Categories of Properties- Commercial Real Estate Propertiesby Akash Sharma Akash Sharma
The word commercial evenly derives out the meaning of profitability. Anything that is commercial is meant to derive a profit for the owner or the developer. We all are aware of these words as we get to hear them through our day to day lives. Another such term we get to hear commonly is residential. The basic difference between them is that residential properties are made for families to live in, whereas commercial properties are made to house office or business spaces.
With the development of the construction sector, one can find these places to be of different sizes and heights. Today modern and creative elevations are given to these properties to encourage the buyers.
There are different subcategories that fall out under commercial properties. It's important to look at these categories:
As the name suggests, office premises house different types of commercial houses. These again get categorized into urban and rural. The urban offices are bigger in spaces and more creatively designed than the ones in rural areas. One can see different skyscrapers in the cities which offer excellent commercial value. It is widespread in thousands of square feet. Commercial real estate is more widely spread in urban areas.
Retail sectors consist of either standalone or big retail houses. It can be owned by a single owner who can get multiple tenants to the premises or be given for single use by the owner. It depends on the structure and the purpose of the owner. The example of this particular sector includes restaurants, shopping centers housing various small shops, grocery shops, etc.
The stores or premises which are built and constructed for special purposes come under this category. Their use is simplified and is restricted to the purpose only. Amusement Parks, Religious premises or shopping malls etc., all come under this category. To be precise, even bowling alleys fall into this. KTC group of companies are well known for developing various such commercial sectors.
The industrial sector comprises all types of units that either manufactures or produces. These units are basically situated a little away from the urban areas. They are mainly located near the outskirts where the transportation facility is easily available for pick and drop of the produce.
Multi Utility sector
The name itself clearly states that this type of sector is made for multipurpose use. It doesn’t house any single purpose. It can have different types of family sectors together in its premises.
After the differentiation amongst these sectors, it is easy to understand the real estate sector. Varun Thapar of the KTC Group, has developed some of the masterpieces across the country. In case there is a requirement of development, one can definitely look for this group.
Created on Jul 13th 2021 01:04. Viewed 363 times.