INNOVATION IN URBAN DEVELOPMENT NEEDED FOR BIHAR

Innovation in urban development must first and foremost respond to the basic needs of stakeholders and has to be BIHAR specific.

Bihar must begin by prioritizing the integration of economic development, especially job growth, into the planning process, which in turn must be flexible and future-focused. City development programs will need to consider the natural advantages of given urban locations, capital formation, public-private cooperation, the connectivity quotient, as well as work-force readiness through education and job training. “The JOBS that will provide for LIVING and then cater to LIFESTYLE”. It should incorporate infrastructural planning for job creation, community growth and environmental responsibility.

The state government requires to seriously and deeply think to bring in PRIVATE players.Private participants can contribute expertise and proficiency in areas such as urban planning, design, construction, technology, logistics, and Sales & Marketing. Typically, PPPs in urban development imply a long-term relationship that spans the project’s life-cycle. Emphasis on output areas encourages innovation focused on developing new, sustainable and cost-efficient methods and models. Each party does what it does best; the Government can focus on its administrative and regulatory know-how, and the private sector can focus on operational and execution aspects. Delineating lines can sometimes blur, with stakeholder-focused, strategic collaboration resulting in a win-win-win situation that benefits communities, economic growth and the environment.

There is a limitless world of possibilities for our collective urban future in Bihar. And there are examples all around the world where Public-Private Partnerships are producing innovative and successful urban models. For example, in 2015, Washington DC (USA) entered a power purchase agreement (PPA) with a renewable energy partner to prevent the release of air pollutants via alternatives such as wind power.

Sustainable urbanization is today universally acknowledged as a vital contributor to achieving global climate change goals. Therefore, the urban development in BIHAR too needs to seek to reduce its emissions intensity. Patna already has alarming levels of air pollutants. Planned and holistic urban development that embraces both the environment and sustainable growth of the built environment will be the key for urbanizing BIHAR. A sharp focus on adaptation and resilience, driven by adequate infrastructural planning, clean energy, green construction, multi-format housing and technology as an enabler can help drive BIHAR’s urban agenda in the right direction. This will require active participation by both the private and public sectors to promote responsible urbanization and evolve sustainable frameworks that can collectively nurture the future of BIHAR’s cities.

We have before us the opportunity to accord urban planning and development the importance it truly deserves in BIHAR’s growth journey. It is an opportunity for collaboration that has direct implications for future generations - an opportunity for many lifetimes that we cannot afford to miss.

Buy Sell Rent Patna

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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