A Beginner’s Guide to Navigating the Commercial Real Estate Market in Kolkata

The property market in Kolkata is a vibrant mix of history, culture and commercial opportunity. Tall skyscrapers are going up fast, and now, Kolkata has a place for your small or large business to grow. Whether it’s an office or a shop that you are looking for, there’s always a commercial property for rent!

The importance of the right location for your business cannot be overemphasised. It will affect your brand, your image and your day-to-day operations. A perfect environment will ensure that your employees are inspired to work, your clients feel at home, and your business can thrive.

The Commercial Property Market in Kolkata

Kolkata offers a range of options in its commercial property market. From sleek, high-rise office spaces to warehouses, storerooms and traditional retail kiosks, Kolkata has a lot to offer. Popular commercial areas include Salt Lake, Park Street, New Town, Kolkata and more. These are well-established business districts, sought after by both domestic and foreign companies alike.

Choose the area which will best suit your business needs. If it’s a retail shop, it should be in an area that gets good footfall and is frequented by people. Tech start-ups and IT companies tend to prefer technology and business parks closer to transport and metro. Real estate agencies like Infinity Group Retail will guide you to choose the best space and location.

How to Search for Commercial Property for Rent 

First, shortlist your preferred areas. Look online at property portals to quickly scan through multiple options, view images, and compare rents in one place. You can also filter your search based on rent, size, location and other parameters. You may also want to consider such amenities as parking spaces or backup power.

Next, connect with local real estate agents or brokers. They have information about available spaces that may not be online. They can also arrange for you to physically visit five or six locations in one day. Experienced agents can also guide you on pricing and documentation, especially if you’re not well-versed in local property laws and rental agreements.

Finding a good commercial property for rent near me requires more than the space, four walls and a signboard. Consider the commute for your employees, the parking for customers, and the presence of banks, restaurants and shopping areas. Also, will the space be adequate if your business expands in the future?

Tips for Searching Commercial Property:

• List down your priorities (location, space, budget, facilities etc)
• Shortlist a few options and visit the actual sites
• Ask for a floor plan and take pictures
• Compare the rent and the terms of the agreement (flexibility, escalation rate, etc)
• Factor in the support services needed (courier, office supplies, nearby eateries, etc)
• Finding the right commercial property for rent near me is an exercise in a balance between a prime location, budget, and your long-term business goals. Don’t be in a hurry to sign a lease on the first property that meets your requirements!

Legal and Financial Factors to Consider When Renting Commercial Premises

Do a thorough check on the property and the landlord before signing an agreement. The first thing is to always ask for proof of ownership. Check that the landlord, or his parent company, owns the property or has the right to sublet the premises. Next, make sure that the premises are zoned for your business. This is especially important if you are renting in a mixed-use complex.

The lease agreement should clearly lay out all terms and conditions. Carefully read the fine print on aspects like rent escalation, security deposit amount, cost-sharing for maintenance, lock-in period and conditions for premature termination of the lease. Keep in mind that landlords often ask for two to three months’ rent as a security deposit. Tenants are usually liable for common area maintenance charges.

When you search for a commercial property for rent, make sure to:

• Verify that the carpet area is as mentioned in the agreement
• Ask whether GST, property tax or municipal charges are extra
• Request copies of the fire safety and compliance certificates
• Go through the fine print on subletting and interior decor and fit-outs

• Enlist the help of a lawyer experienced in local commercial property laws. Businesses like Infinity Group Retail can guide you on documentation and payment terms.

Conclusion

Kolkata’s commercial property market is a mix of the old and new, from traditional business districts to glass-and-steel high-rises going up at a dizzying pace. Finding the right commercial premises will give your business a foundation to build on as you take the next step. To grow, focus on finding the right location, aligning your business needs with your property, and doing thorough legal and financial due diligence.