Skip to main content

Real estate Patna dreams

Real Estate Patna
Would you like Patna to be a green city with 24×7 potable water in the taps, smooth roads devoid of potholes, lined with pedestrian and cycling tracks and efficient public transport catering to a slum-free housing stock and as clean as your home from inside? Are we dreaming! It is possible and very much possible.
The new round of urbanization in India which has being initiated by the announcement of 100 new cities in India as agenda for growth can help us in Patna realize the real estate dream in Patna. Many countries around the world see the announcement of 100 new cities in India, as an opportunity to participate in this dream run for real estate.
Singapore sees it as a great opportunity for it to forge partnerships with Indian cities, drawing upon Singapore’s own lessons on building infrastructure and water issues. Is the urban development department of Bihar listening? Are they ready with plans! Singapore is ready to share what it can, is Patna ready to share and execute their experience.
So what exactly can Patna look forward to?

While the new government is talking about 100 new cities along planned infrastructure and growth corridors, there is also the addition vision of a home for every family by 2022, the 75th year of Indian Independence. This includes retrofitting existing homes to make them liveable, creating new housing stock of different denominations to service all and also to make more land available for planned development.
Housing and urban infrastructure are considered a unified whole. What will work in Patna is partnership between national and local governments and the people. Its time for politicians in Bihar to plan, followed by focused regulation and an economic benefit that pushes markets to follow these.
Patna will become safe when everyone has easy access to nature. We will be able to create an attachment to nature in a way that drives responsibility of proportion of nature in people of Patna. This will be true public private partnership.
Now think of housing in Patna. If planning interventions can convert the view of sewage-filled drains to connected clean water channels, would you not get more value for the property investment in Patna, through better leveraged value and enhanced rental returns?

Are we dreaming or is it possible……………..

Comments

Popular posts from this blog

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