It is necessary to obtain permission from the municipal office to convert the residential property to the commercial property. After the property has been marked as commercial property, it would be taxed as a commercial one for all intents and purposes.
Can residential property be used for commercial purpose?
If the zoning rules and the housing society management rules allow it, you can use or rent your residential property for commercial activity. … Once a property is marked as commercial property, it would be treated as a commercial property for all purposes, which includes paying more as property tax.
How do I convert residential property to commercial property?
Process to convert residential property into commercial property:
- Visit the local municipal authority of your city.
- Apply an application to the municipal officer for the conversion of residential property into commercial property.
- Provide the details of your business such as company registration documents, company ID.
Can I run a business from a residential property?
Whilst conducting business from an apartment is not strictly illegal, you should be weary of strata by-laws. Usually the by-laws will prohibit any business being conducted on the premises except for the resident manager’s business.
Can a residential property be used as godown?
No you cannot use basement of a residential property for godown purpose. Ground floor also cannot be used. … If you will use a residential property for commercial purposes it can be sealed.
Can I use residential address for business?
While it is perfectly legal to use your home address as your Registered Office Address at the time of your company formation, you may decide at some point in the future to change your registered address or any of your other business-related official addresses, such as your Service Address.
Can I use my flat for business?
It is legal, provided that you ask for and receive permission in writing from the landlord (in this case the council).