Is green building too expensive a proposition for Patna Real estate?

The irony of our times in Patna is that in a largely agricultural based economy of Bihar, a GREEN Building is seen as LUXURY, which only wealthy (which itself is handful in one of the most economically laggard state of India) can afford. In our poor state the poorest people are living the greenest lives and they need money not to be GREEN but to afford a “HOME”. Therefore “GREEN HOME” is luxury in Bihar for both the classes, one cannot have GREEN and the other cannot have HOME.

The idea of Green Building is to limit the impact of construction and habitation within the limits of the construction on the environment without compromising human comfort. There is a perception that going GREEN requires increased cost for the developer in Patna as compared to traditional construction costs in Patna. It is more so in Patna because builders in Patna do not participate in the maintenance of the building they have erected. If an INTEGRATED approach is adopted by developers in Patna, the initial higher costs may turn into income generating long term investments. For example, when buildings are carefully designed to be energy efficient, heating/ventilation/air conditioning (HVAC) equipment can be downsized for significant savings in the maintenance part. There are also many green products and materials that cost the same or even less than conventional ones.

Nowadays more and more people in Patna are realizing the initial higher cost of a Green Building in Patna to be a fair price for a safe, comfortable, durable house that does less damage to the environment than a typical house. The effects of global warming and the attention focused on them; make it easier to see the long-term heavy cost of building homes that rely heavily on fossil fuels.

The technologies that are used in Green Building lead them to be more energy efficient. Although these technologies might have greater upfront costs, they will save money in the long run for all the stakeholders. Green buildings make up for their slightly higher premiums through higher energy efficiency and reduced energy intake. A study shows that LEED certified buildings (https://new.usgbc.org/leed) are 25-30% more energy efficient than conventional buildings.

Many homeowners in Patna and business owners in Patna are now looking towards more sustainable real estate in Patna in order to fit in with the times. More customers are demanding sustainable practices, and businesses in Patna will have to listen, the sooner the better. The best way for developers in Patna to go Green is to rub their own offices within a Green Building. It will make convincing customers in Patna for the same easier. Not only the actual building is an advertisement in itself, but Green Buildings will also cost the company less in the long run.

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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