Skip to main content

THE DNA OF PROPERTY BUYERS IN PATNA REALTY MARKET.

"नहीं, भइया बोले की रेट फ्लैट का ज्यादा है ! आठ साल से भईया हमारे इसी इलाके मैं रहते हैं !! आला अधिकारी हैं गवर्नमेंट में ; सारी जानकारी रखते हैं। ...... 

Property buyers in Patna evaluate a lot of things before taking a plunge; and we respect the time and effort that they take in taking the LIFETIME decision.

In addition to serving the basic need of access to a decent accommodation, many property buyers in Patna also evaluate the economic benefits (such as saving on rent and capital gains) a property in Patna would deliver. Thus, while property purchase decision may or may not be out of necessity, the financial aspect is largely the driving factor behind a property purchase decision.

Other important consideration of home buyers in Patna apart from financial is the number of their relatives or friends or in local parlance; परिचित in that particular location.  We, Biharis are really social, though it is reducing with time and nuclearisation of our families. But still reference plays a large role in Patna property market.

The lady of the house plays a major role in Patna in buying FLATS particularly, not so much in land or commercial properties. It is also helpful if the children have their friends residing in that particular neighbourhood.” 
मम्मी मेरी बेस्ट फ्रेंड भी बगल वाले अपार्टमेंट में रहती है !!!  The children are very important in our nuclear families. As the lady and children are gaining bigger roles the Kitchen and Balconies are becoming deciding crucial factors.

The easier access of native village from the part of Patna where they are purchasing the flat too is important. The people from आरा , छपरा  will prefer western Patna, whereas people from नालंदा , बिहारशरीफ  will prefer Kankarbagh side of Patna. “हमलोग अभी भी गांव से जुड़े हैं !!”

The ATTITUDE of builders and their Accessibility is very important for home buyers in Patna. Gone are the days that the home buyers are ready to wait to meet to builders. If it is the manager only interacting with the buyer ; the buying probability reduces. "बहुत घमंडी है , छोड़िये इसको, दूसरा फ़ोन कर रहे थे। ....  

Yes the time has changed and buyers love humble, simple professional builders. No धिकावा will work that the builder is busy, they know you are on facebook…..or  गप  मार रहे होंगे , काम क्या है …

We think and hope that the transformative reforms such as Real Estate (Regulation and Development) Act, 2016, Prohibition of Benami Transactions Act, 2016, and Goods and Services Tax (GST), etc. will lead to higher transparency and efficiency in the real estate sector. Going forward, property buyers in Patna would be more confident while investing in real estate. Let us see what Property buyers look for in Patna real estate market.

The decision of a buyer to purchase a property competes with numerous other investment opportunities, such as gold, stock market and bank deposits. Real estate is amongst the most preferred asset classes for Bihari investors and it is estimated that real estate accounts for about 40 per cent of total household savings in Bihar.


With the availability of multiple units in Patna real estate industry, property buyers in Patna can now make an informed decision to help them take full advantage of their returns from residential properties in Patna. 

Comments

  1. Nice Blog Post… If someone wants to take a flat or apartment in your budget of 1bhk, 2bhk and 3bhk, then Godrej Hillside price list is giving you a good real estate property.

    ReplyDelete

Post a Comment

Popular posts from this blog

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