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The accelerated growth in real estate sector is considered as a crucial factor behind over all development of any country. Dynamic land use patterns and its multi diverse practices enabled the economic growth more vibrant than the previous decade. Both residential and commercial properties are more in functional practice to facilitate rapid economic growth of the country. Moreover the development of commercial properties has played a major role in our GDP growth in recent times.
Commercial property is any type of property that is commercially used to derive profit. The main focus of commercial property is targeted towards business and economic activities. Commercial property always intended for business purposes and revenue generation. Commercial property is a special real estate designed for institutional, industrial and commercial activities. Commercial properties include wide varieties of real estates specially used for business or industrial activities. All types of office buildings, apartments, shopping malls, commercial centers, warehouses, distribution facilities and institutional buildings are come under commercial properties categories. Real estates useful for scientific research and development activities are also termed as commercial properties. There are several major factors responsible for such burgeoning growth in commercial real estate sector. High growth in service sector and IT sector, increasing multi level economic activities and higher public-private participation in industrial sectors are some of the main factors behind commercial properties booming in India.
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