Real Estate humiliates humility

What is the image of a builder in Patna in the mind of Patnaites? Anything and everything but humble. We in Bihar no more respect HUMILITY, a virtue engrained in us for centuries. In Patna real estate, to prove that one has arrived a lot of “materialistic display” is wanting. Humility is equated as “someone without promise”.

A builder in Patna makes you wait at his offices’ reception ( even when you have prior appointment and you have re-confirmed directly before entering his office), just to show how busy he/she is!! The matter of fact is that in the last two years in Patna real estate, no one is BUSY. More surprisingly the builder who is making you wait might be busy posting selfies on Facebook. And to add to the woes the same builder is a dud in information technology and all that he knows is Facebook and other similar basics on internet.

Time was never important for us in Bihar. We did and do everything at our own Bihari pace. This is one thing from the past that has not changed and everything else has. The modern business environment of real estate industry in Patna is addicted with “compulsive bragging”. If you are sitting with friends and having fun time; you tell your better half even that you are in a meeting. The business ethics have melt down to levels that cannot be imagined in day to day routine.

If you are dealing with anyone related to Patna real estate, remember all of them are “BIG”. Please do not ask how and why? But they are. They will talk as if they keep doing business in crores daily!!! Surprisingly go and ask anyone planning to buy a flat in Patna, 80% of them do not know any brand in real estate at any level.

If you are not a buyer, please do not try to meet builders in Patna without reference. They act so pricey; that you feel even the poorest of real estate market can nourish such snobs. The quality of staff in their offices directly reflects the master. Remember there is a right hand of builder, means a manager who can only get you access to the builder. All that we can say about this creature is that “ let’s not talk about him”. Yes, ALICE in POORland!!! One manager told us that they are so big in Patna that they even do not need any advertisement ( his boss spends lakhs to be just quoted in dailies and ribbon cutting), they are number one!!! We did not tell him; maintaining the Bihari humility; that in an extensive research carried by us in last six month on Patna real estate, which consists of at least 200 articles, their name never crossed across. Really the attitude determines altitude!!!!!

While we write about the snob culture brewing in Patna real estate, we would like to mention that still there are some very fine gentlemen who are a part of this industry. We respect them; they respect work and not the mobile brand that you are carrying. Business is ever growing and learning process. We therefore hope that the real estate in Patna gets rid of ignorance and arrogance, sooner the better.

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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