REAL ESTATE PATNA

Things are looking up for real estate sector in Patna with proposed implementations of Real Estate Regulatory Act and Goods & Services Tax along with lower home loan interest rate regime. This sentence is qualified by the increase in number of queries on our Patna property portal www.buysellrentpatna.in . The feel good factor is also being supported through fiscal benefits offered to taxpayers and home-buyers in Patna. The sentiment is expected to turn positive and instill confidence among home-buyers, which is extremely important for the revival of the real estate industry in Patna. The Union Budget's gift of infrastructure status to affordable housing is a game-changing move that will open up more institutional sources for developers in Patna to raise funds at competitive price. The budget has also given leeway to developers in Patna to build bigger houses and extended the time of completion of affordable housing projects from 3 years to 5 years. We strongly ...

Source: RBI, Ministry of Roads, JLL REIS The correlation between building road infrastructure and restricting house prices to moderate levels in Indian metros is shown in the above graph. Length of road construction is known to have a direct bearing on real estate anywhere in the world and our Patna is no exception. But what is the correlation of Roads and prices in Patna real estate market? Does road building check property prices in Patna or they help them to rise? As road lengths increase and there quality improves , connectivity improves across a wider geography – thereby attracting new project launches at lower price points away from the centre of Patna. An example is the connectivity of Bihta with Patna through the road. Another example is the flyover built above the Raza Bazaar area; it has made western Patna, Danapur, Khagaul, and Shaguna Mode more accessible as residential property market option. This has reduced or better say checked prices in cent...

Patna real estate The Patna real estate sector has been facing strong headwinds over the past couple of years on numerous counts.  The clear air on bye-laws and master plan still elude the Patna realty market. Customers are adopting a wait and watch approach hoping for prices to come down.  While prices have corrected somewhat in most localities across Patna, the combined effect of cost increase and reduced prices along with the increased finance cost on account of the slow sales has left developers in Patna with no head room to lower prices any further. READ THE FULL ARTICLE.....

Urbanisation can be simply defined as the rise of cities vis-a-vis the rural landscape. As a country moves ahead on the road to progress, cities tend to take center stage. In that manner, the rise of cities has often been construed as an indicator of development and progress. The case has been no different when it comes to Bihar. While the pace of urbanization was a bit slack in the early years post-independence, it has really picked pace in the past few decades, especially in the post-1991 phase. Coupled with economic growth and expanding markets, the urban population now stands at around 30% of the overall pie in India. Bihar lacks far behind the national average and the urbanization rate in Bihar is just 11.3% as of 2011. The picture of an urban Bihar is far from rosy. From economic growth to demographic dividend in the form of a young population, Bihar has many things going for it. If Bihar desires to shed its “laggard state” tag planned urbanization needs to be given due att...