- Definition of commercial property
- What is commercial property?
- What are the types of commercial property in India?
- What is commercial property law?
- Matters covered by Commercial Property Law
Definition of Commercial Property
Formally, commercial property or commercial real estate is a type of investment property that is deliberately used to create a profit. The main purpose of using Commercial property or real estate property is to generate income from the owned property. Retail locations, rented properties, modern offices, stockrooms, places of business, farmlands, lodging structures, inns, and shopping centers are a few instances of business properties.
In many states, stamp duty and registration charges for commercial property are less than that for residential property.
What is Commercial Property?
Commercial property can be defined as any real estate property that is used or intended to be used for commercial purposes, including industrial, retail, office, and hospitality properties. This type of property is typically zoned for commercial use by local governments and is subject to a different set of regulations and taxes than residential properties. Commercial properties may be owned by individuals, corporations, partnerships, or other entities and are often managed by property management companies.
What are the types of Commercial Property in India?
Retail stores, industrial facilities, leased properties, warehouses, office buildings, housing buildings, hotels, farmlands, and malls are a few types of commercial property in India.
What is Commercial Property Law?
The administrative authority of a country or state, or city deploys commercial property laws to cover property-related issues legally. Such property laws help the administrative authority or state government to solve property disputes raised in their localities. Plus, these commercial property laws are also impactful at the time of any transfer of land and properties. Here are some examples of commercial property laws in India:
Transfer of Property Act, 1882
Land Acquisition Act, 1894
Delhi Lands (Restrictions on Transfer) Act, 1972
Prohibition of Benami Property Transactions Act, 1988
Multi-State Cooperative Societies Act, 2002
Real Estate (Regulation and Development) Bill, 2013
Matters covered by Business Property Regulation
A portion of the areas covered by business property regulation include:
Renting of business property and settling questions if any among inhabitants and the landowners of business properties
Matters connecting with the executives, buy and offer of speculation property
Advancement of both private and business building projects
Issues connecting with supporting of business property, buy or rent, and financing of activities
Goal of business property questions through the case and other elective strategies for goals like discretion and intercession.