REAL ESTATE PATNA

A   survey conducted by our company   on 100 flats’ buyers in Patna found that two out of every three homebuyer   in Patna   s ank in more than 50% of his total savings into the down-payment itself for purchase of flat in Patna .  Flats as investment vehicle is never attractive in Patna as rental yields are very low in Patna and property prices in Patna are elevated in many localities. The ‘ideal flat in Patna’ should provide the convenience without the compromises, be affordable and have great resale value. Since this is an elusive dream, home-buyers in Patna should focus on one or two items on their wish-list. It is important to find a good middle-ground between utility and affordability while buying property in Patna .  For a middle class resident of Patna, AFFORDABLE means property in Patna under the Rs 50 lakhs bracket.   Because the AFFORDABILITY measure = Ratio of EMI to Monthly income. A middle class family in Patna earns arou...

Buy Land in Patna It is the rising price of land in Patna that keeps the price of real estate in Patna always increasing because the land price is the most important price factor in the real estate price in Patna. But at the same time land prices in Patna are also dependent or better say partially dependent on real estate developments in Patna. With rising real estate developments the land prices too head northwards. This very symbiotic relationship between land prices in Patna and development in Patna real estate is major cause of real estate bubbles in Patna. Yes, it is interesting to decipher whether it is high prices of houses in Patna that makes the land prices in Patna higher or is it high land prices that makes buying a house in Patna exorbitant. The price of property in Patna is made of material cost, labour cost, intangibles like location & brand, marketing and administration costs (for builders and developers in Patna), registration & stamp duty cost, tax...

Patna needs to be promoted as poverty fighter and engine of economic growth of Bihar. Patna needs to choose local economic development (LED) indicators and tools that can be used to collect and analyse  data and assess the overall competitiveness of the local economy. Local priorities include identifying ways to improve the Patna’s overall economic performance and efficiency, promote competitiveness of the city in national and international contexts, and develop a broad-based job creation plan that includes the informal sector. Overall success will come from involving all types of businesses (from microenterprises through larger private sector firms) in crafting the local development strategy, securing their involvement and investment, and defining the supportive role of the central government. A successful city development strategy (CDS) for Patna requires to be based on a careful assessment of the local economy components on which effective development strategie...

Warehouses form a crucial link - between manufacturers and us, the buyers from the local retailer. The turnaround time, or the time taken to deliver since ordered by either the consumer or the retailer is important for any company be it ITCs, the Unilevers, or the consumer durable companies such as Samsung and Whirlpool. They all manufacture their wares, ship out, and during various stages of transportation, store the products in strategic locations so it can be delivered in quick time, whenever they see demand. In the case of e-commerce (flipkart, amazon), the warehouses also ensure that the parcel the customer receives has the correct product ordered, that it hasn't been tampered, and safe. Warehouses  have always existed in Patna. GOL GHAR, the famous monument of Patna was built as  warehouse in Patna  in British period. Therefore what's new is the way; Patna stores its ware especially after GST. It is changing; from Godowns to warehouses. Third party log...

Property Rates Patna What are the reasons that Property prices in Patna rises? Patna is a unique market as the demand comes from all around Bihar and even abroad from NRBs (non-resident Biharis). We have factored in few reasons in this write up. 1.      1.  Growth  in household income When household income in Patna grows, property prices too display a rise. The extra income is used to buy property in Patna as most end users buy property in Patna wit h   home loans. As household income increases it eases out the payment of EMIs. 1.      S     2 . Stamp duty and Circle rate of property   State government from time to time revises the circle rate of different localities of Patna. An increase in circle rate means more payment of stamp duty, as stamp duty is a certain percentage of circle rates. The circle-rate increase directly hikes the property rates in Patna . 3.       ...

Patna Real Estate   First Reason : - OPEN PLATFORM No one cannot really be held responsible for adding misleading information to 99acres ; Magicbricks ; housing.com , Proptiger.com and many other national real estate website database, since they are an open platform, without regulation. The major problem is that homebuyers or sellers do not know whether a listing on these national sites is a legitimate deal or a time pass. Innocent online home buyers simply assume that a property for sale on 99acres is available, and may begin to get emotionally attached to it before finding out that it is a JOKE. Not only 99Acres but all national websites are known for having this same problem. At most the mobile number is verified or mail id is verified on national real estate websites but the most important thing the property is not verified physically or legally. Anyone with an email id and phone number can go and list their property for sale or rent on these national websites...

Our Article published in Times Of India, Patna Edition on 29th July 2018 (We have reproduced here our Article first printed in Times of India, the newspaper)   How many real estate projects are going on in Bihar? Who are the builders? What is the status of construction? Time till completion!!! Home buyers in Bihar have always been curious about these issues!!! Now they have a platform; RERA BIHAR. The buyers in Bihar have RERA BIHAR website to look into these anxieties. Developers and builders in Bihar 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 flat in Bihar, most of the questions can be answered on this website, though at the time of writing; the website needs a lot of up-gradation and validation, but it is functional. According to RERA ACT, after 31 July 2017, if an ongoing re...