10 Important Real Estate Key Trends in India

The real estate market in India has seen a lot of transformation in the past decade. It has become one of the most promising sectors for investment. It is providing well returns too. It is safer than other investment plans like – gold or mutual fund. But this transformation is possible for these 10 important real estate key trends in India.

The real estate industry in India has seen a lot of ups and downs in past few years. But with developing technology, rising demand for property, and the help of the Government – the real estate industry is growing at a good pace. With a very high requirement of customers, the real estate companies have started to spread the business with new enthusiasm. There are a lot of reasons that help the real estate industry to grow in a bigger manner. 

Let us see the 10 important real estate key trends in India that help to shape the real estate market too. These points are important before investing in the real estate business in India.

1.    1. The industry of real estate in India is emerging at a rapid speed after seeing a low time. It is becoming a promising industry for investment. The real estate industry is growing at a pace of 9% per annum and it is expected that the real market will reach $180 billion by the year 2020. As reported by the Indian Brand Equity Foundation, the real estate sector in India is expected to reach a market size of US$1 trillion by 2030 and it will also contribute 13 percent of the country’s GDP by 2025.

2. India is emerging with the rapid growth of the IT sectors. The sudden growth of urbanization in India also has fuelled the real estate market in India. IT companies have made an impact on the real estate business. With the growing demand for jobs in IT companies, properties for a living have also become very essential. And for that reason, many big real estate brands are starting to invest in the development of real estate property. Big cities like – Mumbai, Delhi, Pune, Bangalore, etc, have high demands for property buying.

3. Recently, the government has decided to develop suburban cities as well. And because of this great initiative, the sub-urban areas like – Patna, Goa, etc. are also developing. Recently, Patna is becoming the hub for IT sector companies. And also, it is the fifth fastest-growing city in India. And that is why property in Patna is getting a positive response from the property buyers.

4.  As we all know that for various reasons the real estate market is growing in India. But, the Government of India has also helped in this growth. The initiatives like “Pradhan Mantri Awaas Yojana” has hiked the demand of residential lands.

5.  It is really helpful that because of some initiatives taken by the Indian Government, the real estate business has become a lot more secure place to invest. The RERA act established by The government had actually given more strength to the homebuyers. As the real estate industry is getting very crowded and huge, the Government has set up RERA committees in every state for the security of the property buyers. The act keeps a strict eye on every builder and property dealer. And if any builder violates any rule of this act, the law can take strict penalties or action against that builder. This thing has given the property buyers a sense of security and that is why they are investing more into the real estate business.

6.  Over the past few years India has emerged a lot as a country. It is getting updated day by day. And for that reason, the demands of customers are changing over the years. The millennial culture is more leaned towards co-living spaces and rental spaces than residential spaces. The metro cities like – Mumbai, Pune, Delhi, Bangalore, etc. have demand for both rental properties as well as residential properties. Recently, Patna is also getting the attention for residential plots and rental property due to the heavy demand for jobs. Buying residential plots in these areas is a good place for investment. Property in Patna both residential and rental are in high demand nowadays.

7. Smart technology is the future of India. We are very much dependent on technology nowadays. And that is why home buyers are searching for property having upgraded technology. Customers are looking for smart homes, high-end technology in the houses or flats. These new requirements of customers are driving the builders to make the property with the latest technology. The up-gradation of technology ensures that customers can live their lives easily and happily. And the real estate market in India is taking this new side as an opportunity to flourish the business even more in future days.

8. The new age generation is preferring green technology more. Both buyers and sellers are getting more conscious about this thing. The developers are focusing on the usage of eco-friendly raw materials. Customers are also opting for eco-friendly technology that will help to sustain the living in a better way.

9. The real estate dealers are collaborating with the Government and starting to bring new projects for the customers. Not only these projects are very much budget-friendly for the middle-class buyers, but these projects are also offering facilities that are necessary for daily living. The projects are very comfortable with good infrastructure.

10. With time passing by everyone is leaning towards having a luxurious life. And to match up with these demands the builders have to start developing a property that will provide luxury and a divine experience to the home buyers.

So, with the list of key trends that are shaping real estate in India, it is definitely clear that the real estate market in India is growing at a quick speed. It certainly had some low times but now it has taken up a high speed of growth. And to match up with that speed and to invest wisely in the real estate business, you must consult with a prestigious real estate agent or company. They will help you to get a suitable project at a preferable price so that you can have your investment for the future in the best possible manner.

 

Reasons to buy a property or real estate in Patna

Patna, The capital of Bihar is also the largest city and one of the most populated cities in Bihar. Patna is becoming technologically updated. And it is becoming modern as a city really fast but it still has that touch of Indian culture and values. The real estate business is growing really fast in Patna. And people are tilting to buy property in Patna. Here are some reasons to buy a property or real estate in Patna.

