REAL ESTATE PATNA

PATNA ’S real estate market is going through rapid transformation in last five years or so, and the credit goes largely to the demand of property buyers in Patna and infusion of fresh talent into the Patna realty market. There can be no progress without change, and it is change that the new generations of developers and builders in Patna have brought with them. They have a fresh outlook on the real estate business, and the vision and zeal of youth on their side. They come from various backgrounds - some are the scions of existing real estate business in Patna, but most of them are absolutely new to the field of real estate in Patna . This young lot of builders in Patna are changing the whole experience of service offerings for customers who want to buy land in Patna or buy a flat in Patna. In our opinion, those who have the benefit of continuing in established family businesses have had a greater advantage. They have the benefit of an existing business foundation and a loyal c...

After 31 July 2017, if an ongoing residential project or a new project that is more than 500 sq. meter or has more than eight apartments, wants to advertise or sell its units, it has to get registered with the real estate regulator of that state or union territory; as per the RERA ACT. How many projects are going on in Patna? Who are the builders? What is the status of construction? Time till completion!!! Home buyers in Patna have always been curious about these issues!!! Now they have a platform; RERA BIHAR website to look into these anxieties. BIHAR RERA WEBSITE Developers and builders in Patna just do not have to register themselves with RERA BIHAR but have to give all the details related to the project, to be put up on the regulator’s website for the public to see.   Now if anyone is planning to buy a property in Patna, Bihar most of the questions can be answered on this website, though at the time of writing the website needs a lot of updation and validation,...

Builders in Patna are used to quote the price of the apartment in terms of super built-up area , without clarifying how the super built-up area of a particular flat in Patna is calculated. Majority of builders in Patna randomly load 20-35% of net usable area of the apartment to arrive at super built-up area. The reason to charge on super built-up area, as interpreted by builders in Patna, was to cover the cost of construction of all common areas such as passages, staircases, lift shafts, lobbies and covered car parking areas. More surprising was that even civic authorities in Patna, instead of discouraging the wrongdoings by builders in Patna, supported the illogical move, as they could get higher property tax, considering super built-up area of the apartment for tax assessment. In Bihar government authorities made it mandatory to mention the super built-up area in the sale deed of apartment, in order to earn higher stamp duty and registration charges. Thanks to the re...

Buy Sell Rent Patna The Patna real estate is changing gradually in terms of projects, innovation, schemes and approach. Both home-buyers in Patna and builders in Patna are adopting. Home Buyers are now becoming more demanding when it comes to new property purchase in Patna. On the other hand Sellers in Patna realty market too are doing their best to offer complete service for home-buyers in Patna . Innovative ideas are being deployed by sellers in Patna to make the buying and selling process faster and engaging for home-buyers in Patna. Patna; though lags behind the national standards of being digital; is crawling towards the digital medium of attracting home-buyers. We can at best say it has just begun. The best thing is that it has started. The first check for most of the home buyers begin online and Patna too will shift to it. Currently the word of mouth and sales force induced sales dominate Patna property market but digital is the future. Builders in Patna have...

Women Power in Home Buying  Property buying is a major decision in middle class Patna Family; especially when the property in question is for self use. Within the family who is the decision maker? The current trend in Patna is that the whole family gets involved; Parents, the buyer and close relatives. But the “HOME MAKER”; she can be earning member even, now has increasing share in this decision making pie. Yes, increasingly Patna’s builders and developers as well as real estate agents in Patna agree that the lady makes or breaks the deal!!! In fact one of the Builders in Patna goes to the extent that for his new project he is hiring a lady architect to better understand women expectations from “the HOME”. Households in Patna are increasingly having dual incomes, and women have equal decision-making powers and often make decisions on behalf of the whole family.  Those who finally buy their homes after living for years in rented properties in Patna will apprec...

www.buysellrentpatna.in The retrospection is over. The new master Plan for Patna is ready. The guide to urbanization of Patna till 2031 will be unveiled mid August 2015. After a gap of almost two and half years the Patna realty market can dream further. Elevated lifestyle and options will mark the real estate development in coming years. Patnaites envisage a city which engulfs a modern lifestyle. One word, that will differentiate Patna real estate after and before the master plan 2031 is; Quality. One can already witness advertisements by developers in Patna promising certain specified percentage of green areas. That is New and welcoming.  The developers and customers will focus on “Lifestyle”. The demand has built up in last two years of pause. The other day one client of ours who is looking for an apartment for her parents desired for a “lifestyle” for her parents who are retired. She wanted space for them to walk, community center, daily groceries, exercis...

BUY SELL RENT PATNA In Patna real estate market there is invasion of realtor's and developers working in metros of our country. Most of them have their branch offices or some other form of operational establishment in Patna. The bug does not stop here and many well established home grown builders in Patna have begun digging foundations in other parts of our country.  Is this a story of the High net worth Individuals making a flight to metros? It would be heartening for the growth story of Bihar . Unfortunately it is not limited to HNIs but the middle class Patna dweller is taking the lead in this flight. The reasons are plenty; but one which occupies the center stage is the plight the real estate Patna is in from last two years or so. BUY SELL RENT PATNA The Bye- laws have seen the light of the day, almost. Implementation is to be watched. The master plan for the city is still under covers, how long it will take, no one can guess or estimate. As the uncertai...

                                       Luxurious Apartment in Anandpuri, Patna Sale volumes at India ’s top 25 listed real estate companies have almost halved in the last two years. According to Knight Frank sale volumes have dropped 43 percent from January 1, 2012 to December 31, 2013 thanks to buyers deferring property purchases in all pockets of our country, including Patna . Knight Frank says buyers have stayed away on account of a high interest rate regime, unaffordable realty prices and an uncertain job market. In Patna add to these, the drama that the Nagar Nigam and Patna High court played for one and half years regarding the building bye laws. The stress on builders’ balance sheet is palpable in the country. In Patna the stories of builders in Patna been wiped out and many flocking to Jharkhand, Bengal and even metros is widespread. In fact in most colonies of Patna...

Property management in Patna With the growth of the Patna real estate market over the past decade; Patna property will shift its focus to Quality along with Quantity. The increased focus on the quality of buildings in Patna by buyers and sellers both in residential and commercial categories will result Property Management in Patna to play a vastly amplified role in the immediate and long-term future in Patna real estate market. Builders in Patna and as well as real estate companies in Patna will understand and accept, sooner the better,  that professional management of a property in Patna will result in very significant cost savings, increased customer satisfaction via improved environment, and better safety levels. Outsourcing Property Management services in Patna will enable builders in Patna to concentrate on their core business and leverage the expertise of specialized service providers. Builders in Patna will have to engage the services of Internat...

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...