Monday, 19 February 2018

Property Prices in Patna

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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, a good weekend and a bad weekend is pre- defined? They are typical stereotypes who internally know they have goofed up and the only place they boost their EGOS is back home. They envy the debt free life of Patna…they are under the debt of money and time and more significantly IDENTITY.
They fail to understand that the property prices in Patna are driven by “LAND”. The land of Bihar is very fertile. No data (we research a lot) reflects this basic truth. About 12 crores Bihari (residents of Bihar) sustain themselves just on fertile land and water available in our “Hamarah Gaon”. We do not have industry and IT to look forward too. Still this “HAMARAH GAON” has survived since five thousand years and more. The industry and technology is replaceable every 10-50 years; the land and water is not.

God has created diversity, so one rule fits all is fallacy and therefore the “SOCIO-ECONOMICS” too is diverse. Property prices in Patna are a reflection of this DIVERSITY.

Sunday, 18 February 2018

Opportunities for Growth of Patna Real Estate Sector in 2018


Good days are here !!!
Has the “turbulent air” passed over the Patna real estate!! This is what the seasoned players in Patna real estate are asking in 2018. Patna real estate was put to hold by government “checkups” and delays in “Kuldeep Narayan Era” of Patna real estate, 2013-2016. With the formation of new government in Bihar, the realty market gained hope but then the Central government bombed it with slew of measures like de-monetization, RERA and GST to name a few. What will be their effect will unfold gradually in 2018. The uncertainties still prevail over Patna real estate but the hopeful builders and developers of Patna feel that 2018 will begin the upward trend and the implementation of policies will be the key. The good signs for Patna Realty market are a number of new launches in western Patna and work starting in full swing in a number of stalled residential projects in Patna. We explore that if 2018 is going to turn the tide than what are ingredients required to gain and sustain momentum in Patna property market. Patna realty market wants it trust and reliability back!!!
Digital Patna Real Estate

Once the RERA(Bihar) office comes in full swing and the online applications for passing the building maps in sleepy Patna Nagar Nigam is fully operational; The Bihar Government should launch a “SINGLE WINDOW CLEARANCE SYSTEM” in place. The major obstacle a real estate developer faces in Patna is the property clearance which usually takes 18 to 36 months. The majority of delay happens to procure approvals from authorities who take months to reply. Single Window Clearance is the compulsion of the real estate developers in Patna especially after RERA, where there is penalty on late delivery of projects. The real estate is already facing the regulatory pressures. So implementing this method will not only bring down the project delivery deadline delay but also the cost of the project implementation. By going online, it will boost the transparency and curb the scope of undue gratification.

Buy Sell Rent Patna
RERA
In the year 2018, builders in Patna will majorly focus on selling and completing the existing projects within the deadline. Though new project launches too will take place which are in pipelines from years. Hence, the year 2018 will witness major sales and delivery in the residential and commercial property market in Patna. RERA has given opportunities to builders in Patna to stay transparent and complete the project by the mentioned deadline.

2018 is a year where builders in Patna (specially the seasoned ones) could ready themselves for FDIs which will flow in India with new regulations in place and REITs seeing the light of the day. FDI in real estate project in Patna…..are we stretching too much …. 
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REITs

