30 May 2016, 10:30 — 3 min read
Growth and change are inevitable, but sometimes change occurs due to a need. Need and necessity are thus the prime movers of invention and intervention. This phenomenon is most evident in realty and rentals. Nowadays to have a roof over one’s head is a necessity and lucky are the ones who have it. With the necessity getting fulfilled the demand ultimately shifts to a second home!
And hence there exists a huge demand for rental housing spaces. To cater to this need, realtors went hammer and tongs to build more and more homes resulting in oversupply and consequent stagnation in housing rents.
The India of today is a land of entrepreneurs whose mantra is ‘Make in India’. From production, services, outsourcing, education and beyond, every field now looks promising. A common thread that unites all these sectors is the need for office space and more so, rental office space given the skyrocketing real estate prices, tight budgets and cost controls. Given the demand-supply mismatch and need for highly personalised office spaces, the returns in terms of office rentals (8-10%) are better than rentals from housing (3-5%).
A new concept making a splash in the field is that of Office Retail Complexes (ORCs) which provide ‘Luxury Boutique Offices’. Your office is no longer made up of staid walls and a peeling ceiling! It is almost a replica of a high-end luxury hotel’s foyer which is luxurious and has all the amenities such as conference rooms, meeting rooms, high-end cafeterias, recreation areas, wi-fi connectivity, tight security besides the usual facilities like washrooms and elevators.
Here are some of the advantages that ORCs guarantee you.
These are some of the reasons why investing in commercial real estate is an excellent choice for growing your wealth.
Posted byUmesh R Pawar
We are Realty Advisory Network known in the past as Dream Works Realty. We are in the business of assisting in real-estate transactions in Pune be it residential or commercial...