There are several others who want to know the procedure for using the Commercial Property Estate Agent in Panchkula.
This is a common practice in almost all cities due to the exorbitant rental prices. It reduces the cost of leasing or buying commercial real estate as well as the time and money spent commuting.
Housing societies frequently forbid owners from using the entire residential apartment for commercial purposes, but they are permitted to use a specific area.
You must be mindful of certain restrictions and legal requirements, though.
Having an office space is a great way for professionals to grow their businesses.
However, you can only use your residential property for businesses if the zoning and society management regulations allow you to.
It is important to note that some States have more lenient regulations and permit professionals, such as doctors and lawyers, to use up to 30% of residential property for commercial purposes.
Is there a law in India that governs how residential property is used?
The local municipal government or authorities in India create zoning laws that regulate how property is used in various cities.
The use of land in a particular area is outlined by regulations under zoning law. In order to protect residents from the detrimental effects of commercial activity and to facilitate the development of commercial areas, the law seeks to divide residential areas from commercial ones.
What is stated by the law?
According to the law, one type of commercial activity that is permitted in any residential area is the provision of services by resident advocates, attorneys, physicians, and accountants.
Depending on the type of business, you may need to obtain certain permissions before using a portion of your property for commercial purposes, including approval from the society and the local municipal office.
Remember that having an office from home is a widespread practice in the country.
However, a commercial activity that involves the movement of goods from residential properties is considered to be unlawful unless specific permissions are obtained.
If a property is designated as commercial, all subsequent uses including taxation will treat it as such.
However, in accordance with the Supreme Court’s directives, the following activities are not permitted inside residential premises:
- Wedding hall
- Any activity that makes use of potentially dangerous or flammable materials
- A place where cars can be repaired
- Retail establishments liquor, junk food, and building supplies
Important things to keep in mind
The following considerations must be made before turning a portion of your home into an office.
- Obtain a license for your store or establishment from the relevant municipal body.
- Be certain of the location you require and the type of business you plan to run before you involve.
- Paying more in property taxes may result from turning a residential property into a commercial one.
- Depending on the location, size, and type of business activity, the civic body would impose commercial fees on the real estate as well as the water and electricity supplies.
- Some companies can operate without a government permission certificate.
- The usual exemptions from paying commercial fees include teaching, yoga, painting, dance, and tuition classes. This means that you can operate these businesses on the property without converting it.
Legal repercussions that vary between States may result from defying government regulations and engaging in commercial activity on private property without first converting it.
For instance, in Panchkula, the fine for conducting business out of a residence is one percent of the total cost of the property, which is a sizable sum.
Therefore, before making any decisions, always seek legal counsel and take the appropriate actions.