Friday, 16 February 2018

RENT A HOME IN PATNA



If you are renting in a house or apartment in Patna, be prepared and make a rational assessment of the property in Patna as well as of Legalities. Tenants in Patna usually look for basic amenities like electricity, water, parking facility and other convenient amenities. However, there is much more to it which should be certainly checked before you finalize a home on rent in Patna.
Our team will amaze you with certain detailed inspection points that Tenants in routine site visits forget to check. These points only crop up once they start living in the rented home in Patna. These points have cropped up many times when our engagement team takes a feedback from our rental clients in Patna. We have noted these from our clients and made a better checklist based on the feedback from our clients.
Do check for the Power Points in the Property for rent in Patna. High Voltage points in kitchen and for geyser in bathrooms and charging point just beside the bed are certainly needed. This is not all, look for the points for your electrical appliances like refrigerator, iron etc. and plan your move accordingly.
When you are in the process of finalizing your new home on rent in Patna, it is important to ensure there is ample storage space to place your books, quilts and other items when not in use.
We advise to check out for the seepage issues if any in the walls of the home for rent in Patna. Make sure the walls not messy and disappointing for anyone who comes to your home. The locks and windows need to be checked thoroughly whether they are working fine or not.
Check for any insects or rodent droppings and make it as an integral part of your inspection of the rental property in Patna. It is extremely necessary to know of any such problems before you move in for rent in Patna so that the property can be treated with appropriate measures. Remember, Ground floor properties in Patna are more prone to such problems.
The tenants in Patna should closely check to see if there are any damages in the flooring of different rooms. This is one thing that often gets overlooked while you are looking out for a rental house in Patna. Checking it in advance would any undue charges levied on you when you vacate the house. So, thoroughly check for any damage or discoloration in tiles or flooring.
In addition the tenants need to make sure bathroom fittings are working properly. Flush of each toilet is in working condition. Plumbing is as per your expectation. Check the faucets of sinks and wash basins for the running water. Check under the sinks and bathrooms for any type of seepage. Fill the sinks to check for water clogging if any.
The other major thing to be checked these days in a apartment in Patna on rent is mobile signal reception. It is often observed that tenants come to know that the property in Patna they have moved into is not ideally receiving the mobile signals. The reception is quite poor in some rooms of the home. So go to each room, pull out your mobile phone and check for the signals in each room.
And if you are moving into a furnished property in Patna for which of course you are being charged accordingly, make sure that each of the appliances offered is in working condition. This may include refrigerator, washing machine, AC, gas stove etc. Ask for the repair or replacement if you find anything in non-working condition.
Now that the tenants have finalized a home on rent, after complete physical verification of property for rent in Patna there are certain essential legal checks. However, it is equally essential to check the rental agreement for some of the most important points before you sign it in order to avoid that any disputes once you start living on rent in the desired house.
House for rent in Patna

It may all start form petty issues like repairs and bills and go on to unexpected rental hike. So, settling it all in the rental agreement needs to be your primary concern when you are about to sign the agreement.
Our engagement team always advises tenants in Patna, as well as landlords in Patna to define the agreement tenure very clearly; the end and start date of the contract. Generally in Patna  it begins when landlord hand-over the keys to the tenant but one can always negotiate few days for setting up the house before they actually move-in in the rental property in Patna.
It is essential to make sure that the rent agreement is signed by the signing authority itself and not any caretaker of the property in Patna. The legal owner of the property must only sign the contract irrespective of the fact that who has been occupying the property previously.
By law, if any of the fittings provided by the landlord is not working or is in unsatisfactory condition, the landlord is responsible for its repair or replacement. The tenant should not be charged by the landlord for the same. Well, this is something which should be not just communicated verbally by the landlord or the dealer but rather on the agreement so that the tenant doesn’t have to bear the expenses that come up later. A specific clause must be added regarding the maintenance of the property in Patna in order to avoid any dispute.
Notice Period needs to be mentioned on the rental agreement clearly for both the parties. This should be in favour of both tenant as well as the landlord when they want to vacate the house or get the house vacated respectively.
Security Deposit is essentially levied in order to rectify the arrears in case of any damages to the property, unpaid bills and other miscellaneous charges to be borne by the tenants for wear and tear of the property during the rental tenure. However, it is equally significant to pay the same through the bank deposit or cheque and also know exactly when you can claim it back from the landlord in Patna.

