Commercial Property

Commercial Property Explanation

Commercial property, or commercial real estate, is an investment property aimed at generating profit. It includes retail locations, rented properties, offices, warehouses, business places, farmlands, accommodation structures, hotels, and shopping centers. 

In several states, commercial property has lower stamp duty and registration fees compared to residential property. 

Understanding Commercial Property

Commercial property refers to real estate used for commercial purposes such as industrial, retail, office, and hospitality properties. It is typically zoned for commercial use and governed by different regulations and taxes than residential properties. It may be owned by individuals, corporations, or partnerships, and managed by property management firms. 

Types of Commercial Property in India

Commercial property in India includes retail stores, industrial facilities, leased properties, warehouses, office buildings, accommodation buildings, hotels, farmlands, and malls. 

Commercial Property Law Explained

Commercial property laws are established by administrative authorities to legally address property-related issues and disputes, and they also apply during land or property transfers. Examples of such laws in India include: 

• 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

Commercial Property Regulation Scope

1. Business property regulation encompasses:

2. Renting of commercial property and resolving related disputes

3. Management, sale, and purchase of investment property

4. Development of residential and commercial building projects

5. Issues related to financing of commercial property purchase or lease, and project financing

6. Resolution of commercial property disputes through litigation, arbitration, and mediation.