Monday, 13 October 2014

Plots in Patna

Land For Sale in Patna

Till 1980s the only way to invest in Property in Patna was buying a plot in Patna or buying a piece of land in Katthas or Bighas in Patna. The buyers mainly belonged to middle class working or business class and the sellers were largely farmers. Then came the housing co-operative era and large plots in Patna were acquired by them and then redistributed to buyers in 2 -3 kattha plots. It gave rise to 10 feet -15 feet roads in residential colonies in Patna. The gains for people who invested in plots in Patna in mid 1980s (say 1985) is in tune of thousands becoming lakhs. A plot in Patna of one kattha if was purchased for Rs.10000/-(rupees ten thousand) in 1985 by 2010 it was priced Rs.25 lakhs (rupees twenty five lakhs) in any corner of Patna. In 25 years Patnaites were able to convert Rs.10000/- to Rs.2500000/- A gain which will bring smile to anyone and everyone face. We should not forget that we are talking about an area of the world where the earning avenues are minimal, a non- industrialized area of the world dependent on agriculture and monsoon. To add to its woes the state of BIHAR also missed the INFORMATION TECHNOLOGY wave of 1990s in India.

In 1980s only; the people of Patna realized that the horizontal expansion will not last very long. One reason was that the state government had given up urbanization as an agenda from mid 1980s. Not a single planned colony since then has cropped up in Patna with government supervision or land acquisition. The government in-action and the need of the hour brought the APARTMENT culture to Patna in mid 1980s. It was a paradigm shift. Patna in last 30 years had become a center of Apartments in every nook and corner. 3/4/5 storey apartment in Patna, in any lane of Patna 10 to 15 feet wide cropped up. There was no one to watch. The land prices in Patna were soaring and the middle class started building its nests vertically in Patna. Patna destined to become an extended village with Apartments.

With advent of AIIMS Patna and IIT Patna government acquired large chunks of land and these areas of Phulwarisharif and Bihta received the stimulus. Buying plots in Patna is making a comeback. The Apartments too are gaining momentum. The Co-operatives of yesteryears have transformed in Developers in Patna; Colonizers in Patna and Builders in Patna. The 10feet – 15 feet road is now becoming 20 feet road in more sober cases. History repeats itself; this time 5 feet wider lanes for colonies in Patna. The colonizers in Patna still are not talking about water supply; drainage; sewerage; landscaping and road or say lane maintenance and electricity supply facilities; even though 30 years have passed.

“Patna real estate crawls but prices soar” explains the property scenario in Patna aptly. Real estate in Patna still means land and flats. Maintenance and amenities are still absent or exception in Property in Patna.

Land for Sale in Patna

No comments:

Post a Comment