Patna Real Estate Market Forecast 2018 | Property Price & Trends
Patna which is the capital and the largest city in the state of Bihar has a population of 2.79 Million according to the 2017 census. It due to this, stands as the biggest city in the east of India, after Kolkata. With a population growth rate of 22.34% over the decade 2001-2011 and a current population density of 1,823 inhabitants per square kilometer (4,720/sq. mi), the city statistically clamors regarding accommodation.
So, this was an Overview on Patna.
Now let’s come to the point for which you guys are here in this blog, that is:
Property Rates & Price Trends in Patna – 2018.
The current price trends of Patna clearly reveals the overall direction of the real estate market. These trends aware investor of the fact that whether it is the correct time to buy or sell properties in Patna or not.
Currently, the price of properties in Patna begins from around ₹ 100000 while the average price of properties in Patna is ₹ 28.35 lacs. There are around 30 localities in Patna which are showing up an upward price trend, while 22 are there that are witnessing a downward trend.
Saakaar Constructions provides briefed information onto the available price trends regarding several properties for sale in Patna. According to realty consultants, the best time to buy a property in Patna is when the market is correcting. Nonetheless knowing when a locality in Patna will be at the lowest price point is difficult to predict.
We at Saakaar Constructions, being the top construction company in Patna, Bihar have tried our level best to furnish the buyers with efficient researched data onto the average per square feet rate. This has been done mainly to help out the buyers in making an informed decision.
Saakaar completely understands that information about the latest price trends of properties for sale in Patna helps out buyers and sellers making the most out of the market conditions.
Thus, has presented here some of the latest stats to help buyers and sellers in Patna
- The total number of properties listed in Patna are 2963.
- The number of localities in Patna showing an upward trend is 36.
- The number of localities in Patna showing a downward trend are 22.
- The price of properties in Patna begins from around ₹ 100000.
- The average price of properties in Patna is ₹ 28.35 lacs
- The most expensive property listed in Patna is priced ₹ 12.50 crore.
Impact of Demonetization & GST and RERA on Real Estate in Patna
Post demonetization and execution of GST and RERA, registration of properties were claimed to have dropped to 25-30%. Nonetheless, no new approvals have been granted in Patna, Bihar since 2012. Thus, assumptions are high that the prospects of reality in Patna will now look upward only.