Any land that does not come under the residential property is called as a nonresidential land. It can be listed under the nonresidential land. First residential land means that the land you use in order to build a home for yourself or you need to build a home fo occupying the tenants and generate an income flow out of that. Daintree Residence is an example of residential property.
Also, the undeveloped land is technically called the nonresidential land. Only a land., plot, or areas can be called residential property is it is concentratedly used for residential purposes. But any undeveloped land can turn into residential land very soon. These types of barren lands or undeveloped lands are usually turned into residential lands by supporting the construction of educational institutions, medical care, rehabilitative facilities, maybe a hotel, or even for agriculture. Maybe even for constructing a factor amd ao on. These can also be called as nonresidential lands.
Based on this purpose the nonresidential lands are classified into many other types. They would include Industrial land, commercial land, and agricultural lands.
- Industrial land
When the undeveloped land is used to construct or develop a factor maybe even an assembly line for the manufacturing it is termes as industrial land. Industrial lands are the highest investment in nonresidential lands. Cities and the towns often separate different types of lands specially allocated for the areas of parcels or for the constriction of industries. And one common thing among the industrial lands is something that these lands are often found at the outskirts of the city r the urban landscape. The industrial lands mostly occupy the outskirts in order to avoid conflicts among the business and the local people. And also, these industries are customed to release it toxic air and landfills therefore there is a huge number of people who are against the industrial companies coming into the area pdf accommodation of the local residents. The use industries are mostly manufacturing, warehouses, light manufacturing, and also may be research and development labs.
- Commercial land
The central business offices that are found in the urban spaces and in the cities are mostly built in the commercial lands, Some lands are specially allocated by the government for the purpose of the commercial development. Thee kind of commercial properties are basically located in the city center and also these lands are occupied in a place where the transport facilities are easily available. The residential property will have ow return on investment and the return on investment might also be slow. But whereas the commercial properties have a high return on investment and also tend to grow more factly when compared to the residential properties. But the thing is that commercial properties are high-risk properties. Commercial land is often differentiated or segregated into primary type, secondary toe, and the tertiary based. This will depend on the distance of the property from the transport or to the center of the city. If you are looking to buy any commercial property make sure that the location is at the city center and is very easily accessible by the people.