Types of Properties

 

Real Estate can be classified into three distinct categories. One category is Residential and the others are Commercial and Retail Category. Today, we will deep dive into these two different categories and understand these properties.

Residential:

1. Single-family homes: These are the homes where one family resides. They can also be categorized as independent villas or homes.  

2. Multi-family homes: Here, more than two and up to 12 families stay together.

3. Gated societies: Gated societies are nothing but communities which houses more than 200 apartments.

4. Nursing homes: These homes serve a particular purpose. They are catered to the senior communities who will be requiring assistance in their daily lives. These societies are equipped with a community hospital and 24/7 doctor service. 

5. PG buildings: These are paying guest accommodations where guests share rooms with others and rent them on a long term basis.

6. Co-living communities: Co-living property is a residential category in which various services are shared among the community. These properties have majorly three types of flats i.e. single room, Studio Rooms with kitchenette and one-bedroom apartments. Community kitchens, swimming pools, party halls, sports facilities are also provided.

Commercial:

 Office spaces are again subcategorized into different grades. 

1. Grade A: These office buildings are mostly LEED Platinum and gold standard properties. They are designed in a very efficient manner so that these spaces will consume less electricity and release fewer greenhouse gases. Grade A rental rates are typically higher than the city’s average rents, and tenant concessions, such as reduced fees or consent to sublease, are rare because the premier space is competitively sought after. Offices in these buildings are often popular among high-profile, white-collar companies, such as financial institutions and law firms.

2. Grade B: These are considered decent as far as office spaces go. These buildings usually don’t have the same high-quality fixtures, architectural details, and impressive lobbies as Grade A spaces, but they are generally nice structures with fully functional facilities. Class B office space tends to command "average" market rent. The majority of Grade B buildings are fewer than four stories tall and are often found in the suburbs or on the edge of large financial districts

3. Grade C: Grade C commercial office spaces are the poorest-quality structures on the market. They tend to be located in the least desirable areas of cities and are usually in need of major repairs or a complete renovation. The need for significant repairs or upgrades is typically the result of the building's age, as Grade C properties are generally more than 20 years old.

Retail :

The scale and form of retail buildings differ considerably, as do the constraints on their construction. Retail is sub-categorized into the following ways:

1. Supermarkets: Supermarkets are traditionally in the form of single-storey long-span construction, their internal layout is driven by the target market. Externally, the location and visibility of the store entrance and its relationship with parking and public transport are very important. As just-in-time logistics become more common, the location, size and operation of the goods yard, which is key to the efficient operation of a store, need to be carefully considered, particularly on restricted sites.

2. SuperStores: Superstores are generally located in suburban areas and are generally in the form of single-storey buildings, sometimes with mezzanine floors. Superstores display many of the features of supermarkets but are generally of longer span and have a much lower proportion of ‘back of store’ facilities.

3. Shopping Centres or Malls: Shopping centres in city or town centre locations are major building projects and are often the result of major planning decisions to improve the vibrancy of the area and to bring shoppers into city centres from competing out of town retail parks. The nature of these projects is that they are multi-storey, and often 4 to 6 storeys high, and have expressive features such as entrance areas, atria, lifts and balcony walkways.

Real Estate is the best asset class one can hold and reap benefits from it. The value of these assets will always increase and have the least risk associated with them. Onix advisors and Onix Property Management, a Bangalore based real estate advisory firm will help you in buying the best real estate across the country. We have a team who are highly efficient and carry 30 years of combined experience in the field of real estate. You can reach out to us M:+91-9108447826.