Patna: - New Trends in real estate

To make a significant difference and change in the upcoming housing projects in Patna, a lot more than just design is required by the developers and builders in Patna.

That extra something is, time, local know-how and the want to achieve excellence. The idea is to build a project where Patna housing standards get bench marked. At least if people have money to pay, they should get the real estate for their money’s worth. This kind of real estate and commitment in Patna is required to change the trend in residential real estate market of Patna. Not just Patna but all of Bihar is going to benefit from this shift in thought and delivery.

With shady land acquisition cases, extremely high land and property prices in Patna and a general lack of civic sense in Bihar, most commercial office buildings are in a bad state in Patna. The construction is okay but there are problems with the design and more importantly the upkeep of these commercial properties in Patna. The amount of filth, overcrowding and misuse of available space has turned most commercial buildings in Patna into nightmares. Therefore contemporary builders of Patna need to realize this fact and try their level best to change the real estate “CHALTA HAI” perception by building better real estate. The better real estate comes at a cost. Additionally it requires a different line of thought. The average builder in Patna cannot envision the change.

Bihar has changed for better. Yes, there is still a long way to go but the business and living environments are much better now than a decade ago. People never imagined in the past that one could live and conduct so freely in Bihar.

The change in Patna’s real estate is essentially the beginning of the change in Bihar’s real estate. Already some of these good trends of building better real estate have started showing up in Muzzafarpur and a few other cities in the state. Anything good we think is contagious.

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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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