Guide for Mirzapur Commercial Real Estate Investment

Mirzapur is a renowned city in Uttar Pradesh which is known for its carpet and brassware industry. It is also a very famous tourist destination. It is home to the sacred shrines of Maa Vindhya Vasini Vindhyachal, Kali Khoh and Ashtbhuja. Apart from that, it also has many waterfalls and natural scenic spots.

Over the years, Mirzapur has become a famous trading centre of central India as it started trading in cotton and silk on a huge scale. Let us now understand how investing in commercial real estate in Mirzapur might be a profitable venture.

Top Reasons to Invest in Mirzapur Real Estate

Here are some reasons why you should consider investing in commercial real estate in Mirzapur:

• Commerce

The most flourishing business in Mirzapur is carpet manufacturing. These carpets are exported from India to different parts of the world. Both small-scale and medium-scale carpet production is done here. The second most important business is of metal pots. Therefore, if you are planning to invest in warehouses and factories, there is no better place than Mirzapur.

• Tourism

Mirzapur has been a destination for tourists for quite some years now. People from the neighbouring states visit this city due to presence of ghats, temples and a clock tower (Ghanta Ghar). Two sites of pilgrimage are also present here – one is Vindhyachal and another one is Kali Khoh. Therefore, investing in hotels and restaurants might also be worth your money.

Commercial Real Estate Investment Opportunities in Mirzapur

Here are a few commercial localities in Mirzapur that might be worth investing in: 

• Barkachhakhurd

It is a village in Mirzapur which is close to multiple industries and affordable commercial lands. The nearest airport is Lal Bahadur Shastri Airport which is only 50 km away. Besides the airport, other travel options are also available here. Rate of commercial property here may range around ₹5 lakh.

• Chunar

It is a town located in Mirzapur. This place is well known for its tourist attractions like Chunar Fort. Some old temples are also situated here. This place has ample amenities available; it is also well connected to the Chunar junction. Rate of property here might range something around ₹4,624 to ₹5,133 per square foot.

Also Read: Guide for Karnal Commercial Real Estate Investment

Things To Consider Before Buying a Commercial Property in Mirzapur 

Here are some of the points that you should keep in mind before opting for a commercial property in Mirzapur:

• RERA Authentication

Before opting for a property, it is important to check the authenticity of both the builder and property. You can do so by visiting the official portal of RERA Uttar Pradesh. 

RERA, or the Real Estate Regulatory Authority, is a statutory body that promotes accountability and transparency in India’s real estate sector. This body was formed after enactment of the Real Estate Regulatory Authority Act of 2016.

• Check Layout Plan

As the layout of a property has a major impact on operational efficiency, it is important to check it before purchasing a property. Check whether it has received approval from all concerned authorities so that you do not end up making any incorrect investment decisions.

Stamp Duty in Mirzapur

Stamp duty is a tax imposed on sale of property or property ownership by the state government. Here are the rates of stamp duty applicable in Mirzapur:

Registration Charges in Mirzapur, Uttar Pradesh

It is mandatory to pay registration charges if you wish to legally own the property you purchase. Here is the rate of registration charges applicable in Mirzapur:

Mirzapur Commercial Real Estate Sector: What’s the Forecast?  

The present Uttar Pradesh government aims to transform the real estate sector of Mirzapur to achieve its economic goal. According to the estimations of state government, the real estate sector of UP will receive investments worth ₹7.3 lakh crore in the coming years, a major part of which will be diverted to the development of Mirzapur’s real estate. 

As per the survey reports, contribution of real estate sector to Uttar Pradesh’s GDP is 14.4 % in the year 2020-21. Therefore, Mirzapur has immense potential when it comes to contributing to the development of UP’s commercial real estate sector.

Commercial Real Estate vs Other Asset Classes 

Following is the comparison between commercial real estate versus other asset classes: 

Commercial Real Estate vs Residential Real estate

Commercial real estate offers higher returns in comparison to residential real estate. As lease agreements of commercial spaces are for a longer term, it is more secure than residential real estate, which has frequent changes in tenants.

Commercial Real Estate vs Gold

Gold is riskier in comparison to real estate because there’s always the fear of it getting stolen. Gold is apt for both long term as well as short term investments; however, real estate investments tend to offer considerable returns in the long term. 

Commercial Real Estate vs Stocks & Mutual Funds

You can start investing in stocks with a very small quantum of investment in comparison to real estate. Real estate is, however, comparatively secure because the returns from equity-oriented investments fluctuate based on market returns. 

Commercial Real Estate vs Bonds 

Bonds offer stable and fixed returns, while real estate offers much higher inflation-beating returns. However, real estate requires a high quantum of investment. 

If you want to invest in bonds and get assured returns, register on our platform today and start investing in top-rated bonds available in the market. 

Here is a tabular representation of the comparison between different asset classes on the basis of returns, liquidity, risk, volatility and ticket size:

Steps to Invest in Commercial Real Estate in Mirzapur

Here are the steps that you can follow if you wish to start investing in commercial real estate in Mirzapur:

Step 1: Fix your investment budget. 

Step 2: Come up with a list of locations that suit your requirements. 

Step 3: Once you shortlist a few locations, plan a field visit to each of them to assess them in terms of infrastructure, amenities, etc. 

Step 4: Once you finalise a location, prepare the necessary documents like sale deed, agreement, tax receipts, building plan, etc. 

Step 5: Complete the payment process. Make sure to pay the applicable stamp duty and registration charges. 

Step 6: Lastly, consider purchasing an insurance policy for your property to safeguard yourself financially. 

Read More: Guide for Amarnath Commercial Real Estate Investment

Final Word 

Investing in commercial real estate might be quite profitable in Mirzapur, but you also must be prepared for any type of complications. Commercial properties like factories and warehouses are very prone to accidental damage; hence it is ideal to safeguard your finances by opting for property insurance. This insurance will help you deal with the damage by offering financial aid.

Frequently Asked Questions