REAL ESTATE PATNA

The property prices in Patna keep fluctuating year by year. However, in the last three years, the property prices in Patna have been stagnant. Despite of this no change in the price, home buyers in Patna are still in two minds about buying new apartments in Patna. One of the basic reasons behind these two thoughts is due to delay in the delivery of existing residential projects in Patna, which eventually creates a lack of confidence in the minds of buyers. Why not! when the delays are greater than three years. Yes, years and not months. This is also affecting the decision of investors in Patna who may consider it as loss of investment. The after effects of “ Kuldeep Narayan era ” in Patna real estate continues. Now with the GST coming into the effect, this has further affected the decision. Under GST, the tax for under-construction project has shot up to 12 per cent. The developers in Patna will be bearing the burden of GST, which will certainly pass on to the home- buyers in Pa...

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 ...

Mr. Bihari is a proud Father. His only son is in USA; the land of prosperity; and is very prosperous there. He is working for one of the best consulting firms of the world and after 15 years is on a senior position. The son is well settled NRI or we should say NRB (Non Resident Bihari) drawing five figure monthly salary. The son’s only son goes to a Private school; he has bought a KOTHI in USA spread in half acres or in Bihari terms 16 katthas. (1 kattha=1361 sq.ft in Patna). Additionally Mr. Bihari and Mrs. Bihari frequently visit their son. The son too flies to Patna once in two years for a month or so. There are only two scenarios where Bihari middle class parents are really proud of their son. If they are settled in a job outside Bihar , the greater the distance of settlement from Bihar the better or the son has a Government Job. For daughters the Bihari parents in addition to these two criteria for sons have another criterion. The daughters married to these worthy types of ...

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...

It all began in 2013 and then 3 more years 2014-15-16 that Patna real estate has gone down and down searching not for growth but the BOTTOM. A screener that can be used to measure the “freefall” is that a leading English Daily, Times of India , closed the publication of its monthly property supplement for Patna due to lack of interest of readers and more important revenues. We have named these down and down years the “ Kuldeep Narayan Era ” of Patna real estate after the erstwhile Municipal commissioner of Patna for major part in these years.  As it seemed that the U turn for Patna real estate has arrived in the last half of 2016, the number of new real estate regulations and Demonetization by the “King of India” bombed Patna property market to take it to new lows. What is in store for Patna Realty Market in 2017 in light of introduction of regulations like RERA , Benami Transaction Prohibition, REITS, GST, lowering interest rates, lackluster interest of State go...

 Not long ago, Patna real estate was a seller’s market. Developers and Builders in Patna, even the ones with a terrible reputation owing to delays and quality of construction, were never short of eager home buyers in Patna . Patnaites embody the ‘roof over our heads’ aspiration like few others. That meant developers in Patna decided what the market wanted. They set the size of apartments in Patna, the price of property in Patna and the designs, quality. The customer’s choice was smothered by demand frenzy.   The three year “legal battles” all around the Patna property market has over hauled the scenario. As our founder calls it , the KULDEEP NARAYAN ERA of Patna property market, where any and everything in Patna property market was under the lens of municipal commissioner Kuldeep Narayan. He and his team brought Patna reality to a standstill. It was a nightmare for the industry along with the slowdown in economy. Just imagine that an individual in Patna could not hav...

www.buysellrentpatna.in Many developers in Patna are highlighting that their residential projects in Patna are close to a major highway or expressway while marketing them. Obviously, there is a lot of notional value attached to homes which enjoy such a locational advantage. And our District Patna is getting a number of Highways built in it. The major ones are: -   1)     11.7km Khagaul-Naubatpur-Shivala-Bihta road. 2)     Patna-Buxar NH 30 route 3)     The Bihta- Sarmera state highway 78. 4)     NH 83   - Patna - Gaya- Bara -Dobhi. 5)     Digha Sonepur railway cum road bridge over Ganga However, there can be both advantages and disadvantages to buying a home in Patna which adjoins or is close to a major highway. Both should be considered before investing in a property in Patna . In our city Patna, inter-city (ARA-PATNA, JAHANABAD-PATNA, GAYA-PATNA, HAJIPUR-PATNA) connec...