Infrastructure development has a significant impact on the
property buying decision in Patna as well as any other part of the world.
Whether a first time home buyer or a seasoned investor, all of us look for the
growth in values of our property in Patna; we know that infrastructure
development is a booster dose for realty values in Patna. One of the greater catalysts is transportation
infrastructure. It has historically proven to have a positive impact on realty
values in a city like Patna – residential and commercial properties in Patna
located close to transportation infrastructure tend to command a premium.
Independent analyses of pricing in many cities in India reveal that proximity
to a metro station can single-handedly account for a 22% variation in land
values, the other factors being location, distance of the land from the central
point and income groups; we quote this as METRO is going to run in Patna in
near future.
It is also observed that average areas gain popularity due to Metro
and road developments. In Patna the real beneficiaries will be areas around
AIIMS and further plus areas around Shaguna Mode- Shiwala. Additionally it will
be Zero Mile –Pahari and Sampatchak Area. The old congested Patna will also get
an opportunity to spread. The flyovers, the connecting national highways,
better roads and Metro will reduce the travel time in and around Patna. It will
also better lifestyles for average Patnaite.
The
development of Patna- Bodh Gaya-Dobhi four lane, Digha- Sonepur rail cum road
bridge, AIIMS Digha Elevated road, The marine drive project, Bidupur-Didarganj
Ganga Bridge, Koilvar bridge, flyovers and the Metro; Each of these
transportation infrastructure initiatives will have a tonic effect on the
adjoining realty micro markets in Patna. The expected implementation of the metro
rail will pump up redevelopment in older Patna and increase property prices in
Patna by more than 100% in a short span of 4 to 5 years. The CEO of www.buysellrentpatna.in, Rakesh
Ranjan, adds that among the series of mega-projects announced and implemented
in the past one year for Patna, the Metro is the biggest so far. “The combined
effect will reflect positively on Patna’s real estate market – the residential
and retail markets will witness tremendous growth, especially those near the
Metro stations,” says Rakesh Ranjan.
The new airport,
satellite city like Bihta, and mushrooming schools and hospitals will not only benefit
the present but also the future infrastructure plans for Patna. They will also
continue to fuel the growth in the real estate sector in Patna. The cherry on
the cake will be a little push on industrial and Information Technology front
to boost the realty development and property prices in the western frontier. “The
proposed infrastructural development will further strengthen the resolve of
real estate developers in Patna to venture into these newer areas with housing
and commercial projects,” says Ranjan.
Nice Blog Post… If someone wants to take a flat or apartment in your budget of 1bhk, 2bhk and 3bhk, then Godrej Hillside noida extension is giving you a good real estate property.
ReplyDelete