Sunday, 20 January 2013

Property management services in PATNA.

buy sell rent Patna

Time was when people were unable to put their real estate assets in Patna and Bihar to better use. While some Biharis cursed the archaic provisions of the Rent Control Act, others, particularly NRBs(non resident Biharis) who are away from home town Patna for years together, could not utilize their assets to earn return on investment in Patna due to fear of not getting their real estate or property back in Patna.
In a paradoxical situation, while residents in Patna are unable to get rental accommodation at affordable prices in Patna, apartments in Patna were simply locked up without letting out due to lack of professionalized organization to manage the property in Patna in the absence of owners. With Bihar and Patna on the threshold of a new era, real estate companies in Patna specializing in facility management are eyeing the potential surrounding the property management sector in Patna.
Demand from local and NRB (non resident Bihari) market

Property management concept is nothing new under Patna’s conditions but so far it was confined to a few companies only extending the services for corporate sector in Patna. But on the retail client's front, not many efforts were taken due to a combination of factors. Today, there is a demand for property management from apartments in Patna. This is because the demand not only emerges from NRBs (non resident Biharis) but also from residents who are migrating to other states within the country in search of better career opportunities. So the need for such service increases when they invest in housing in Patna and are compelled to shift to another city.


Comprehensive services

According to industry sources, a few companies are already in operation in Patna. The competition and demand in Patna is not much today but with the passage of time, more real estate companies in Patna are likely to enter the fray. The comprehensive range of services provided by property management companies in Patna real estate and around the world varies from preventative maintenance, placement, contracting, response maintenance, signage, commercial cleaning, pest control, annual maintenance contracts, health and safety.
For global Biharis or even for Patnaites working in other cities within India, leasing, remittance of statutory dues and other related areas necessitate services from the property management companies in Patna. Industry experts feel that the growing importance of property management services should be realized not only by the end users but by property developers and architects as well at the implementation stage itself in Patna. This will enable them to better understand the intricacies involved in the maintenance exercise. Till now the word maintenance has been kept ‘aside’ in housing in Patna.
For instance, if the top and edge of the building in Patna is not constructed in a way that can support appropriate movement for cleaning services, then it brings untold agony to both, feel experts. According to market sources, the rate for property management in Patna varies depending on the building, area and type of services required by the clients in Patna. Besides maintaining the building, property management companies in Patna are now extending their services even for resale of existing units and providing architectural designs. The scope of services may get enlarged further. There are better days ahead for investors in real estate in Patna to buy sell rent their property in Patna without the need to solely depend on relatives and/or friends in Patna. This will also encourage more people especially NRBs who are awaiting an opportunity to invest in specific real estate category in Patna to earn periodical income on investment.
Add-on value to buildings

Additionally, there is a growing realization among the investors in Patna about the add on value accrued to a well maintained building in Patna. Even the resale of apartment in Patna is enhanced in a project managed by professional agencies in Patna. With the growing number of residential and commercial projects engulfing Patna, demand for property management services in Patna can only go up. Property developers should also realize the need for facility management services, as it is their reputation which is at stake if their project is not maintained well, say property management companies in Patna. As developers cannot undertake such services beyond a particular period after the completion of project, there is an increased need for independent and professionally managed companies providing exclusive services in Real estate Patna.