Commercial and Residential Real Estate in NCR

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Commercial Property

Commercial Property consists of any property which can be used for commercial purposes which generate income such as retail shops, office spaces, food courts, cineplex, parking structures, conference plazas, warehouses, factories, IT Data Centres, & other shops. They are different from property that may be used for residential or agricultural purposes that although may generate income, are primarily developed for personal, not industrial or commercial use.

From an investment point of view, there are several advantages of investing in a commercial property than a residential property in India. They include:

  • Commercial properties are generally developed after a lot of research. The developer takes into account things like cost of land acquisition, construction and other costs to derive their profit margins. The property is thus generally at a location that is easily accessible and well connected, amid a catchment area with few competing projects.
  • It is easier to lease commercial property for longer duration to corporates creating stable, assured rental income for life.
  • A large office space can be divided into smaller sections if need be, ensuring financial viability of the investment.
  • Property management in commercial properties can be managed by professionals and be paid by tenants ensuring reduced stress for the investor as compared to a commercial property.
  • The return on investment on a commercial property is generally between 9-21%, while for most residential property investments the returns are 1-3%.

Speaking specifically about the Real Estate Sector in the National Capital Region, the residential property rates are stuck at the 2013-2014 levels. There is massive inventory with the developers with some reports suggesting it might take over 4 years for the inventory to clear.

The commercial property sector meanwhile is faring much better with prices up nearly 45% from 2013 levels and vacancy rate below 5% in many micro pockets in Gurgaon. The demand of office space from corporates, ITeS, and retail are the key drivers of this phenomenon.

Residential Property

Residential property is should be the property one buys for their own personal needs. Various types of residential properties include Villas, Apartments, Luxury Condominiums, Bungalows, or plots of land which one plans to develop later. Generally, a person buys residential property only once or twice in their lifetime. Hence one should take their time researching about the property and do so with a clear picture of their current and future requirements in their minds.

Some requirements of residential property are:

  • It should be in a residential area. Buying a residential property in a commercial area makes little sense as one would be constantly disturbed by noises of vehicles coming and departing, of factory activity, and other commercial activities. From a security point of view too, a commercial area has a large floating population which is difficult to monitor.
  • It should be free from all claims and liens. Buying a property without doing due diligence is asking for trouble. At any point someone may stake a claim or raise objections which may take years to settle later and cost a fortune in legal fees.
  • It should be a quality construction. If buying built up property it is essential to check the builders previous projects and have an independent inspection of the property from professionals to assess quake resistance and take ample measures to prevent water seepage from cracks and joints.
  • It should be close to amenities. A recent research has found that most of the house buyers are young couples as their parents already have a house of their own. Independent nuclear families who plan to have children in the future and a big thing to plan for in India is the school where the children will go to. In fact people give more weightage to having a good school nearby than to markets, religious places, and even hospitals.
  • Other things to look for are the price of the property, law and order condition of the area, water and electricity supply to the property, & distance from work among others.

So we see that the two different types of properties cater to different people with their own needs. While the commercial property is bought with an aim to invest & perhaps either rent or sell later, a residential property is bought primarily for self. In both cases it is important to identify the needs or the reason for buying the property, doing due diligence, partnering with the right developer who is honest, has the expertise, and understanding of the local market to get you the best possible deal.

Questions Those Buying, In A Senior Community, Should Ask

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In many areas, of the country, one of the fastest – growing, components of the housing market, is Senior Housing, often created, either limited to those over 55 or 62, and, often, set up, as a Home Owners Association, or HOA. For many, this is a smart move, because of the security, maintenance, social, etc, aspects. With that in mind, this article will attempt to briefly review, consider, and discuss, some of the questions, a potential buyer, should ask (and be satisfied with the answer), prior to purchasing.

1. Reputation of builder/ developer: Has this builder/ developer, developed this type of housing, before, and what is the feedback, and the reputation, for quality, etc? Has that organization, kept its word and promises, and built, using quality products, and exceeded expectations?

2. What was this site, previously? Are there any environmental considerations, etc, which are relevant, to safely, living somewhere?

