Saturday, 9 March 2013

INFRASTRUCTURE AND BASIC AMENITIES WILL BE THE MAIN TRIGGERS FOR RESIDENTIAL GROWTH IN PATNA.



BUY SELL RENT PATNA

The reasons for investment in Real Estate Patna are mostly constant, but the situation is always dynamic. The reasons for property in Patna to appreciate can be varied, we saw a great increase in property prices in Patna when the law and order situation improved in Patna in the present regime but the fact remains that development of basic amenities and infrastructure are the biggest drivers for Patna to emerge as a winner in the future and the long run. 
Every city that has witnessed an interest in improving the “livability” factor of its residents has been rewarded by growth on all fronts. Patna would not skip this rule either. Satellite townships around all major metro cities are prime examples of planned and sustained growth, both for end-users and investors. There has been a clear upsurge in demand in the residential sector in Patna.

The economic slowdown has brought greater rationality to real estate prices in Patna and the government has displayed intent in developing the infrastructure and quality of life. Vital public infrastructure is the greatest driver for the development of any vertical in the real estate sector in Patna since good infrastructure, especially “Connectivity” leads to mushrooming of residential developments which in turn will create a ripple effect for development of other commercial segments including office space, retail, hospitality, health & entertainment in Patna.

Whatever infrastructure has been developing/developed in Patna has invariably set off real estate activity in the vicinity. The other drivers for real estate in Patna are the work & play aspects. With the “Mall” culture being slowly accepted as a way of life in Patna and the introduction of major brands – both international & domestic, discounts, competitive pricing, varied options, organized events and other entertainment options, the retail segment has definitely become a major commercial market driver to contribute significantly to the revival process in the real estate industry in Patna.

Changing lifestyles, increase in demand for branded products, favorable demographic patterns, increasing consumerism in Patna and an upswing in rural consumption has and will continue to fuel real estate growth in Patna. Communities can be shaped by choice, or they can be shaped by chance. We can keep on accepting the kind of communities we get, or we can start creating the communities we want through the power of our investments in Patna by both the public and private sectors.