LARGE RESIDENTIAL PROJECTS IS WHAT PATNA NEEDS…..

Large residential projects in Patna

I have often wondered why developers in Patna concentrate primarily on smaller projects. After all, doesn't it make more business sense for builders to launch large township projects?

The primary reason that the builders and developers are going for small single residential project in Patna are following:-

- The developer's construction costs for smaller residential property developments is much lower
- They require a lot less land, and can be constructed in central areas where demand is high and we know land is really scarce in Patna.
- They can benefit from whatever infrastructure already exists in the locality, so there's no need to put in much more
- They can be constructed much faster and also sell much faster to a ready clientele who are looking for flats for sale in Patna.
- There was demand for smaller residential projects in Patna even while the recession was on in the country.

Tempting arguments in favor of small residential projects in Patna for sure-but they represent the small picture.

- True, township projects can only come into existence if the developer has considerable land parcels at his disposal. Even if he does, such land parcels are only available in areas at periphery of Patna, which is not near the city center.
- True, he must supply all the infrastructure and public utilities in such a residential project
- True, there is a 'wastage' of developable area because such large residential developments, by necessity, call for huge open spaces
- True, townships take a much longer time to complete than smaller, stand-alone projects

However, this is a limited viewpoint. It does not factor in the most pressing requirements on the Patna residential property market - regulated urban development. The fact is - a multitude of smaller projects disfigure the face of a location, put its infrastructure under tremendous pressure and are usually overpriced because of 'location value'. One look at the current property rates in Patna will confirm this - what you pay for in location, you lose in comfort and convenience.

In sharp contrast, well-planned township schemes beautify, uplift and give value to a new location. Not only do they bring in their own infrastructure - despite being on the outskirts, they also provide residents with all the benefits and comforts of a more centralized location. The vast open areas provided in such residential projects are not wasted space - they are what spacious, dignified living is all about.

There is more. Because integrated residential projects have their own retail outlets, office complexes and entertainment facilities, they reduce commuting and transportation time and expense. In fact, they inject life into a new location and raise its value on the real estate market. What smaller residential project in a city like Patna can offer so much to its residents within a single location? Township developers focus on such residential developments because they positively transform the landscape and uphold all precepts of sustainable development.

The new generation of large township projects in Patna with modern, fully-equipped and self-sufficient residential projects will make them affordable to the middle class. No longer are such properties available only to moneyed HNIs and NRBs (NON-RESIDENT BIHARI). Thanks to this, even salaried individuals can buy homes in projects that offer well-defined living spaces, recreation facilities, office complexes, convenient retail establishments and a superior standard of living. These projects in Patna would offer ultimate value for money.

This leads back to the original point!! In a city like Patna, townships make more sense than smaller projects because they are the most modern and sustainable model of urban growth - and to a better way of living. To own a home in one of them is an assurance of a lifestyle that cannot be replicated elsewhere in a crowded city.

Developing such a project is more than a business proposition - it is an opportunity to contribute to the future of the Patna city's real estate market.