The buyer of resale flat in Patna should have the entire chain of documents and agreements related to the resale flat in Patna that he is planning to purchase. Here is the list of the documents that the buyer of resale flat in Patna need to check before buying a resale flat in Patna:
Resale flat’s buyer in Patna should conduct a “Title Search” at the Registrar’s office in Patna to retrieve the chain of documents that reflect the history of all transactions regarding the re-sale flat in Patna. The title report from Registrar’s Office in Patna will provide a written analysis of the flat containing its description and other information related to resale flat in Patna.
It is very important to check that the resale flat is free from loan. To ensure that all the pending dues have been paid back to the bank, ask the seller of the resale flat in Patna to get a No Dues Certificate from the concerned bank.
An illegal construction by the builder in Patna or the resident of resale flat in Patna can cause trouble later. Hence, the buyer should ask the seller for building plan approved by Patna Nagar Nigam. If any extra construction has been carried out there is a risk that the flat in Patna can be demolished or declared unfit for occupancy in the future by local authorities as happened un the case of SANTOSHA COMPLEX in Bandar Bagicha, near Maurya Lok in Patna.
The Completion Certificate is issued by Patna Nagar Nigam on the completion of a residential project in Patna and an Occupancy Certificate is issued by Patna Nagar Nigam after the new residential project is declared suitable for occupancy. Thus, it is important to collect both documents in the previous owner’s name of the resale flat in Patna.
Make sure to check the Encumbrance Certificate (EC) issued by Registrar’s office in Patna for the resale flat in Patna which ensures that the property in Patna that you are buying in this the resale flat has no dues, the title of the property is clear and marketable, and it is not partially sold to some other person.
Ensure that all the bills have been paid on time or if there is anything that is yet to be paid by the owner of resale flat in Patna , it is paid before you enter the transaction. You should also make sure that the bills that the seller has produced against the flat is in the name of the owner of the flat whose name occurs on the Title.
You should check all the latest tax receipts before buying a resale flat in Patna like property tax to Patna Nagar Nigam.
Make sure to procure the original ‘Title Deed’ of the resale flat in Patna which authorizes the sale and transfer of property ownership from the seller to the buyer. It will contain the seller's name, details of the loans, if there are any, and other information pertaining to the flat in Patna. This verifies that the flat you are purchasing has a marketable title and ensures that the seller has clear ownership of it.
The Sale Deed is a document which acts as the chief proof of ownership for the sale of a property in the future. It must be registered in the Registrar's office after the purchase of the flat in Patna. Sale deed is the most important document that the buyer of resale flat in Patna has to acquire after the title of the flat is transferred to the buyer by the seller in the form of Title Deed.
Check and re-check and it is advisable to get an advocate to verify all legal documents before you pay for the flat in Patna.
Location of the resale flat is Nehru Nagar near Gosain Tola Mor.
The resale flat is 3 BHK and is on third floor out of 3 floors in the apartment.
The size of the resale flat is 1458 Sq.ft. SBA.
The resale flat is a well furnished and very well maintained flat and is 17 years old and has 2 parking spaces.
Offer Price for the resale flat in Patna at Patliputra Colony is Rs.65 Lakhs inclusive of parking and other charges.
Location of the resale flat is New Patliputra Colony.
The resale flat is 3 BHK and is on third floor out of six floors in the apartment.
The size of the resale flat is 1410 Sq.ft. SBA.
The resale flat is a well furnished and very well maintained flat and is 16 years old.
Offer Price for the resale flat in Patna at Patliputra Colony is Rs.75 Lakhs inclusive of parking and other charges.
Location of the resale flat is kankarbagh main road.
The resale flat is 2 BHK and is on first floor out of eight floors in the apartment.
The size of the resale flat is 935 Sq.ft. SBA.
The resale flat is a very well maintained flat and is 12 years old.
Offer Price for the resale flat in Patna at Kankarbagh is Rs.65 Lakhs inclusive of parking and other charges.
Location of the resale flat is Anisabad, Mitra Mandal Colony.
The resale flat is 3 BHK and is on third floor out of three floors in the apartment.
The size of the resale flat is 1425 Sq.ft. SBA.
The resale flat is a well furnished flat and is 9 years old.
Offer Price for the resale flat in Patna at Boring road is Rs.75 Lakhs inclusive of parking and other charges.
Location of the resale flat is Boring Road, Nageshwar Colony.
The resale flat is 3 BHK and is on second floor out of five floors in the apartment.
The size of the resale flat is 1335 Sq.ft. SBA.
The resale flat is a well furnished and very well maintained flat and is 11 years old.
Offer Price for the resale flat in Patna at Boring road is Rs.85 Lakhs inclusive of parking and other charges.
Mr. Sharma’s flat in Ramjaipal Nagar in Patna was sold for Rs 74 lakhs in January 2021, when a similar flat in another tower at the same floor and similarly furnished was sold 8 months earlier inside the same apartment complex for Rs 82 lakhs. Prices of resale flats in Patna are down about 10% since the last quarter of 2020.