Why Patna is becoming the new favorite?

As Patna has been the center of agriculture hub and trade center, it is growing really fast as a city. Also, Patna is developing so much in business that the World Bank has stated Patna as the second-best city in India to start up a business. Patna is also the 21^st fastest growing city in the world and the fifth fastest-growing city in India. Patna is emerging as an IT-based economy too.

And for all these reasons Patna is becoming the new favorite for the real estate business. Because with growing numbers of companies, the real estate business is also having a positive impact. Patna has become the hot property in Bihar in recent years. Patna has a lot of demanding areas that are becoming favorites for residential plots, flats, individual houses, and etc.

Top areas for real estate in Patna:

It is very important to pick the best area to buy real estate. It is a lifetime investment and you do not want to put it in the wrong place. So, you must keep in mind that the place you are thinking of buying real estate must provide you some important amenities like – good connectivity, easily available transport, a good number of educational institutes, hospitals, etc.

Now let’s see the top areas of Patna real estate:

1. Bailey Road, 2. Danapur Khagaul, 3. Khagaul Road, 4. Phulwari Sharif, 5. Bihta, 6. Gola Road, 7. Naubatpur, 8. Patliputra Colony,9. Ashiana Road, 10. Digha, 11. Chirora, 12. Abhimanyu Nagar, 13. Nehru Nagar, 14. New A G Colony,  15. Rajendra Nagar,  16. Rukanpura,  17.Raja Bazar, 18. Mithapur, 19. Boring Road, 20. Kankarbagh, 21. Jagdeo Path.

Besides these hot demanding areas, some other areas are also getting the attention of buyers. Those areas are –

·       Ram Krishna Puram

·       Sonepur

·       Shivala Par

·       Parsa

·       Rupaspur

·       Hajipur

·       New Patliputra

·       Ramjaipal Nagar

·       Gulzarbagh

·       Mahuabag

·       North Patel Nagar

·       Sampatchowk etc.

 

Reasons to buy real estate property in Patna:

As we previously discussed that Patna is becoming one of the top favorite cities in India, it is obvious that people will be eager to invest in real estate property in Patna. Because there are a lot of reasons to buy property in Patna. Some of they that are the most important are discussed below:

 1.    Patna is the largest and most popular city of Bihar. It is becoming the top favorite city of Bihar. It is well connected to the other important parts of Bihar as well. And that is why it is becoming the city in demand for property buyers.

2.     Also, Patna is growing fast in the economy. After the Green evolution, Patna’s economic condition was growing. Now, many IT-based companies are choosing Patna to build their offices and for that reason, Patna’s economic growth is going upwards day by day.

3.    Patna is the fifth fastest-growing city and 21^st fastest growing city in the world.

4.    Patna is well connected through highways, railways, airways to different cities. Also, the national airport is going to be built in Bihta. And for this reason, Patna is getting all the attention from property buyers.

5.    Patna metro will be a rapid transit for the city and it will be an example of the emerging India. It definitely is a positive point for the real estate business in Patna.

6.    Patna is becoming the place where a lot of famous leading brands are opening their offices. Tata consultancy also opened a new office in Patna in 2019. And also, many other brands are planning to open their new branches in Patna soon in the future.

7.    Patna has always been the hotspot for tourism. Nalanda, Bodh Gaya, etc. are some famous tourist spots in Patna. Also, it has one of the largest planetariums in Asia, the Patna Planetarium or Indira Gandhi Planetarium.

8.    Patna is going to be the World’s Longest Free Wi-Fi zone soon.

9.    The city also has some of the best educational institutes like - Chanakya National Law University, Aryabhatta Knowledge University, Indian Institute of Technology Patna, All India Institute of Medical Sciences Patna, National Institute of Fashion Technology Patna, etc. This is a very big plus point for the real estate business in Patna.

10.     A lot of projects are going to start in Patna that will help the development of the city as well as the hike of the real estate business in Patna.

11. As per the cost comparing to other big cities like – Ahmedabad, Chandigarh, Meerut, Bhopal, etc. Patna is a lot more pocket friendly. Buying flats or real estate in Patna is very affordable for middle-class people. You can easily find a suitable property on an affordable budget any day.

12. Patna has become one of the most favorite places for investment in Bihar.

13. Patna is one of the most colorful cities and very lively cities in India.

So, as you can see there is a lot of reasons to buy real estate property in Patna. And if you are planning to buy any kind of real estate projects in Patna, it will fulfill all your parameters. Patna real estate is going upwards day by day. It still has a lower and affordable price range than other big cities. So, it would be an advantage for you to buy flats or real estate projects in Patna soon. Because you definitely do not want to miss the chance to have the best option first than others.

