Commercial vs. Residential Property: Legal Differences
Commercial and residential properties have different legal requirements. Here are the key differences:
Residential Property
- Used for living purposes
- Lower registration fees
- Tenant protection laws apply
- Restricted business use
- Lower GST (1% or exemption)
Commercial Property
- Used for business purposes
- Higher registration fees
- Different lease regulations
- Multiple business uses allowed
- Higher GST (5% or 18%)
- More flexibility in terms
Key Legal Differences
- Zoning restrictions differ
- Rent control laws vary
- Deposit amounts differ
- Tax treatment differs
- Eviction procedures differ
Key Point
Ensure property classification matches intended use to avoid legal complications.
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