Patna, with an encouraging influx of investment in the city’s real estate, is fast emerging as a top real estate destination in India. According to the recent report released by the World Bank, Patna is among the best places in India to set up a business. There are also a number of ongoing infrastructure projects that are changing the face of the city. All of this makes it the right time to invest in Patna’s real estate market.
Here are the top 4 reasons why you should be investing in Patna: –
Patna Metro Project
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The approval of Patna Metro project is expected to significantly boost the transportation system of the city. Top real estate companies in Patna have already started investing in the areas that will be connected by the first phase of the metro, which is Danapur to Mithapur Bypass. Other areas along the proposed routes are also expected to see a rise in the prices of the properties.
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Patna has been selected as one of the hundred cities to be developed as a smart city under the government’s Smart City Mission. This would mean that Patna would be able to boast of highly up-to-date provisions like uninterrupted electric supply, first rate traffic and transport system, and many other utilities. A special purpose company, Patna Smart City Limited, has been formed to implement the smart city project.
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Patna is the capital of the state of Bihar state, and is a well-renowned commercial center. There are also a number of well-established industrial hubs in the city. At present, Patna is the 21st fastest growing city in the world, the 5th fastest growing city in India, and is expected to grow at an annual rate of 3.72%.
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Patna has been an educational center from the times of old, and has a number of important government institutes at present, like Patna University, Chanakya Law University, Birla Insititute of Technology, Patna, Patna Medical College and All India Institute of Medical Sciences, Patna.
Patna is going to see surge in the prices of real estate in the forthcoming years, which can be gauged from the number of real estate projects coming up in the city. To that end, Top real estate companies in Patna have already invested in areas that are anticipated to see a rise in prices in the times to come. If Patna wasn’t on top of your list for real estate investment, it should be now.