Remember, once you have decided on the contract and have signed up the rent agreement, there is no looking back. So, be very careful while drafting, reading and finally signing every clause of it.
Rent In Patna
RENT IN PATNA

Thursday, 15 February 2018

Buying a Home in Patna

Buy Sell Rent Patna
Buy A Home In Patna
 Purchase of your dream home is a lifetime decision. Even if you are an investor you do not flip properties in Patna daily, weekly or monthly.
We as advisors to home buyers in Patna always tell them not to be obsessed with trying to time the Patna real estate market and figure out when is the best time to buy a home in Patna. Trying to anticipate the housing market in Patna is prophetic. We recommend to our clients that the best time to buy is when you find your perfect house and you can afford it. Real estate is cyclical, it goes up and it goes down and it goes back up again. So, if anyone is trying to wait for the perfect time, they’re probably going to miss out.
 

Secondly, we often tell home buyers in Patna that you are going to buy a house not date it. Buying a house based on emotions is just going to break your heart. If you fall in love with something, you might end up making some pretty bad financial decisions. There’s a big difference between your emotions and your instincts. Going with your instincts means that you recognize that you’re getting a great house for a good value. Going with your emotions is being obsessed with the paint color or the backyard. It’s an investment, so stay calm, take your time and be wise.
 

You do not live in the house but the neighborhood plays as important role in your living. Therefore we suggest stalk the neighborhood before you zero in. Many home-buyers in Patna have become completely distraught because they thought they found the perfect home, only to find out the neighborhood wasn’t for them. Do regular commute from the house to make sure it is something you can deal with on a daily basis. Find out how far it is to the nearest grocery store and other services. Even if you don’t have kids, research the schools because it affects the value of your home in Patna in a very big way.


It’s better to research at ground rather than only think and build opinion by listening to what others say in Patna. We Patnaites are vocal and have opinion on everything but buying a house in Patna needs “ground work”!!

Buy Sell Rent Patna
Buy Sell Rent Patna

Friday, 9 February 2018

Importance of Site Visit for Home Buyers in Patna

Buy Sell Rent Patna

Ravi Ranjan, the Engagement Manager of www.buysellrentpatna.in says that most important aspect of the customer engagement in Patna Real estate is SITE VISIT, whether it is an under construction project, ready to move or even for residential and commercial tenancy. He adds that this is where everything is validated and the final seal on the deal is put. No doubt the other touch points both online and offline are important but the SITE VISIT sets the Final verdict. Secondly says Ranjan that in under construction projects, periodical site visits helps in keeping track of pace of development of the projects in Patna and also ensures the quality of materials used by builders in particular projects in Patna.


The virtual reality through Internet is playing an important role in Real estate now. Its contribution is increasing day by day. Still, seeing is believing, holds ground. In a city like Patna, where the distances are not much, visiting sites on weekends and holidays is a norm. Ask any real estate company in Patna and they are open on Saturdays and Sundays or at least the people responsible for SITE VISITS do come on these days. Higher percentages of Site visits in Patna are carried out on weekends and holidays.

Buy Sell Rent Patna

The online marketers too agree that the SITE VISIT will play crucial role in the near future too in Patna property market. The site visits help the opinion of stake holders to form and go ahead with the deal or say no to it. The whole family can visit the site and discuss the property in detail at the spot and later at home to arrive at a decision. It also helps in comparison of various properties which the buyer or tenant has visited or have been told about by the real estate agents in Patna.
The site visit also brings the detail of the neighborhood clearly to buyers or tenants in Patna. The quality of amenities in the locality can also be seen while driving to the property in Patna. One important point that comes out during the site visit in Patna is about the water logging situation during the rainy days in that particular area.

Site Visit therefore is a must, prior to saying YES to any property in Patna.




