REAL ESTATE PATNA

We at BuySellRentPatna.in always find sellers in Patna, particularly those who as investor went for a property in Patna for returns, asking too high a price than the relevant market price. The non- resident Biharis too are exorbitant We do understand that with no index to guide on the market value of the properties in Patna, the seller tries his whims and luck as a strategy. The only tool available to sellers in Patna is comparative analysis in the locality. The selling price is directly proportional to appreciation in the property prices . If anyone is investing in the Patna property market for rental yield; than both residential and commercial yields are negative, until and unless you have inherited a property, which many have in Patna? Therefore it’s better to invest in Patna real estate for appreciation and only appreciation. Therefore prior to investing in a property in Patna , analyze which are the factors which help in appreciation of Property prices in Pa...

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,...

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...

First and foremost the difference between investment and self- use must be clear, prior to putting money in any property in Patna . In self-use; while you pay for your own “emotions” and requirements; in an investment you pay for or put your money for returns in the best trend of the market, the mass. One additional feature for any investment in Patna is liquidity. In self –use you need not think about liquidity as you do not need to cash out in near future of 3 to 5 years but in an investment that is the objective. In Patna real estate , the investment can be in land (longer the term the better), for rental yields (commercial is better) and re-sale (for getting returns in 3 to 5 years). We feel, especially in the residential segment in Patna property market , middle path is the best. Invest where the target audience is largest, larger re-sale as well as rental opportunities. No doubt in this regard 2 BHK flats in Patna score the best. Patna middle class can afford 2 BHK ...

Property Rates Patna “Good lord, they are too high.” They are unreasonable. But at those prices only properties in Patna sell. Interestingly the story of non- resident Bihari is more peculiar. If they have to buy, they will pull out a list of amenities which Patna has not even heard of. But the same person while selling his/her ancestral property in Patna , a city which is not livable according to them, quotes amazing high prices. Secondly, because they live outside Patna, it makes them feel they are Smarter and they even know more about Patna than a resident working 24*7 in real estate of Patna. These non- residents have another superlative attached for themselves; we are connected. That is how the entire real estate of Patna , is made up of; ignorance and arrogance. The truth is that these non- residents live in sq.fts as little as 600 in the bigger cities all around the world and their life is dictated by work and weekend. As their work is defined so is their weekend, ...