Commercial property refers to the real estate used to produce profit or any land used for business purposes. In other words, any building that is used to generate revenue is known as commercial real estate. In most cases, the commercial properties are given on lease for 50 or 100 years for revenue generation by state or private organization. There are different types of commercial properties; hotels, hostels, guesthouses, warehouses, godowns, shops, showrooms, offices, etc. Commercial lands are relatively more expensive than residential land. These properties are mostly linked to the main roads that help in transporting manufactured goods efficiently. Due to the high cost invovlement in the sale/purchase of the commercial property, dealing and transfer of property are done through proper channels via an agent. Commercial properties are also used for residential purposes, such as apartments, servents’ quarters over the malls, and markets (on the ground floor).