The connectivity of the city, the cultural value, the educational facilities, the lavish lifestyle – everything just works best all together for Patna real estate. All the plots of Patna have a very high demanding architecture. So, it would be best to invest in Patna real estate.

Amenities You Must Check Before Buying Flat in Patna

Patna, The capital of Bihar is also the largest city and one of the most populated cities in Bihar. The modern and updated city of Patna is situated on the southern bank of the river Ganges. Patna held the place of major agricultural hub and center of trade for a long time. The economy of Patna is fast growing and it is also the fifth fastest-growing city in India. And for these reasons, Patna is catching the eye of people to buy a flat in Patna. Customers who are searching for good options of 2 BHK and 3 BHK flats will easily get flat to buy in Patna.

Patna is growing as a strong place in the real estate business. And it is becoming very easy to get an appropriate flat to buy for customers in Patna. Are you also looking for flats in Patna for sale? But before buying a flat read the amenities you must check before buying a flat in Patna. 

                   1.Availability of safe and free parking:

With a growing economy, most people have cars nowadays. But one of the biggest problems of having a car in a big city is not getting a parking place. And not having a parking spot makes people park their cars on the roads unsafely. So, if you are looking for a flat to buy in Patna, do not forget to check the availability of a safe and free parking space. Always check this amenity before moving into any flat as it is a very important amenity to have while buying flats. So, to have a happy and tension-free living in Patna check this amenity.

    2.Easily available transport and communication:

Availability of transport and good communication is a really important aspect before buying a property in Patna. You must check the transport that will connect you with the rest of the city. The lack of good communication will hamper your daily based travel or going to office or schools. And that is why before buying real estate properties in Patna, you must enquire about this amenity. Check the location of the property so that these things will be clear to you.

     3.Smart technology-based flats:

This is the era of technology. We need technology for every single and small thing. As everything is controlled by technology, smart and luxurious flats are also managed and dependent on hi-tech solutions. Advanced security system, alarm system for gas leakage, video calling doors are nowadays very common and highly demanded features. Some other technology-based features are – remote controlled lights or fans, etc. These features make the living experience in flats way better and more comfortable. Check if these amenities are available or not before buying a property in Patna.

4.Facilities of relaxation for kids and adults:

This age is full of competition. Everyone is struggling very hard to stay ahead in the competition than the other. And for that reason, everyone needs relaxation. Be it a kid or an adult, everyone needs some kind of fun and relaxation at the end of the day. And it is really important to have the facilities of relaxation for kids as well as adults in the flat premises. Some of the important facilities are – kids’ playground with the appropriate equipment, well-maintained garden, paved ways for jogging, equipped gym, swimming pool, etc. Having these amenities in your flat in Patna will enrich your daily life experience.

5.Having power backup:

Power backup is an essential thing to check. Because nowadays nobody can survive without power supply for hours. And with the rising temperature of India, it is very difficult in summer to sustain without proper power supply. So, if you are thinking to buy a flat in Patna check about the power backup of the property well to avoid unnecessary problems during power cuts. And do not forget to check about how many points you can use during a power cut.

6.Quality of rooms in the flat:

If you are moving into a new flat, one of the prime things is the quality of the rooms in that flat. Check how spacious the rooms are. Also, if the air and light ventilation are proper in the rooms, is a must checklist before buying a property in Patna. Because you do not want a flat that is suffocating and not healthy for you and your family.

7.Accessibility of proper educational institutes:

When you are buying a flat for your family, this amenity must be there in your head. Because you do not want to buy a property in such a place where educational institutes are hard to find. Check about the accessibility to schools and colleges from your property to have that relief. Choose to buy a flat in Patna where you can have a nice future for your children.

8.Availability of hospitals:

We do not know when any of our family members get sick. So, it is very important to have a hospital nearby in your locality. And for that reason, you must check the availability of hospitals near your flat that you are thinking to buy. You do not want a location that is far from the hospital. So, keep in mind this amenity before buying property or flat in Patna.

    Some other important checkpoints are below:

• Ø Location of the flat and the neighborhood
• Ø Balcony
• Ø Updated designs for kitchen
• Ø Bathroom designs and accessories
• Ø Unique interior decorations
• Ø Possible ways to change the interior if needed
• Ø Easy access to banks, markets, etc.
• Ø Availability of shopping malls, fun places for relaxation like – cinema halls, restaurants, etc.

 

 

So, we have completed the amenities you must check before buying a flat in Patna. Buying a flat is a very important decision. It is about spending the rest of your life in a place that you are choosing for yourself. So do not hurry or rush into any decisions. Check everything before making any deal and inquire about every detail that matters to you. If you feel confused about anything check the above points that will help you to choose your dream house.