Emerging real estate trends In Patna 2013

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Today, the real estate industry in Patna has become one of the major investment sectors for the residents of Bihar and NRBs (non resident Biharis). This industry is playing an important role in the formation of the Bihar’s economy in the present economic situation.

There are various developments and elevations which are taking place in the real estate sector in Patna with more number of apartments in Patna and owning to this, real estate is growing on a fast pace. Various factors are responsible for the growth of real estate sector in Patna. A key factor for the development of real estate in Patna is the kind of policies adopted by the state government to enable easy investments in the industrial and the economic sector in the state. In the past few years, the government of India has adopted a new stand regarding the foreign direct investment (FDI) policies which encourages other countries to invest in Indian properties. The passage of two crucial bills, Real Estate Regulation Bill and Land Acquisition Bill, in particular, sometime in the next few quarters this year will boost the sentiment of all stakeholders and herald a new order in the country's and therefore Bihar’s  real estate.

   The real estate in Patna is one of the major revenue generating sectors in the state. The growth of real estate    s  sector influences the economy of Bihar directly. Owning a property in Patna is one of the greatest assets  and is one of the most profitable investments in Patna.There is very less chances of a loss in the real estate. The growth graph in property investment in Patna is escalating day by day and the new trends will further escalate it.

     Factors that have and will accelerate the rapid growth of real estate in Patna;

The steady expansion and the development of the IT sectors in Patna will play a major role in the development of the real estate sector in Patna. The constant expansion of the IT sectors; MNC and corporate firms will give way for the growth of the real-estate sector in Patna; the commercial and residential sector. Apparently it will also provide better employment opportunities to the people of Bihar. The easy access to the bank loans has resulted in easy property investment. There are various      national and multinational banks in India which offer easy property loans; naturally this makes it easy for the property buyers even from the middle-class in Patna. The growth of the Bihar’s economy is one of the fastest all over the country and world. This factor directly influences the real-estate sector of Patna.

 

Apart from just the increase of the Bihari investors, there are also various NRB (non resident Bihari) real estate investors. The realtors in Patna have portrayed the property investment as an element of lifestyle and a splurge of luxurious apartments with beautiful commercial complexes and extraordinary retail ventures in 2013. This in turn has attracted the NRB potential property buyers. There is an increase in the number of NRB property buyers in Bihar who are planning to settle down in Bihar in future, as well. Ever since the real estate sector underwent a rapid upsurge, Biharis from various countries and states of India have been relocating here.

Why should one invest in Patna real estate?

·                                 The ever growing economy, increasing purchase power of people and demand for real estate sector.

·                                 Demand for millions of square feet for offices and industrial space. Increasing presence of number of renowned companies and a demand for office space in Patna.

·                                 Real estate in Patna creates huge returns. Also most NRBs are making a huge profit out of their investment in real estate in Patna.

·                                 Development in various other sectors like IT, ITES, BPO, auto-components, chemicals, apparels, pharmaceuticals, jewellery, food processing and agriculture based industries will  in turn attract more investors in real estate Patna.