Friday, 13 December 2013

Elections and real estate in Patna

Buy Sell Rent Patna

What can you hope for with elections around the corner in real estate Patna? Like all other industries, the real estate industry in Patna is equally excited and nervous about the scenario post elections. Only time will show whether the property market in Patna will remain intact and grow or experience a change for the worse.

The Elections have just been conducted in the five states of our country and the results are encouraging for the opposition in four of the major states. The speculation market is flowing with who is going to form the government in 2014 and what will be the future for the next five years. Like all other industries, the real estate industry in Patna and in the whole country is equally excited and nervous about the scenario post elections in 2014. Only time will show whether the property market will remain intact or experience a change. But till then, is trying to bring you an analysis based on the trends in real estate Patna.

The two scenarios after the General Elections are that the existing Government will be re-elected or the new Government will be elected. In both the scenarios there ought to be certain economic changes in the existing real estate market. Moreover, it is a known fact that the property market is highly aligned and affected by the economic and financial health of the country.

Impact of Financial Market on Real Estate Patna:

The investments of the country: securities, stocks, trade and exchange rate markets come under the financial markets. They control the wealth of a nation and its citizens which in turn affects the investment in real estate. A change in the politics, even if the Government remains intact, might change the foreign investment policies of India and that will impact the way investments are made thereafter. The policies will be reformulated and it will impact how investments are made in Real Estate Patna.

 Impact of Economic Market on Real Estate Patna:

The interest rates and policies formulated by the Reserve Bank of India mainly head the economic market. This directly impacts the interest rates at which the loans are available. Although the interest rates are controlled by an independent body, RBI; the economic policies are synchronized with financial markets. Therefore, the market will directly or indirectly affect the property prices in Patna.

Should you buy a property during election times?

 The democratic phenomenon takes place every 5 years in India. A grand amount of money is required for elections; at times it is seen that for raising the money certain properties are sold below market rates to generate sufficient cash for elections. It is also highly likely that the builders and developers in Patna cut down on new launches of projects and solely focus on selling the existing inventory.   Therefore, for the end-users, it is possibly a good time to invest in property in Patna. One can focus on buying from secondary or resale market so that he/she might come across an opportunity to buy at lower rates. The homebuyers can also try their luck at negotiating hard with the developers in Patna when buying directly from the developer in Patna.  Since developers’ main focus is to clear the existing inventory, there is an opportunity with the end user to bargain hard and get substantial discounts/ freebies on the property in PatnaFor sure there will be changes in the real estate scenario in Patna but only time will tell whether the changes will be positive or negative.

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