Integrated townships around Patna; what to look for?

In our last article on this Blog we advocated the requirement of integrated townships around Patna. In this article we are highlighting the details required to be looked into by the home buyers in Patna before participating in any such project. There are a number of things that one must keep in mind before investing in an integrated township in or near Patna. The title of the land and other regulatory issues need to be studied carefully. These are huge projects in terms of area and therefore money involved and consequently requires a number of clearances and approvals.

Large integrated townships need to get approximately 30-50 regulatory approvals depending on the size and the location. It is very important that the developer has received all these approvals, failing which the home buyer in Patna will be unable to get deliveries of his residential units, apartments, flats and condos in Patna. Besides the title, one must look at the delivery credibility of the developer in Patna, the level of planning and detailing involved in the project in Patna, the typology of units and the basic facilities and amenities being offered and promised by the developer in Patna.

There are risks and limitations involved with the integrated townships around Patna that we at BuysellrentPatna are advocating. People should be aware of these risks and limitations that pertain to these integrated townships. An apartment in Patna in an integrated township is generally on the affordable side, due to the large volume and infrastructure offered. Also, such townships have a long gestation period. This means that the promised facilities are invariably not available to those who buy into an early phase. It takes time for the whole township to come to terms. In early stages therefore the home buyer in these townships around Patna may face bottlenecks. Here the planning by the developer in Patna plays the major role. How the developer has planned the different stages of project development really matters in such large residential projects. They also have very specialized maintenance requirements and mostly tend to be located in distant fringe areas. Therefore one should look at the connectivity options carefully keeping in mind the current and future requirements in mind.

Overall, however, if the home buyer in Patna is able to take these factors into consideration, integrated townships can offer the concept of convenience for residents in Patna. Better infrastructure, high security features, spacious environment and more room for green living makes them extremely viable as residential destinations. Moreover, with major facilities located in close proximity to each other, these can be a perfect answer to all our world class housing needs in Patna.

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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