REAL ESTATE PATNA

PROPERTY  PATNA Patna’s real estate prices are never out of the news. From the sale of spectacularly expensive trophy properties in central Patna to the ever-widening affordability gap for middle class home seekers, the city’s residential real estate market is under a constant jaundiced limelight. What are the factors that have been driving Patna’s real estate prices so high over the years? To understand this phenomenon, one needs to examine it from the two primary real estate variables of demand and supply. Supply-Side Factors ·           Geography Geography is one of the primary factors responsible for Patna’s astronomic real estate prices . The city is surrounded by water on three sides; as a consequence, Patna has never seen circular development like most other Indian cities. Development has been always linear (or one-directional) from the eastern towards the western suburbs. A combination of factors such as distance...

Buy sell rent Patna The real estate industry in Patna would want to forget 2013. The year saw builders stuck with lifetime high unsold inventories, thanks to the step taken by the High Court of Patna against illegal construction and Patna Municipal Corporation’s inefficiency to bring the house in order even though nine months have passed. Developers in Patna held back launches, refrained from sharp price cuts and pegged all their hopes on freebies and promotions. The home buyers stayed away from the real estate industry in Patna due to the mess and indecision of the governing bodies. The home buyers in Patna expect a steep fall in prices of property in Patna . It is not to take place. We can c all it a vicious cycle, but cash-strapped builders in Patna say they cannot cut prices given the high trajectory of inflation and borrowing costs, whereas buyers say they will stay away until there is a sharp price correction as buying a 2/3 bhk flat in Patna has become unaff...