REAL ESTATE PATNA

Mr. Kumar had recently purchased a 3 BHK flat in the Shaguna More area of Patna. The flat cost him around Rs.60 Lakhs including taxes. Besides saving, he had to take a home loan of Rs.45lakh. Now the biggest burden he faces every month is the EMI which takes away 35% of his monthly salary. With the ever fluctuating interest rates, home buyers in Patna like Mr. Kumar are having second thoughts on purchasing homes in Patna. To keep EMIs affordable and also purchase the dream house in Patna, people usually go for long tenure home loans . However, many are clueless that the more long-term loan you apply for, the more interest you pay. As mentioned above, the long-term loan will make you pay extra EMI from the usual interest rate you are paying. The short-term loan will ensure reduced long-term financial commitment. A 15-year loan is quite affordable compared to 20-year home loan , which will also result in the lower interest rate. Moreover, the principal amount pai...

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,...

"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. ...

My Home In Patna Let us ask the question whether real estateagents in Patna will be needed to people of Patna.  We begin by pointing out that with all the technology out there for home buyers and sellers now growing in Patna, do real estate agents will matter some 10 years down the line.   Home buyers in Patna will be able to do a lot of research online (for E.G. on www.buysellrentpatna.in ) and on their phone with amazing Apps in coming years. Mobile apps will let home buyers in Patna drive down a street, pull out their Smartphone, aim it at a house and snap a picture. Based on the GPS coordinates, the apps will tell home buyers almost everything about that property in Patna . The other question is will the government property records be so streamlined in Patna in coming days and reliable enough. For example square footage information many times cannot be accurate in Patna. Why? It is often seen in Patna that a builder in Patna gets the permission for ...

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...

The deepening economic slowdown, rising cost of living and low wage revisions, coupled with higher interest rates, are forcing salaried professionals who had earlier invested in properties in Patna to put them up for sale in Patna . Resale inventory has increased 30% in Patna real estate industry. Buy Sell Rent Patna People who had invested in properties in Patna some 5 years ago are now finding it difficult to service their home loans which have become too expensive now due to the rising interest rates and falling rental yields. According to a survey, resale inventory in Patna has increased nearly 30% over the last six months. Economic slowdown has hit the   Patna real estate industry. Salaried professionals, who had invested in properties in Patna five-six years ago to cash in on the boom, are now looking to sell them as they are finding it difficult to cope with the high cost of living. The resale market of flats in Patna is currently domin...