I know you are searching for the best price along with the best properties to invest in Patna. Your confusion is which is the suitable place for you to invest in Patna? Different places have flexible real estate prices. The big question is all places sound good with respect to amenities. So how to make the final decision regarding investment in Patna real estate? Not to worry after deep research we have listed best localities in Patna for you only. Below are full details of property rates in Patna.
Patna is the capital city and the largest city of Bihar. It is located in the southern part of the river Ganga. In the last few years, Patna has seen unexpected growth and development in terms of infrastructure and industries.
Along with that, there are many properties in Patna are under development. So many people have invested in the properties here. Investing in a property is always a wise thing to do. Property rates in Patna have increased in recent years.
As I mentioned earlier that in recent years there has been an unexpected increase in the property rates in Patna due to inflation. This has impacted investors at a great length.
We all know that investing in the right property at the right time can give you amazing returns. The prices of properties are quite high in Patna.
That is why investors are not getting any buyers for properties that they bought even 4-5 years back.
Due to inflation which results in the rise of the cost of food & other essential products. The prices of other things increase with it. But it is pretty problematic for the people of Patna.
As the price of goods increases but their income remains the same. This poses a strain on their financial condition to some extent.
Another reason why property rates in Patna are so high is that Patna is becoming the urban hub of Bihar. Other parts of Bihar is not so urbanized. That is why more and more people decided to settle in Patna.
There are much better job opportunities and good educational institutes in Patna than any other district in Bihar. This also puts a lot of pressure and that can be considered as one of the reasons why the prices of properties are so high in Patna.
The property price in Patna is expected to fall or remain the same in the coming years mainly due to inflation. Also, their income does not increase with inflation.
So, buyers are in a hurry to take loans from banks. Because it would definitely lead to more financial crises in later years. The most tragic situation for developers & builders in Patna are price increment.
In the COVID scenario builders are planning to reduce the price of the property a bit so that people can actually afford it.
Property Price in Patna, area and sector-wise
Property prices and rates in Patna keeps on fluctuating. Different areas have different price ranges for each property. Property prices depend on location and some other factors. For example, a posh locality will have much higher property prices compared to other areas in Patna. Property price highly depends on the features of the apartment too. If it is of more square feet, the price will be more too. Below, I have listed the property price in Patna, area, and sector-wise.
1.Danapur
Danapur is present on the outskirts of Patna. It is included in the Patna Metropolitan Region. For those who prefer a calm and serene environment to live in, this is the perfect place for them.
- The average price per square feet in Danapur is Rs. 3,850.77
- The price range per square feet is Rs. 1,231- Rs. 4,191
- There has been a decrease of 34.7% in the property rates in Danapur.
2.Bailey Road
Bailey road is one of the most prominent residential areas in Patna. It runs through the heart of the city. This road connects Patna to Danapur and other industrial sectors like Ptliputra Industrial Estate.
- The average price per square feet in Bailey Road is Rs. 5,469.04
- The price range per square feet is Rs. 3,000- Rs. 6,095
- There has been a rise of 20.2% in the property prices in Bailey Road.
3.Gola Road
Gola Road is a popular locality present in Patna. Many residential properties have been built here. Some projects are still under construction. The pin code of Gola Road is 800001.
- The average price per square feet in Gola Road is Rs. 6,383.82
- The price range per square feet is Rs. 3,443- Rs. 8,191
- There has been a rise of 51.8% in the property prices in Gola Road.
4.Boring Road
Boring Road is located in the Northern Parts of Patna. It is quite a popular locality for residential and commercial use. It is developing at a fast pace and it is well connected to the industrial hubs of the city. Officially, Boring Road is known as Jai Prakash Narayan Path.
- The average price per square feet in Boring Road is Rs. 5,572.16
- The price range per square feet is Rs. 5,500- Rs. 5,600
- There has been a rise of 21.2% in the property prices in Boring Road.
5.Patliputra Colony
Pataliputra Colony is a popular locality in Patna. This area is growing fast in terms of industrial development. It has good roads and there’s ample park space.
- The average price per square feet is Rs. 4,644.15
- The price range per square feet is Rs. 4,123- Rs. 5,882
- There has been a rise of 21.3% in the property prices in Patliputra Colony since
6.Buddha Colony
Buddha Colony in Patna is a popular locality. The property price of this area is a bit higher than in other regions. Some of the neighboring localities are Manipura and Rajapur.
