Metro Rail and Patna's Realty Market

Infrastructure development has a significant impact on the property buying decision in Patna as well as any other part of the world. Whether a first time home buyer or a seasoned investor, all of us look for the growth in values of our property in Patna; we know that infrastructure development is a booster dose for realty values in Patna. One of the greater catalysts is transportation infrastructure. It has historically proven to have a positive impact on realty values in a city like Patna – residential and commercial properties in Patna located close to transportation infrastructure tend to command a premium. Independent analyses of pricing in many cities in India reveal that proximity to a metro station can single-handedly account for a 22% variation in land values, the other factors being location, distance of the land from the central point and income groups; we quote this as METRO is going to run in Patna in near future.

It is also observed that average areas gain popularity due to Metro and road developments. In Patna the real beneficiaries will be areas around AIIMS and further plus areas around Shaguna Mode- Shiwala. Additionally it will be Zero Mile –Pahari and Sampatchak Area. The old congested Patna will also get an opportunity to spread. The flyovers, the connecting national highways, better roads and Metro will reduce the travel time in and around Patna. It will also better lifestyles for average Patnaite.

The development of Patna- Bodh Gaya-Dobhi four lane, Digha- Sonepur rail cum road bridge, AIIMS Digha Elevated road, The marine drive project, Bidupur-Didarganj Ganga Bridge, Koilvar bridge, flyovers and the Metro; Each of these transportation infrastructure initiatives will have a tonic effect on the adjoining realty micro markets in Patna. The expected implementation of the metro rail will pump up redevelopment in older Patna and increase property prices in Patna by more than 100% in a short span of 4 to 5 years. The CEO of www.buysellrentpatna.in, Rakesh Ranjan, adds that among the series of mega-projects announced and implemented in the past one year for Patna, the Metro is the biggest so far. “The combined effect will reflect positively on Patna’s real estate market – the residential and retail markets will witness tremendous growth, especially those near the Metro stations,” says Rakesh Ranjan.

The new airport, satellite city like Bihta, and mushrooming schools and hospitals will not only benefit the present but also the future infrastructure plans for Patna. They will also continue to fuel the growth in the real estate sector in Patna. The cherry on the cake will be a little push on industrial and Information Technology front to boost the realty development and property prices in the western frontier. “The proposed infrastructural development will further strengthen the resolve of real estate developers in Patna to venture into these newer areas with housing and commercial projects,” says Ranjan.

Naubatpur; an ace investment destination for land buyers in Patna

If you want to put your money somewhere and forget about it, buying land in suburbs of Patna like Naubatpur could be the investment vehicle you’re looking for. Think about it: land is a long-term, tangible asset that doesn’t wear out and doesn’t depreciate. If you go into investing in land with the intent of holding the right property for the long-term , it can make a lot more profits than any other investment asset class out there. Buildings can be replaced and demolished, whereas land is a valuable and finite resource , with only limited quantities available. And Bihar has a population of 15 Crores and per capita income of Biharis are increasing in double digits. Land investing is for the patient, smart investor, someone who is willing to hold for the long-term or pass it on as a legacy. It’s for the investor who is looking ahead for 10 – 15 years. Land is a smart long-term hold, allowing you to win the benefits of rising values. Especially if you buy in an area like Naubat

Land Prices in Patna and Patna Real Estate.

Buy Land in Patna It is the rising price of land in Patna that keeps the price of real estate in Patna always increasing because the land price is the most important price factor in the real estate price in Patna. But at the same time land prices in Patna are also dependent or better say partially dependent on real estate developments in Patna. With rising real estate developments the land prices too head northwards. This very symbiotic relationship between land prices in Patna and development in Patna real estate is major cause of real estate bubbles in Patna. Yes, it is interesting to decipher whether it is high prices of houses in Patna that makes the land prices in Patna higher or is it high land prices that makes buying a house in Patna exorbitant. The price of property in Patna is made of material cost, labour cost, intangibles like location & brand, marketing and administration costs (for builders and developers in Patna), registration & stamp duty cost, tax

WHAT IS THE MEANING OF “AFFORDABLE” FOR HOME BUYERS IN PATNA?

A survey conducted by our company on 100 flats’ buyers in Patna found that two out of every three homebuyer in Patna s ank in more than 50% of his total savings into the down-payment itself for purchase of flat in Patna . Flats as investment vehicle is never attractive in Patna as rental yields are very low in Patna and property prices in Patna are elevated in many localities. The ‘ideal flat in Patna’ should provide the convenience without the compromises, be affordable and have great resale value. Since this is an elusive dream, home-buyers in Patna should focus on one or two items on their wish-list. It is important to find a good middle-ground between utility and affordability while buying property in Patna . For a middle class resident of Patna, AFFORDABLE means property in Patna under the Rs 50 lakhs bracket. Because the AFFORDABILITY measure = Ratio of EMI to Monthly income. A middle class family in Patna earns around Rs 75000/- monthly income ( ear

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