Why Bihar is the best real estate destination?

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Patna has a population of 1.7 million according to the 2011 census and stands as the biggest city in the east of India, after Kolkata. With a population growth rate of 22.34% between 2001 and 2011.

Connectivity:

Patna is well connected by road, rail, and air. It is located about 100 km south of national East – West Highway corridor. Recently, the state government gave green signal to a Rs. 3000 crore bridge to be built parallel to the existing Gandhi Setu on the River Ganges.  A new 8-km road at the outer limit of the city on the northern part of the state capital is expected to become fully functional by May 2018. In 2009, Airports Authority of India appraised 46 airports of the country. Patna’s Lok Nayak Jaiprakash International Airport ranked no. 1 in terms of growth rate of domestic passengers and aircraft movement. Consequently, Airports Authority of India proposed to develop a civil enclave at Bihta Air Force Station which is 40 kms away to serve as the new airport for Patna.

Patna lies between Howrah-Delhi main line, the busiest rail route in India. The city boasts of 5 railway stations, Patna Junction being the primary. Danapur Cantt and Patna Sahib Stations are on the fringe, Rajendra Nagar Terminal and Patliputra Station have come into operation inside town.

Patna Metro Rail plan is underway to serve very quick transit system. Planned to be constructed at an estimated cost of Rs. 14,000 crores on PPP basis, it will have 5 lines covering a length of 60 kilometers.

Utilities:

The public water distribution system, administered by Patna Jal Parishad consists of 98 tube wells and 23 overhead reservoirs that comfortably provide to the local demand.

The city’s sewerage system was built in 1936 and at present has 4 sewerage treatment plants. The drainage system, however, leaves much to be desired in many areas, especially during the monsoons.

Electricity supply to the city is regulated and distributed by the state-owned South Bihar Power Distribution Corporation Limited.

Real Estate

The state government has recently approved Bihar Real Estate (Regulation & Development) Act 2017, which follows the centre notified Real Estate (Regulation & Development) Act of March 2016. It will soon also improve the Bihar Building Bylaws, 2014 with special importance on ease of doing business, online processing and mixed use of land for commercial and residential purposes.

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