In Patna real estate market there
is invasion of realtor's and developers working in metros of our country. Most
of them have their branch offices or some other form of operational
establishment in Patna. The bug does not stop here and many well established
home grown builders in Patna have begun digging foundations in other parts of
our country. Is this a story of the High
net worth Individuals making a flight to metros? It would be heartening for the
growth story of Bihar. Unfortunately it is not limited to HNIs but the middle
class Patna dweller is taking the lead in this flight. The reasons are plenty;
but one which occupies the center stage is the plight the real estate Patna is
in from last two years or so.
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| BUY SELL RENT PATNA |
The Bye- laws have seen the light
of the day, almost. Implementation is to be watched. The master plan for the
city is still under covers, how long it will take, no one can guess or
estimate. As the uncertainty circumvents the expansion of Patna, the prices in
real estate Patna has sky rocketed. The race to be in the center of the city
which is the area with all infrastructures for living has skewed the demand
supply line, resulting in unbelievable prices. In central Patna there is no residential
space at less than Rs.5000/sq.ft. In
this price you just would fetch a residential unit with no amenities apart from
a lift, power back and security. The quality of living has not entered in the planning of developers in Patna. Green areas are till date a NO, NO in Patna real
estate.
With better amenities and more
quality, the builders in our country are attracting the middle class from Bihar
as buyers. With migration in our history, the Bihari gentry have no second
thoughts in moving out of the state. One wonders that for how long the state
exchequer can bear this flight and the real estate Patna will be in Plight.
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