- The average price per square feet is Rs. 8098
- The price range per square feet is Rs. 4,239- Rs. 11,957
- There has been a rise of 3.7% in the property prices in Buddha Colony.
Property Trends In Patna After COVID
The property trend shows the overall condition of the real estate market in Patna. The price trends help an investor to know if it is the right time to invest or sell any property. The average price of properties in Patna is currently Rs. 45.45 lacs. Whereas the property prices start from Rs. 1. 49 lacs. Currently, there are around 36 localities in Patna showing an upward trend. And around 22 localities in Patna showing a downward trend.
In the last 10-15 years, the properties in Patna have been much overpriced in certain areas. It is predicted that the prices of properties will be stagnant or maybe even fall a little bit in the coming years. Below I have mentioned the property trends of some popular localities in Patna.
1.Danapur
There has been a gradual increase in the price range of properties in Danapur since 2015.
In 2015, July-September, the average range value of properties was Rs. 2,546 per square feet while the upper range value being Rs 3,367 per square foot and the lower range value is Rs. 1,725 per square feet
In 2016, October-December, the average range value of properties in Danapur was Rs. 2,289 per square foot while the upper range value was Rs. 2,877 per square foot and the lower range value was Rs. 1,702 per square feet.
In 2017, July-September, the average price of properties was Rs. 2,312/ sqft. The upper and lower range value was Rs. 2,910/ Sq-ft and Rs. 1,714/ Sq-ft respectively.
In 2018, April-June, the average range value of property was Rs. 3,025 per square feet. The upper range value was Rs. 3,712 per square feet and the lower range value was Rs. 2,339 per square feet.
In 2019, April-June, the average range value was Rs. 3,560 per square feet. While the upper range value was Rs. 4,234 per square feet and lower range value was Rs. 2,885 per square feet.
In 2020, July-September, the average range value was Rs. 3,962 per square feet and the upper and the lower range value of the properties was Rs. 4,709 per square feet and Rs. 3,214 per square feet respectively.
2.Bailey Road
In 2015, July-September, the average range value of properties in Bailey Road was Rs. 3,601per square feet. The upper range value being Rs. 4,047 per square feet and the lower range value are Rs. 3,155 per square feet.
In 2016, October-December, the average range value of properties was Rs. 3,868 per square foot. The upper and lower range value was Rs. 4,626 per square feet and Rs. 3,110 per square feet respectively.
In 2017, October-December, the average range value was Rs. 3,919/ sq.ft while the upper range was Rs. 4,843/ sq. ft and the lower range was Rs. 2,995/ sq. ft.
In 2018, October-December, the average range value was Rs. 4,477 per square foot. The upper and the lower range value was Rs. 5,527 per square feet and Rs. 3,427 per square feet respectively.
In 2019, October-December, the average range value was Rs. 4,655 per square foot. The upper range value being Rs. 5,570 per square feet and the lower range value is Rs. 3,739 per square feet.
In 2020, July-September, the average range value was Rs. 4,990/ sq. ft and the upper and lower range value was Rs. 5,978 per square feet and Rs. 4,002 per square feet respectively.
3.Gola Road
In 2018, January-March, the average range value was Rs. 3,611 per square foot. The upper and the lower range value was Rs. 4,246 per square feet and Rs. 2,976 per square feet respectively.
In 2018, July-September, the average range value was Rs. 3,678/ sq. ft. The upper range value is Rs. 4,258/ sq. ft and the lower range value is Rs. 3,097/ sq. ft.
In 2020, January-March, the average range value was Rs. 4,417/ sq.ft. The upper and lower range value being Rs. 5,037 and Rs. 3,797/ sq. ft respectively.
In 2020, July-September, the average range value was Rs. 4,587/ sq. ft. The upper and the lower range value was Rs. 5,397/ sq. ft and Rs. 3,777/ sq. ft.
Conclusion on Property Rates In Patna
I really hope this article was helpful for you to get a clear idea about Property rates in Patna as well as real estate trends in Patna. It is believed that the increase in property prices in Patna is due to inflation. As the prices of other goods keep on increasing so do the prices of the property increase.
I have given you detailed description of property rates and trends in different parts of Patna. Now you can choose the best place in Patna according to your budget. Also, you can buy flats & residential projects in Patna of your choice.
Many residential plots & lands are also waiting for you. It is a great time to invest in Patna real estate. Do comment us your confusion or suggestion regarding property price. We will answer all your comments.