Real Estate Bubble in Patna

Last half decade was a great story to tell for real-estate industry in Patna, the price of land and flats touched new heights. In 2005 apartments were available at around Rs. 300 per sq. Feet now it has touched around 10 times higher value of Rs. 3,000 per sq. feet. I can remember a plot of around 2000 sq. feet which was offered at a consolidated price of Rs. 50,000 near Baur Jail area, the same land is again available for sale after going through many owners since then now it is being offered at a price of Rs. 28,00,000.


No other investment can yield such profit for an investor. The period of 2000-05 was an ideal time for investment in land and buildings in Patna, today the jungle of concrete is standing tall all around but now it is looking for potential buyers unlike previous years when the queue of buyers was always 10 times longer than the availability. Big size advertisements can be seen in newspapers with reduced price of new offerings. Few years back the scene was different, no such advertisement was really needed to sell the project; in fact the the builders had enjoied the sale of whole project even before the bhoomi pujan. And untill completion, the flats were sold many times and everytime at a higher price.

The decade has also witnessed the ressession in real estate market in other parts of the country but Patna never felt it in fact it was enjoying its golden period at the same time.

Investment came through many channels, but most of money invested in projects in its early days ware from the bahubali and political families. Undoubtedly it was a perfect destination for investment as it was producing extremely higher return on investment in a short period of time and also it was risk free.

Now the bubble is about to brust. As the demand has fallen and still many mega size real estate projects is looking for its buyers. The trend of rising price on weekly and monthly basis is now vanished. In Bihar, specially in Patna and nearby area the real estate industry has grown rapidly, thousands of construction, supplier, and marketing compnay has been registered and started its operations. Many of these companies are now an inspiring story to tell. I am not expecting a fall in price but neither a steap rise anymore.

31 comments:

Unknown said...

Hello, very nice blog about Real Estate In Patna. thanks for sharing such a useful information for real estate investors and for buyers.

Unknown said...

Bubble is expected to burst.
Property rate will go up after april 2014 elections.
Good information for buyers as well as investors.
Real Estate Consultancy in Patna are thorough professionals in real sector of Patna.

Unknown said...

If civic bodies & government go hand in hand then there are good chances of development & further growth in Patna.
Real Estate Services patna can guide you thoroughly.

Richard H. Black said...

Hello, this weekend is good for me, since this time i am reading this enormous informative article here at my home. toronto homes

Richard H. Black said...

I haven’t any word to appreciate this post.....Really i am impressed from this post....the person who create this post it was a great human..thanks for shared this with us. Virtual Staging

Hurain.00 said...

I wanted to thank you for this excellent read!! I definitely loved every little bit of it. I have you bookmarked your site to check out the new stuff you post. real estate cheat sheet

Anonymous said...

If you are looking for the most prominent Dubai Real Estate company, then it would be good to choose a leading company like Indus Real Estate. It’s a famous enterprise offers their customers a property at a low price as per their choice. For additional information about the firm services you can visit the official website.

Anonymous said...

Rental properties also come under the service tax with certain conditions. If you are seeking for the Room for Rent in Dubai then you must get in touch with Indus Real Estate. It’s a leading enterprise that helps many people who look for the best Property. If you are one of them who look for best property then we always ready to help you.

Branding Service said...

Our conviction is that this is a brilliant chance to act - maybe a once in an age opportunity. Possibly it isn't an ideal opportunity to sell finished land advancement ventures right now, however it is surely an incredible occasion to make sure about the improvement site and get advancement arranging endorsement.Homes for sale in Huntington Hills

Charli james said...

Wow! Such an amazing and helpful post this is. I really really love it. It's so good and so awesome. I am just amazed. I hope that you continue to do your work like this in the future also expired listing leads

Optimus Prime said...

When your website or blog goes live for the first time, it is exciting. That is until you realize no one but you and your. Adwords for Property Management in Houston Texas

BRIAN MONTGOMERY said...

Impressive web site, Distinguished feedback that can tackle. Im moving forward and may apply to my current job as a pet sitter, which is very enjoyable, but I need to additional expand. Regards.cash buyer real estate

silent.john said...

A very awesome blog post. We are really grateful for your blog post. You will find a lot of approaches after visiting your post. duplex buying

SHAHZAIB said...

