As per AFFORDABLE HOUSING POLICY 2013, all affordable housing projects have 4% of the total area is available for Commercial Use:
A commercial component of 4% is being allowed in the project to enable the coloniser to maintain the colony free-of-cost for a period of five years from the date of grant of occupation certificate, after which the colony shall stand transferred to the “association of apartment owners” constituted under the Haryana Apartment Ownership Act 1983, for maintenance. The coloniser shall not be allowed to retain the maintenance of the colony either directly or indirectly (through any of its agencies) after the end of the said five years period. Engaging any agency for such maintenance works shall be at the sole discretion and terms and conditions finalised by the “association of apartment owners” constituted under the Apartment Ownership Act 1983.
BENEFITS OF INVESTING IN COMMERCIAL / RETAIL PROPERTY IN GURGAON
Gurgaon has emerged as one of the fastest growing sectors in Northern India in terms of Commercial Real Estate, Residential Real Estate and IT Sector in the last decade. A boom in the trend of investment in Luxury Residential Apartments & Penthouse is clearly visible thus resulting in the boom of Investment in Commercial / Retail Property which includes space in malls.
The reason people are investing in retail shops in Gurgaon and commercial property/space is due to the rise in fashion of spending at big supermarkets and Malls. People are more likely to spend their weekends and free time at Malls and High street markets. The lifestyle of people living in the metro cities has changed a lot in the last decade. Especially if we talk about Gurgaon, we will observe people wearing and eating big Brands. All their luxury desires are fulfilled at Retail Shop Markets & Malls.
Commercial property in Gurgaon produces higher returns against the investments. Another advantage of investing in retail/commercial real estate is that the developers are offering smaller units (as small as 300 sq. ft.) which allows the investors with low budget to invest in a good market. Even today professionals like doctors, lawyers, are also investing in commercial for investment and self-use.
One of the greatest favorable advantages of purchasing a Retail/Commercial property is that you have control over the most parts of your speculation. You are the one who is going to decide either the property you are investing in is going to reap you good fruitful returns. Knowing that you are in charge of every decision for investing in a particular property, you will become more likely to seek more and detailed information about the project you are investing in, as your market research in retail property will make your decision a failure or successful investment.
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