How road connectivity leads to real estate growth in Patna

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It is generally accepted that improved road connectivity is very important for real estate growth anywhere in the world and more so in Patna. Patna was deprived of any road development for almost a decade or so in 1990s. Most property brokers and real estate agents in Patna therefore make a big case out of an area's new excellent road network in Patna and how this improves the appreciation value of a proposed property in Patna. But how exactly does this phenomenon work? What is the real 'connection' between better roads and better real estate values in Patna?

Road Connectivity And Quality Of Life in Patna

Fundamentally, the creations of major roads in Patna have reduced vehicle travel by cutting down the distance that needs to be traveled between destinations. This has a direct effect on residents in connected areas of Patna. With shorter distances, people can comfortably choose to travel public transport or two wheeler  thereby cutting down fuel expenses. This also decreases noise and air pollution in residential areas in Patna.

Improved road connectivity also improves the overall safety of a neighborhood in Patna. This is because it becomes easier for emergency services such as fire brigade and ambulances to reach them. Likewise, it is possible for residents to reach hospitals faster - this can sometimes make a difference between life and death.

In Patna, the amount of time it takes to get to and from one's workplace is an extremely important consideration. By allowing the residents of connected neighborhoods to reach and return from their workplaces faster, the amount of time they can spend with their families’ increases significantly. The same paradigm applies to school-going children in Patna.

The Health'Connection'

Reduced travel time also reduces the incidence of various physical ailments as well as stress levels. Longer travel times give rise to higher exposure to traffic pollution and extreme climate. Several serious health problems such as deep vein thrombosis and lung infections have been directly linked to extended automobile travel on a regular basis.

Similarly, road rage and reckless driving are often the direct result of the traffic congestion caused by insufficient road linkages. Also, as road connectivity improves further, the shorter travel distances can encourage the use of health-positive travel modes in Patna.

The Personal Finance'Connection'

Ever-increasing fuel prices were once a concern only to the middle class - today, they have gone so high that even the more affluent classes are feeling the heat. Electric cars that can meet the travel requirements of a normal-sized family are still a distant dream. We hear that the metro rail too is coming in Patna, but it will take years as all other development projects. In the mean time, like it or not, we are dependent on fossil fuel-driven vehicles in Patna.

The magnitude of savings that are possible because of improved road connectivity in Patna must not be under-estimated. It is a known fact that the transportation expenses of residents in well-connected areas is lower; a lesser-known fact is that communities which live in areas without good road connectivity often spend between 10-15% of their monthly income on transportation alone. The figures rise proportionately to the number of vehicles the family operates.

The Real Estate'Connection'

These are the reasons why road connectivity has such a massive impact on real estate prices in Patna. Simply put, there is a higher demand for homes in well-connected areas in Patna because they equal an easier, safer, healthier and more cost-effective way of life.

In this context, the arrival of the Gola Road has become a game-changer for the Patna’s real estate market. Gola road has developed as road connecting western Patna from Bailey road near Patliputra railway station to Danapur –Bansghat road in Digha. It will also serve as connecting road to the Digha Hazipur Bridge over Ganga. The development of this road has completely changed the real estate landscape around this road. A large number of schools are located on this road, giving more meaningful lifestyle to residents. In Patna, Gola Road is a prime recent example of road connectivity and real estate development.