Monday, 5 February 2018

INNOVATION IN URBAN DEVELOPMENT NEEDED FOR BIHAR

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URBANIZATION


Innovation in urban development must first and foremost respond to the basic needs of stakeholders and has to be BIHAR specific.
Bihar must begin by prioritizing the integration of economic development, especially job growth, into the planning process, which in turn must be flexible and future-focused. City development programs will need to consider the natural advantages of given urban locations, capital formation, public-private cooperation, the connectivity quotient, as well as work-force readiness through education and job training. “The JOBS that will provide for LIVING and then cater to LIFESTYLE”. It should incorporate infrastructural planning for job creation, community growth and environmental responsibility.
The state government requires to seriously and deeply think to bring in PRIVATE players.Private participants can contribute expertise and proficiency in areas such as urban planning, design, construction, technology, logistics, and Sales & Marketing. Typically, PPPs in urban development imply a long-term relationship that spans the project’s life-cycle. Emphasis on output areas encourages innovation focused on developing new, sustainable and cost-efficient methods and models. Each party does what it does best; the Government can focus on its administrative and regulatory know-how, and the private sector can focus on operational and execution aspects. Delineating lines can sometimes blur, with stakeholder-focused, strategic collaboration resulting in a win-win-win situation that benefits communities, economic growth and the environment.

There is a limitless world of possibilities for our collective urban future in Bihar. And there are examples all around the world where Public-Private Partnerships are producing innovative and successful urban models. For example, in 2015, Washington DC (USA) entered a power purchase agreement (PPA) with a renewable energy partner to prevent the release of air pollutants via alternatives such as wind power. 

Sustainable urbanization is today universally acknowledged as a vital contributor to achieving global climate change goals. Therefore, the urban development in BIHAR too needs to seek to reduce its emissions intensity. Patna already has alarming levels of air pollutants. Planned and holistic urban development that embraces both the environment and sustainable growth of the built environment will be the key for urbanizing BIHAR. A sharp focus on adaptation and resilience, driven by adequate infrastructural planning, clean energy, green construction, multi-format housing and technology as an enabler can help drive BIHAR’s urban agenda in the right direction. This will require active participation by both the private and public sectors to promote responsible urbanization and evolve sustainable frameworks that can collectively nurture the future of BIHAR’s cities.

We have before us the opportunity to accord urban planning and development the importance it truly deserves in BIHAR’s growth journey. It is an opportunity for collaboration that has direct implications for future generations - an opportunity for many lifetimes that we cannot afford to miss.

Property Patna
Buy Sell Rent Patna

Sunday, 4 February 2018

Urban revitalization :- The collaborative approach to city development a Must for BIHAR.

Buy Sell Rent Patna
URBANIZATION
As per UN estimates, urban areas in India already contribute more than 60 per cent to GDP. Unfortunately our state Bihar is only 11% urbanized. But it also means we have the largest room to grow. The policymakers sitting in Patna should realize that Urbanization is imminent - an all-pervading natural progression driven by a combination of organic and inorganic growth factors (rural-urban migration, population growth, etc.) and involving both brownfield and greenfield development. New urban ecosystems will need to be built for the future, in a structured manner, and with adequate control on usage of natural resources and energy.

No doubt that city are responsible for the consumption of energy and natural resources, for green-house gas emissions and are often home to rising socio-economic inequity. However, urban history (Bihar had a great urban culture in ANCIENT TIMES) has demonstrated time and again that cities can also be sites of innovation, environmental resilience and preparedness, commerce, research and cultural growth. If planned well, urbanization need not be decoupled from resource efficiency, or environmental and socioeconomic responsiveness. In fact the State government should realize that urbanization can play a key role in eradicating rural poverty; research in India towards this end has indicated that an increase in urban population is directly correlated to a decrease in rural poverty.

Our state’s urban future should increasingly be a focus area for not just experts representing government, business and academia, but also for civil society.
We must clearly identify and articulate policies and tools that can give our state fast-growing, sustainable and inclusive cities that can catapult the urban experience for all in Bihar.
Buy Sell Rent Patna


This is no easy task though, given the diversity of our populations and the infrastructural and environmental tasks before us. The challenge will be in meeting the ever-growing expectations of city capabilities. No longer will success be judged only on economic and architectural merit, but also on performance as a source of inspiration, productivity improvement and well-being support. This is perhaps where the private sector can play a deeper and more meaningful role. An enabling environment with a long-term vision encompassing collaborative development and governance models, the ‘right’ infrastructure and capacity building, can realize urban development in Bihar that is sustainable, inclusive and equitable.