In the terms of the real estate market, there are several kinds of properties one could hold. Mainly, the different destinations include residential property, commercial, industrial, and retail properties. These differences occur due to the unique characteristics each category possesses.
Two of the most widely famous real estate properties are Residential and Commercial Properties. If we are looking place-wise, Gurgaon is popular in India for the high-end infrastructure and rapid urbanization. The real estate market over here has observed immense growth and keeps growing with the developmental areas.
Retail or commercial shops in Gurgaon are rapidly increasing in number with more and more companies and residentials entering here.
The Residential and Commercial Properties hold a major chunk in the real estate market. So let’s have a look at what separates them from one another.
Residential v/s Commercial Properties
At first, the definitions of residential and commercial properties shall serve as the main difference. The property you hold in the form of residential property is mainly for dwelling purposes, meaning for residing or staying in it. On the contrary, if you are looking for a commercial property, it is ideal for business purposes. It could be starting up your store, company, industrial project, and more.
One of the key differences residential and commercial properties hold is the kind of customers that approach them. When it comes to residential properties, you would find individual demands that need to be met. It could be someone looking for a 2BHK flat/apartment and living as owners or tenants. While on the other hand, commercial properties communicate and do business with clients and customers.
Location of the property
The reason why people prefer prime locations is because of the benefits they offer. In the case of residential properties, you will be able to live at the heart of an area that comes with several amenities and benefits. The amenities mainly include a good apartment comprising a club house, garden area, parking facility, swimming pool, etc. Moreover, living in prime locations will offer you easy access to superior grocery stores, shopping malls, movie theatres, schools, offices and a lot more.
As in the case of commercial properties, being at a prime location matters a lot for the company. By being in a prime location, the employees can commute easily as the transportation facility will be good. Also, the clients and customers visiting you will be larger in number as compared to the ones when situated in a remote area. However, the only difference is the emphasis of commercial property location is higher than that of residential property location.
Appreciation of Value
Commercial properties exhibit a higher level of appreciation after a period. As and when the area keeps developing, the value of a commercial property keeps getting higher and higher. It is also found in residential properties, however, the rates are much higher in commercial properties. That is due to the power the location and area holds.
Repair and Maintenance of the property
Any property undergoes wear and tear after a certain period of utility. The regular and sudden repairs and maintenance activities occur in both residential and commercial properties. However, it is more difficult to run a commercial property due to vast area coverage. If your residential house has a breakdown, you can immediately call up the plumber, electrician or any specific person to get it sorted.
However, it becomes more complex when we are dealing with a commercial property. The area of coverage is large and you can not just stop the work mid-day and hope for the electrician to fix the problem.
The above stated were some of the key differences between Residential and Commercial properties. To conclude, although they don’t carry much difference as both fall under the real estate industry, they are not one and the same.
How can we help you?
If you are looking for a quality residential property or an office space in Gurgaon / Sohna Road, you can always get in contact with International Land Developers, ILD. This development company holds more than two decades of expertise in the field of real estate. With so much experience in one particular market helps you have leverage in benefitting clients with only quality properties.
International Land Developers is well-known for exceeding customer satisfaction and offering much more than what clients are asking for. The developers ensure to keep a balance between form and function to promote comfort and luxury at the same time.
Back in time, ILD was one of the initial movers and investors in the recently famous Sohna Road, Gurgaon. It was then when ILD had predicted the growth and steady rise of one of the most happening areas in Gurgaon, Sohna Road. Today, ILD has its presence in residential, commercial, retail and industrial destinations. So if you are looking for office space in Gurgaon/Sohna Road, contact International Land Developers to get a quote today!