Thursday, 14 February 2013

A New Trend in Residential Projects in Patna in 2013

Buy Sell Rent Patna

“Apartments in Patna to township in Patna”.A marked change has come in new launch residential projects in Patna in 2013. Patna’s developers and builders are launching townships and not small 20 -40 apartments in a residential project in Patna. No way, are we telling that small projects consisting of 20-40 units are not being launched in housing Patna but they are giving way to larger residential projects in Patna now. Yes, many of the projects launched in 2013 in Patna are talking to be spread in ACRES. They are townships with all the basic amenities for a quality middle class living within the campus. These amenities include about 50% open green area, children’s Park and play area, swimming pool and club, shopping complex, playschool, hospital and many more depending on project to project basis in Patna.

The trend therefore is that the housing area in Patna is expanding. Naturally these bigger  residential projects in Patna are located on the periphery of the existing city. The advantage still is that we are a small city of 100 square kms till now and these expansions too are not taking place very far away from railway stations, airport and other such facilities. They are within 8 to 10 kms only at maximum. Patnaites have been long devoid of a lifestyle now becoming common with urbanization in India.  It would not only improve the living conditions of the middle class in Patna but also improve the landscape of the city Patna. Patna desperately needs planning and execution on the real estate front. It seems Patna needs to follow the Gurgaon way minus the mistakes made in Gurgaon. Gurgaon stands apart as a city solely built by private builders and the government at best acting as facilitator.

With the advent of large residential projects in Patna, it is not only the lifestyle of residents of Patna would see a sea change, the real estate Patna would move a step further. It will not only demand new construction methods and cost efficient ways from the builders but greater role of marketing in real estate Patna. The one to one marketing of units in a small project will give ways to larger marketing budgets. A major developer would need sufficient marketing channels to maintain adequate cash flows for completing the projects on time and profitably. It would also require in-depth research and analysis of the area and the population. Real estate consultancy would therefore in true sense enter the Patna real estate market. Another area to benefit with such development would be facility management in Patna, which till now seems to be confined to house keeping for corporate in Patna.

The government only needs to complete the ongoing and proposed road projects in and around Patna on time. The four lane ring road as proposed around Patna, if completed would be the single largest booster for large residential projects in Patna. To add to the road infrastructure if the state governments implements the master plan for Patna the sooner the better it will be for the real estate Patna. We hope that 2013 marks the advent of a new era in Patna housing sector. The urban development and the growth of real estate is must to accelerate the growth of Bihar; with a population of more than 11 crores Bihar needs world class cities at least 11 in number!!!


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