I think that thanks for the valuabe information and insights you have so provided here. ajman properties

Unknown said...

We have sell some products of different custom boxes.it is very useful and very low price please visits this site thanks and please share this post with your friends. best house selling offer in Florida

Optimus Prime said...

This is my first time visit to your blog and I am very interested in the articles that you serve. Provide enough knowledge for me. Thank you for sharing useful and don't forget, keep sharing useful info: condo for sale

sid seo said...

I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post. sowparnika ashiyana

Charli james said...

When your website or blog goes live for the first time, it is exciting. That is until you realize no one but you and your. real estate forms ontario

silent.john said...

Thanks for the blog loaded with so many information. Stopping by your blog helped me to get what I was looking for. riverwalk apartments philadelphia

seo said...

I would like to say that this blog really convinced me to do it! Thanks, very good post. Immobiliere Algérie العقارات

BRIAN MONTGOMERY said...

Thank you for some other informative website. The pace may just I get that kind of information written in such a perfect method? I have a venture that I am simply now running on, and I’ve been at the glance out for such info. Multi Unit Properties for Sale in Washington DC

Anonymous said...

I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well.. hausverwalter duisburg

Optimus Prime said...

Thank you for some other informative blog. Where else could I get that type of information written in such an ideal means? I have a mission that I’m just now working on, and I have been at the look out for such information. Homes For Sale By Owner

David said...

Plainly there will be monstrous rental interest for convenience that a property financial backer who purchases very much found land can profit by. Life in Egypt

faizan said...

There is some exciting news for foreign investors due to recent geo-political developments and the emergence of several financial factors. This coalescence of events, has at its core, the major drop in the price of US real estate, combined with the exodus of capital from Russia and China. Among foreign investors this has suddenly and significantly produced a demand for real estate in California. Our research shows that China alone, spent $22 billion on U.S. housing in the last 12 months, much more than they spent the year before. Chinese in particular have a great advantage driven by their strong domestic economy, a stable exchange rate, increased access to credit and desire for diversification and secure investments. We can cite several reasons for this rise in demand for US Real Estate by foreign Investors, but the primary attraction is the global recognition of the fact that the United States is currently enjoying an economy that is growing relative to other developed nations. Couple that growth and stability with the fact that the US has a transparent legal system which creates an easy avenue for non-U.S. citizens to invest, and what we have is a perfect alignment of both timing and financial law... creating prime opportunity! The US also imposes no currency controls, making it easy to divest, which makes the prospect of Investment in US Real Estate even more attractive. los angeles luxury real estate

sid seo said...

This blog is so nice to me. I will keep on coming here again and again. Visit my link as well.. فروش سهام ارتش

mahnoor said...

There is some exciting news for foreign investors due to recent geo-political developments and the emergence of several financial factors. This coalescence of events, has at its core, the major drop in the price of US real estate, combined with the exodus of capital from Russia and China. Among foreign investors this has suddenly and significantly produced a demand for real estate in California. Our research shows that China alone, spent $22 billion on U.S. housing in the last 12 months, much more than they spent the year before. Chinese in particular have a great advantage driven by their strong domestic economy, a stable exchange rate, increased access to credit and desire for diversification and secure investments. We can cite several reasons for this rise in demand for US Real Estate by foreign Investors, but the primary attraction is the global recognition of the fact that the United States is currently enjoying an economy that is growing relative to other developed nations. Couple that growth and stability with the fact that the US has a transparent legal system which creates an easy avenue for non-U.S. citizens to invest, and what we have is a perfect alignment of both timing and financial law... creating prime opportunity! The US also imposes no currency controls, making it easy to divest, which makes the prospect of Investment in US Real Estate even more attractive. upper east side condos for sale

liperk said...

Your work is very good and I appreciate you and hopping for some more informative posts. Thank you for sharing great information to us. chen zhi prince holding group

Alexander said...

One great place that we have found to begin if you're seeking to find or need to list in a global vacation rental directory is Vacation Home Rentals. twain harte rentals

Anonymous said...

so happy to find good place to many here in the post, the writing is just great, thanks for the post. Homes for sale in horseshoe bay

ZoYa SeVen said...

Nice post! This is a very nice blog that I will definitively come back to more times this year! Thanks for informative post. mokena IL realtors

Powered by Blogger.