Thursday, 3 August 2017

THE DNA OF PROPERTY BUYERS IN PATNA REALTY MARKET.

"नहीं, भइया बोले की रेट फ्लैट का ज्यादा है ! आठ साल से भईया हमारे इसी इलाके मैं रहते हैं !! आला अधिकारी हैं गवर्नमेंट में ; सारी जानकारी रखते हैं। ...... 

Property buyers in Patna evaluate a lot of things before taking a plunge; and we respect the time and effort that they take in taking the LIFETIME decision.

In addition to serving the basic need of access to a decent accommodation, many property buyers in Patna also evaluate the economic benefits (such as saving on rent and capital gains) a property in Patna would deliver. Thus, while property purchase decision may or may not be out of necessity, the financial aspect is largely the driving factor behind a property purchase decision.

Other important consideration of home buyers in Patna apart from financial is the number of their relatives or friends or in local parlance; परिचित in that particular location.  We, Biharis are really social, though it is reducing with time and nuclearisation of our families. But still reference plays a large role in Patna property market.

The lady of the house plays a major role in Patna in buying FLATS particularly, not so much in land or commercial properties. It is also helpful if the children have their friends residing in that particular neighbourhood.” 
मम्मी मेरी बेस्ट फ्रेंड भी बगल वाले अपार्टमेंट में रहती है !!!  The children are very important in our nuclear families. As the lady and children are gaining bigger roles the Kitchen and Balconies are becoming deciding crucial factors.

The easier access of native village from the part of Patna where they are purchasing the flat too is important. The people from आरा , छपरा  will prefer western Patna, whereas people from नालंदा , बिहारशरीफ  will prefer Kankarbagh side of Patna. “हमलोग अभी भी गांव से जुड़े हैं !!”

The ATTITUDE of builders and their Accessibility is very important for home buyers in Patna. Gone are the days that the home buyers are ready to wait to meet to builders. If it is the manager only interacting with the buyer ; the buying probability reduces. "बहुत घमंडी है , छोड़िये इसको, दूसरा फ़ोन कर रहे थे। ....  

Yes the time has changed and buyers love humble, simple professional builders. No धिकावा will work that the builder is busy, they know you are on facebook…..or  गप  मार रहे होंगे , काम क्या है …

We think and hope that the transformative reforms such as Real Estate (Regulation and Development) Act, 2016, Prohibition of Benami Transactions Act, 2016, and Goods and Services Tax (GST), etc. will lead to higher transparency and efficiency in the real estate sector. Going forward, property buyers in Patna would be more confident while investing in real estate. Let us see what Property buyers look for in Patna real estate market.

The decision of a buyer to purchase a property competes with numerous other investment opportunities, such as gold, stock market and bank deposits. Real estate is amongst the most preferred asset classes for Bihari investors and it is estimated that real estate accounts for about 40 per cent of total household savings in Bihar.


With the availability of multiple units in Patna real estate industry, property buyers in Patna can now make an informed decision to help them take full advantage of their returns from residential properties in Patna.