The primary advantage of going in for a resale flat in Patna would lie in buying a home in a strategic location where no new supply is coming in. If one has personal cash resources at one's disposal and is not reliant on a home loan (a home loan on a very old property cannot be taken for granted), buying a home in a project that is 30 years or more in age can be a good investment bet in Patna if the residential property is in a strategic, high demand location with low or no new supply. This would mean that the project would come up for redevelopment, ensuring a tidy profit to the owner.
Are Resale Properties Always Cheaper?
Not necessarily. In
Points To Note
There are certain challenges that a buyer of a resale flat may face in
There may also be additional expenses for repairs to masonry, plumbing, electrical wiring and fittings. Obtaining a home loan for a property which is anywhere close to 50 years of age can also be a challenge.
Finally, one should bear in mind that the Patna residential property market is in a constant state of evolution. One is unlikely to find the facilities and amenities that are available in the newer projects in the