3. Who will serve on the Board of Directors, how will they be elected/ selected, the term served, and powers? Some groups (most) elect and are served by a volunteer Board, but who will administer, the day – to – day, operations of the houses and common area?

4. Maintenance charges/ fees: How will these be determined, and what will be covered? Will the annual budget be voted on, and what will be the rules? Who will be the administer, and will developer, take care of this aspect, until a certain percentage of the units are sold, or when? Will services, such as snow removal, lawn maintenance, exterior maintenance (including painting, roofs, etc), be included? What, specifically, will be considered, common charges, as opposed to, the responsibility of the individual owner?

5. Security: Will the community be gated, to restrict unwanted visitors, and enhance security, etc? Will these costs be included in the common charges?

6. Facilities: Will there be a Clubhouse, recreational facility, common meeting spaces, etc, built by developer, and for how long, will developer, assume responsibility, for maintenance of these items?

7. Material defects/ issues: What will be the developer’s responsibility for material defects, issues, etc? For how long? Will there be an escrow account, or similar, to protect, owners, in this regard?

8. Neighborhood: Check into issues, such as safety in the area, convenience to transportation, shopping, etc?

9. Local courtesy van: Will developer pre – purchase a new, courtesy van, for the exclusive use of owners, to take them to key locations, such as food store, pharmacy, train station, and other key places? Will this be deeded to the Home Owners Association, once the occupancy, reaches a certain level?

The better you are informed, the better you will do. Ask questions, and demand realistic, relevant, sustainable answers/ responses.

El Shaddai DWXI-PPFI Prayer Partners Foundation International

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El Shaddai DWXI-PPFI

El Shaddai means God Almighty. El points to the power of God Himself. Shaddai seems to be derived from another word meaning breast, which implies that Shaddai signifies one who nourishes, supplies, and satisfies. It is God as El who helps, but it is God as Shaddai who abundantly blesses with all manner of blessings.

God desires to bless man and provide in abundance all of man’s needs. This name is indicative of a God who is powerful enough to do just that. Only an all powerful God can bless all mankind with all manner of blessings.

In 1984, Mariano “Mike” Z. Velarde or Bro. Mike to the ministry members, a geodetic engineer by profession and a real estate developer, started a Catholic Charismatic Group called El Shaddai Prayer Partners Foundation, International. It was first formed in Manila, Philippines. Now, 25 years after, it has grown and spread to many parts of the world with millions of members. A lot of people in the community have been blessed and experienced healing and renewal proving to the world and to a lot of skeptics that it is indeed God’s work and as such, guided by the Holy Spirit. For if it’s not the work of God, it would not have grown to such a multitude in only 25 years of ministry.

Many people, including Filipinos, thought the El Shaddai DWXI-PPFI ministry is a different religious group when in reality it is not. It is a Charismatic Community consisting of Catholic individuals. The El Shaddai ministry belongs to the Catholic Church, financially supported by its members and spiritually supported by the Church.

The Ministry conducts its weekly mass and healing rally every Saturday from 4pm-11pm in Amvel City, San Dionisio, Paranaque City, Philippines.

Besides the weekly grand event, there is a daily worship service from 6pm-9pm (except Tuesdays which is also held in Amvel City from 4pm-10pm) in its office in Amorsolo St., Makati City, Philippines. It is during Saturdays and Tuesdays that the healing message is given by the Servant Leader himself, Bro. Mike Z. Velarde. On Tuesdays, before the healing message, Bro. Mike entertains questions from some attendees and provides them with enlightened answers.

If you want to experience God in your life, you are invited to join us in our worship of the one true God through His Son, our Lord and Saviour Jesus Christ, and be enlightened by the power of the Holy Spirit and start living a life that is truly blessed, spiritually and financially.

Come, the Lord is calling you.

“Come to me, all of you who are tired from carrying heavy loads, and I will give you rest. Take my yoke and put it on you, and learn from me, because I am gentle and humble in spirit; and you will find rest. For the yoke I will give you is easy, and the load I will put on you is light.” (Mat. 11:28-30)

TO GOD BE THE GLORY!