Buying a commercial property is a huge investment decision and has many advantages and is preferred over under-construction projects by many people. However, you must make sure the property has clear ownership titles and that all government permissions are in place. Here is a checklist of all the documents that must be scrutinized by you, while purchasing a commercial property which is up for resale. Rental yields on commercial properties tend to be higher than on residential properties, as the vacancy period of commercial properties is generally not too high since it is not difficult to find tenants. Besides, the longer lease periods for tenants are another major attraction.

If you are looking for investing a commercial project it is important to go through the below checklist to make a smart commercial investment decision:

Property Location: Commercial Property at a prime location is the first choice for retail or office use. Thus, you get the advantage of easy leasing. Moreover, one can readily obtain loans for projects in a prime location.

Social Infrastructure and connectivity: Before moving forward, do a site visit to learn about the area’s social infrastructure, such as nearby restaurants, malls, and shopping centers. People will be more likely to visit the area, if it has these amenities and good connectivity with residential areas.

Sales Deed: The sales deed is the most crucial document that you must check with diligence from the seller. After all, transfer of ownership of the property to the current owner from the previous owner is done through a sales deed.

Building Plan: This document must be scanned to determine if the building plan has been approved or not. Also, to know the plans for the property such as the design of the property, the layout of equipment, and various utilities.

Conversion Order: A conversion of the use of the land must have been filed by the builder if the land on which the commercial property stands currently was agricultural or residential land. Thus, verification of conversion orders must be done by you to avoid any problems in the future.