Tuesday, 2 August 2016

“Biharis, invest in Real estate Patna; rather than Delhi NCR and other Metros.” WHY?

Property expos are regular features in the centrally located relatively prime hotels of Patna. They are usually organised by popular newspaper houses and co-sponsored by builders and developers. This is a welcome effort and the Patnaites are reaping the benefits of comparing under one roof before making decisions. The surprising part is the participation of a number of builders from outside Bihar in these Patna Property Expos; especially Delhi NCR.

The main reason for Biharis being attracted in properties outside Bihar is that Biharis are migratory birds. Unfortunately, still a Bihari parent wishes that their offspring works outside Bihar. No doubt things have started reversing but Bihar has still a long way to go. Biharis are so obsessed with the outer world that they do not realize that the Patna is a better investment avenue for real estate than the metros of India. The ROI in Patna real estate is HIGHER. Yes; Patna is better-suited for investing in property and earning maximum possible returns. It is a hot property investment destination.
There are several advantages of buying property in Patna. Let's take a look at some of them.
ROI: The return on investment (ROI) expected from buying property in Patna is much higher than that observed in Tier-I cities and metros. This is because the land or property rates here are comparatively lesser. After a few years, when the property rates will be higher, you will earn a significant return on investment.
Diverse Consumer Base: As the hustle and bustle in Patna is less as compared to metros, the residential realty sector here targets a different, more diverse, customer base. Whereas Tier-I cities typically attract young, aspiring and ambitious professionals, Patna makes for suitable living options for parents and retirees, in addition to young job-seekers.
Cost Effective: Patna serves as a cost-effective alternative to metros. While metros are spread across a large area, Patna has necessary facilities such as schools, hospitals and shopping areas in the vicinity, making the whole region extremely accessible.
Good Option For People Seeking Community Living:   Many of the reputed builders are developing integrated townships, villas and bungalows in Patna. This way, all those people wishing to reconnect with their roots can do so with ease, without having to worry about the stay. This also applies to the NRBs (non-resident Biharis) wishing to return to Patna and stay here.
You should, however, understand that all is not rosy with investing in Patna. The greatest fear is that the growth story could snap much earlier than expected and may remain stagnant or move downwards thereafter. That would reduce the demand for properties in Patna, resulting in a very low return on investment. Another limiting factor in buying property in Patna is that it does not possess the facilities one is used to in the metros. One may not find, say, a wide array of choice in restaurants, malls, pubs, multiplexes and so on.
Most of the 2-3 BHK homes in Patna are available in the price range of Rs 40-60 lakhs. The rental returns in Patna has also been increasing consistently. Patna has been generating a rental yield to the tunes of 3.5-4 per cent in areas like Boring road. The monthly rentals are in the range of Rs 12,000-25,000 per month on an investment of Rs 60-80 lakhs in many other areas of Patna. Such numbers make for an extremely profitable return on investment.
Currently, key investment locations in Patna are Gola Road, AIIMS Phulwarisharif, Khagaul and Sampatchak.



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