REAL ESTATE PATNA

As we look at how the residential real estate market in Patna is behaving this festive season of 2015, developers in Patna and the consultants in Patna are on the same page while accepting that it continues to go through a slow time. Many developers in Patna still have their backs against the wall financially, and have been challenged to complete or show convincing progress on their under-construction projects in Patna. Unfortunately, this fact has been overly hyped by the media, and even developers in Patna who are well capitalized and fully able to complete their projects have been tarred by the negativity brush. This has resulted in a drop in overall confidence from home buyers in Patna , who are worried that they will commit their money into properties in Patna which will not be delivered on time. The National economy and therefore the state economy in an election year of state have not shown the kind of perk-up which everyone had hoped for in 2015. However, matters...

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...

www.buysellrentpatna.in The surge of property prices in Patna has converted the core city area into a premium market according to several local industry players. As a result areas earlier considered to be on the outskirts have come in focus and are growing as the mid segment market. The mid segment market falls in the price bracket of about 3000 per sq ft and has apartment sizes of about 1200 sq ft. Whereas apartments in the core area of the city which has turned into a premium market cost about 5000 per sq ft and offer apartment sizes of about 1500 sq ft and above. Some of the areas that cater to that mid segment realty market in Patna now are areas beyond Shaguna Mode, Khagaul- Shiwala , Danapur, Sampatchak, Parsa, in and around the By-Pass and the new developing colonies in Bihta. Developers in Patna agree that local builders who are known to complete projects on time with an average of about only 6-12 months of delay, results in units being absorbed during the launch...

Buy Sell Rent Patna When new professionals move to Patna, they will boost the demand for new housing units and also drive rental demand in Patna, motivating investors to bring their money to the market and keep the momentum going. The Patna real estate will thus grow. Therefore the question is how new professionals will come to Patna. Let us invert the model. The new Bihari professionals in any part of the globe will like to have a stake in Patna real estate. This seems more likely in next five years!! Patna real estate will have to deliver to non- resident Biharis (NRBs) in a large way in coming years to thrive and grow. Today’s Patna offers nothing for professionals to move in to the city in large numbers, therefore the real estate need to focus to attract their money rather them to Patna and then they might follow. First thing first, The CEO of www.buysellrentpatna.in , Rakesh Ranjan feels that there is a lot of negative perception in the Patna realty market which is affec...

Buy Sell Rent Patna Although Patna’s realty market has seen consistent appreciation in the last decade, there have, at all times been areas that have exceeded the average capital value appreciation rate due to reasons like infrastructure development, supply and absorption, the arrival of new schools, hospitals and offices or their proximity to Patna’s central business hub. Four such emerging pockets in Patna real estate are: AIIMS - NAUBATPUR The development of AIIMS in Phulwarisharif is the main driver and NH 98 to Chirora and Naubatbur is emerging where land banks are being created. A number of developers are plotting. A part from these a number of foundations for townships and enclaves are being laid down. The area is forging ahead due to increased connectivity. Elevated road from AIIMS to Digha in addition to the highways projects crossing by the area. The development of AIIMS has given a strong boost to employment opportunities in the sub-market of Phulwa...

www.buysellrentpatna.in www.buysellrentpatna.in is Patna’s own online real estate platform. One can explore all types of property in Patna on our hyper local real estate website. We not only surgically verify each listing that one sees on our website but also carry a due diligence of the property. It helps buyers and sellers in Patna to experience hassle free transaction, from choosing to registration of the dream property in Patna. Led by the thought that “real estate is local” we aim to build dedicated websites for many more cities/town of eastern India. We are present in Bhagalpur, Ranchi and Dhanbad and expanding…. “Forever new horizons” is the mantra we live by at www.buysellrentpatna.in and we combine virtual with real; the internet and the ground realities; being local and a part apart of Patna and cities like it. As Patna makes its way to become one of the fastest growing cities, www.buysellrentpatna.in, conceptualized by level headed simple innovators and belie...