Skip to main content

RERA BIHAR


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.
Buy Sell Rent Patna
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, but it is functional.
Once the home buyer has decided to buy a flat in Patna, the RERA BIHAR website can really be helpful in making a choice. The buyer needs to log on to t Bihar’s RERA website; (https://nagarseva.bihar.gov.in/rerabihar/home), the list of registered projects in your selected area will be displayed.
A buyer can also view the pertinent details of the project he is interested in Patna such as name of the builder in Patna along with its address, (and) track record in the market. Finding a reliable builder in Patna is among the most important factors for a home-buyer in Patna. Therefore, a track record of timely delivery and quality of construction matters a lot.
“Home-buyers can easily find the complete set of documents relating to the residential project on the Bihar RERA website, right from approvals to application for occupation certificate, along with the expected timeline projection. It will be possible to know the details about the sale of a project, which was not easily made known,” says KEY ACCOUNT Manager, Vikash Kumar of hyper-local real estate portal for Patna, www.buysellrentpatna.in
If you are planning to buy an apartment in an under-construction project, it is good to know how many units have been booked and how many are left. This indicates demand and interest of buyers in the particular project. Also, a real estate agent will not be able to mislead you, stating that only a few units are left and you should book quickly. For under-construction projects, it is important to know if its construction is going as per schedule. You can find “the date that the developer has committed for the project to be completed, as well as any revisions of this date; the current stage of development, information on the support infrastructure like water, electricity and internal roads, along with the progress made on them,” added Vikash Kumar.
Real estate agents in Patna have been known to trick home-buyers with misleading claims about projects. Earlier, the agents were not held accountable and did not have to register. In fact, the services of a real estate agent were not even a part of the formal process in most cases. Under RERA, they too have to register with the authority.
Thus, on the website you can also find out the names of real estate agents who are authorized to deal in particular projects. According to the Act, a ‘real estate agent’ is anyone who acts on behalf of one person in a transaction of plot, apartment or building and receives a remuneration as commission or otherwise. This includes property dealers, brokers and any other middlemen. They are not allowed to facilitate the sale or purchase of or act on behalf of any person to facilitate the sale or purchase of any plot, apartment or building, in a real estate project or part of it, without having a registration number.
The real estate regulator’s website is supposed to provide a lot of information to the public. Bihar RERA (https://nagarseva.bihar.gov.in/rerabihar/home) website is functional. But BIHAR RERA website is not so well populated with information on developers, projects and agents till now. In our state, home-buyers have to wait longer to be able to use the regulator’s website fully in their home-buying process.
BIHAR RERA WEBSITE


Comments

  1. Wow Really Very nice post Such a useful information thanks for sharing
    Home For Rent

    ReplyDelete
  2. I'm not sure exactly why but this website is loading very slow for me. Is anyone else having this problem or is it a problem on my end? I'll check back later on and see if the problem still exists. alex shcolyar

    ReplyDelete

Post a Comment

Popular posts from this blog

Naubatpur; an ace investment destination for land buyers in Patna

  If you want to put your money somewhere and forget about it, buying land in suburbs of Patna like Naubatpur could be the investment vehicle you’re looking for. Think about it: land is a long-term, tangible asset that  doesn’t  wear out and  doesn’t  depreciate. If you go into investing in land with the intent of holding  the right property for the long-term , it can make a lot more profits than any other investment asset class out there. Buildings can be replaced and demolished, whereas  land is a valuable and finite resource , with only limited quantities available. And Bihar has a population of 15 Crores and per capita income of Biharis are increasing in double digits. Land investing is for the patient, smart investor, someone who is willing to hold for the long-term or pass it on as a legacy. It’s for the investor who is looking ahead for 10 – 15 years. Land is a smart long-term hold, allowing you to win the benefits of rising values. Especially if you buy in an area like Naubat

5 TOP LOCATIONS TO INVEST IN LAND IN PATNA

  How to pick a desirable Investment location in Patna Real Estate? There are a lot of factors that are important when it comes to select a property to invest in Patna real estate. A great location is one of the most important factors. However, finding out whether a property in Patna has qualities that you are interested in and a great location suitable for investment; requires quite a bit of research and even search. It's important to recognize that the locals are an invaluable source of knowledge about any location for investment in Patna real estate . Just mention to someone in a local chai dukaan that you are looking to buy land in the area !! You'll find that people are more than willing to share knowledge and insights about that area. You will be told even about the number of transactions going on in recent times and even tentative prices prevailing in that area in that chai dukaan . Locals can give pointers as to the most profitable locations in Patna real estate.

WHAT IS THE MEANING OF “AFFORDABLE” FOR HOME BUYERS IN 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 around Rs 75000/- monthly income ( ear