Young population from Patna , attract towards NCR region.

Q: What is the reason behind this? Why people are advised to have a property in Noida or NCR ? Is this because of work / job opportunity or investment option ?

Subho Mallik, Delhi

30th January 2015

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Replies (4)

Hi Mr Subho,

As per different sources, properties in Noida are in the size range of 450-1400 sq ft, those in the upcoming areas of Patna like Bihta, Sampatchak, Phulwari Sharif etc are in the range of 600-1200 sq ft. Prices for these are Rs 2,000-6,500 per sq ft depending upon whether the area is developed or still needs infrastructural lift.

Shilpa, Noida

30th January 2015

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@ Subho,
While lower prices may attract you, the high density population is worrying. Landed gentry in the villages are now able to send their children to Patna for education. Over time, 40 per cent buyers in Patna are the wealthy masses from adjoining villages. Hence, those with better education are skipping out because the city is becoming excessively congested and development is doubtful.

Neha Srivastava, Delhi-NCR

31st January 2015

@ Mr Subho,
If you are looking for an established locality in Patna, prices are very high. This is another reason why buyers prefer rental properties and do not wish to compromise on their lifestyle. Malls, multiplexes, pubs, gaming zones, fashion boutiques, prestigious convent schools, renowned colleges, automobile showrooms and hangouts are at a convenient distance and thus the high values.

Rahul Thakur, Patna

1st February 2015

Hi Guys,
In my point of view, in the upcoming areas of Noida, the crowd cosmopolitan and depends on the number of job markets close to the area. Noida has the capacity to draw rental in the range of Rs 5,000-30,000 monthly. Connectivity and better planning will help Noida in the long run. Rental returns in the established localities of Patna is close to what upcoming areas of Noida will yield in the next five years. Thus, those with a long term perspective are buying in Noida or at least keeping their options open.

Ranbinder Yadav, Patna

2nd February 2015

Hi Subho,
Today, a handful of areas in Patna such as Boring Road, Pataliputra Colony, Kankarbagh, Doctor’s Colony, Ashiana Nagar and Rajendra Nagar are preferred for the amenities they provide. Space constraints has pushed Patna outwards to areas like Danapur and Sonepur. But considering the number of families that move out of the city for work or higher education, many first time buyers are wondering how to zero down on any one city?

Prasad, Noida

30th January 2015

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Hi Mr Subho,

I heard from different sources that ,Patna has been classified into five zones in terms of MVR of flats. Posh areas such as Frazer Road, Nageshwar Colony, Boring Road and parts of central Patna fall in zone V for which the MVR has been reduced by 10%. Also for Pataliputra, Sheikhpura and Jagdeo Path, which fall in zone IV, the MVR has been slashed by 10 to 15%. In zone III to I, which comprise Kankarbagh, Old Bypass, Ramna Road, Kunkun Singh lane, Shalimar Sweets and remaining parts of the district, the MVR has been slashed from 15% to 25%.

Santosh TR,

30th January 2015

Comment

Yes, that's right. I think you are talking about the news that the city developers have welcomed the government's move to slash the Minimum Value Register (MVR) of land and flats as they believe the new rates will beckon more buyers due to reduced price of land. It is a win-win situation for all - buyers, developers as well the as government - as there will be an increase in the number of registration for properties in the district, believe real estate pundits.

Amreesh Murugan,

30th January 2015

Hi Subho,
As per my knowledge, National Capital Region in India is a name for the conurbation or metropolitan area which encompasses area of Delhi including its neighboring states : Haryana, Uttar Pradesh and Rajasthan. Infrastructure improvement in the NCR region, along with the presence of international and domestic companies, has increased the opportunities of Real Estate Market in and around NCR.

Indu dixit, Noida

30th January 2015

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