placement will allow potential customers to access your business easily.
  2. Supply chain: Top-notch customer service with expedited services is a must in the era of online transactions. A location equipped with good infrastructure will streamline your supply chain.
  3. Workforce: With a burgeoning location, you can expect the best recruitment resources. Working professionals prefer locales that have proper transport facilities for a convenient commute.
  4. Brand value: a strategic location also facilities proper marketing for your business. With a prime location, your business gets the right exposure. Also, a posh area signifies your brand reputation.
  5. Financial: Startups must contemplate finances before establishing a base. The rental structure and property value differ for various locales. It is crucial to determine a location that corresponds to your budget for a lucrative long-term investment.
  6. Competition analysis: A central location that hosts a competing market is essential for businesses to set their KPIs. Consequently, your business progresses with growing demand. In addition, your business gets exposure within the free market.

Coming to commercial prospects in Goa, Kadamba Plateau is an emerging posh locale known to attract HNIs and tourists. This lively locale is a suitable foundation for commercial spaces with the following benefits–

  • Goa International Airport is just a 40-min drive from this suburb via MDR 1.
  • The nearest railway station (Karmali) is just 3km away.
  • Kadamba Plateau is well-connected to the rest of Goa via NH 748 and NH 66.
  • The suburb enjoys a convenient public transport system with autos, cabs, and buses readily available at all times.

Ready Possession inventory

It is often recommended to opt for ready possession for commercial properties as it saves on your EMI or rents. Since commercial properties are valued higher than residential, one should thoroughly evaluate them before buying. Ready possession inventory allows for assessing the floor plates according to the requirements of the office space in Goa. For retail and showroom spaces, ready-to-accommodate spaces are a better option in accordance with your setup.

Thriving with Walk-ins for businesses to grow

One crucial aspect to consider when investing in a commercial property in Goa is the foot traffic in the area. Kadamba Plateau is one of the most lively and posh neighborhoods in North Goa. The commercial landscape of this area is adorned by top brands, luxurious hospitality, high-end retail and much more.

As a result, the footfall in this area is higher than in other locales. Setting your business in a bustling location guarantees high walk-ins.

Reputation of the developer/promoter

To ensure that your business is established within legal rights, it is necessary to associate with a name that has an evident reputation in the real estate market. Here are a few aspects to consider while selecting the developer–

  • Transparency in your contract
  • Clear title and licence
  • Appropriate rental structure
  • Past projects
  • Other legal compliances

All these factors determine the overall reputation of the developer. You can always consult a legal advisor to assess the mutual contract before finalizing the deal.

Gera Developments has garnered a high reputation in Pune with an array of residential and commercial projects. Gera’s Imperium Premio – the commercial flagship project in Goa, offers smart and intelligent spaces in Kadamba Plateau. With a legacy of over 50 years, Gera Developments understand the client’s needs and comprehend the industry insights before constructing apt spaces. The 7-year warranty is an assurance of quality, reliability, and security. If you are looking for a commercial property for sale in Goa, then this project is a lucrative option considering the factors discussed above.

The project has been registered via Goa RERA registration number: PRGO03180075 and is available on the website https://rera.goa.gov.in under registered projects.

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