WHAT IS THE MEANING OF “AFFORDABLE” FOR HOME BUYERS IN PATNA?

Q: A survey conducted by our company on 100 flats’ buyers in Patna found that two out of every three homebuyer in Patna sank 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, homebuyers 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.