One of the main reasons that we see is that cash starved owners; most of whom had picked up their second flat in Patna as an investment or for rental income from the flat in Patna are trying to liquidate. It seems to be the “LOCKDOWN” effect and most analysts say that they expected such drop in resale flats in Patna.
Contrarily there is
not much of a fall in prices in primary flat sales as
builders in
Patna
are waiting to see how the post
Pandemic period emerges.
This has also resulted in a huge
mismatch in the asking and offer prices of resale flats in Patna
resulting into far and few deals getting closed since the lockdown
has been lifted in May, 2020.
With the pandemic,
Patna real estate, especially the resale flat market, has
experienced a further erosion of buyer sentiments which was at low
since last 4 years in Patna. And sellers seem to be in hurry. The
lockdown has caused both demand and supply side
challenges for Patna real estate. Impact of the pandemic can be
felt on the pricing of resale flats in Patna. It also is an
opportunity to buy flat in
Patna
for fence sitters.
Location of the resale flat is Khagaul, R.K. Puram.
The resale flat is 2 BHK and is on TOP floor out of five floors in the apartment.
The size of the resale flat is 1075 Sq.ft. SBA.
The resale flat is a new flat which was purchased for puopose of investment in real estate.
Offer Price for the resale flat in Patna is Rs.45 Lakhs inclusive of parking and other charges.
Location of the resale flat is Gola Road.
The resale flat is 3 BHK and is on Third floor out of five floors in the apartment.
The size of the resale flat is 1375 Sq.ft. SBA,
The resale flat is semi-Furnished, with wardrobes built in bedrooms.
Offer Price for the resale flat in Patna is Rs.70 Lakhs all inclusive.
Location of the resale flat is Bailey Road, VijayNagar.
The resale flat is 2 BHK and is on second floor out of 4 floors in the apartment.
The size of the resale flat is 1125 Sq.ft. SBA.
The resale flat is fully-Furnished, with wardrobes built in bedrooms and modular Kitchen and cabinets in Hall and dinning space.
Offer Price for the resale flat in Patna is Rs.60 Lakhs all inclusive.
Location of the resale flat is RPS MOR, Arya Samaj Road.
The resale flat at RPS MOR is 3 BHK and is on third floor out of 6 floors in the apartment.
The size of the resale flat is 1410 Sq.ft. SBA.
The resale flat is semi furnished.
Offer Price for the resale flat in Patna is Rs.65 Lakhs all inclusive.
1) The age of the property in Patna should ideally range between 1 to 5 years and in any case maximum of 10 years, if the resale flat is very well maintained.
2) Know about the reputation of the builder in Patna who constructed the apartment in which the resale unit is located and the quality factor associated with his past developments in Patna.
3) Why the seller is selling flats in Patna? Understanding the reason behind the sale will help in uncovering the problems and issues with the Resale flat in Patna, if any.
4) Considering the surround environment, proximity to important areas and amenities available in the vicinity also affects the final decision of purchasing a resale flat in Patna.
Nothing can be more profitable and even satisfying than purchasing a flat in Patna at a price much lesser than the market rate in Patna. Moreover, the resale flats in Patna are fully constructed and come with a ready-to-move-in tag.
One of the biggest benefits that the resale flats in Patna provide is the tax benefit after gaining possession. A deduction of Rs. 1 Lakh on the principal of EMI under 80C and a tax exemption of not more than Rs. 1.5 Lakhs of home loan interest under 24B make the resale flat in Patna all the more profitable. Hence, if all the other factors work in buyers favor, it might be a good idea to invest in a resale flat in Patna. It helps save a good amount of money, while saving time otherwise spent in waiting endlessly for a new residential project in Patna to complete.
| Locality Name | ReSale Flats |
|---|---|
| Anishabad | 5200 |
| Agam Kuan | 4800 |
| Ara Garden | 5500 |
| Ashiana Nagar | 5600 |
| Anandpuri | 6500 |
| Ashok Raj Path | 7300 |
| Ashok Nagar | 6200 |
| Beur | DNA |
| Boring road | 7200 |
| Bank Road | 8500 |
| Buddha colony | 7000 |
| Bailey Road | 5500 |
| By Pass | 5100 |
| Danapur DRM Office | 4200 |
| Digha | 5000 |
| DPS MOR | 4800 |
| Exhibition Road | 8200 |
| Fraser Road | 7600 |
| Gola Road | 5000 |
| Gardanibagh | 6300 |
| Hanuman Nagar | 6000 |
| Kadamkuan | 7200 |
| Khagaul | 4200 |
| Kankarbagh | 7500 |
| Kidwaipuri | 7800 |
| Kumhrar | 6200 |
| Kurji | 5500 |
| Lodipur | 6900 |
| Nala road | 7800 |
| Nehru Nagar | 6000 |
| Mithapur | 5200 |
| Jagdeo Path | 6000 |
| Jakkanpur | 5600 |
| Patna City | 7000 |
| Patliputra | 6800 |
| Patel Nagar | 5400 |
| Phulwarisharif | 5500 |
| Punaichak | 5700 |
| Ram Krishna Nagar | 5200 |
| Rukunpura | 5500 |
| Raza Bazaar | 6500 |
| RPS Mor | 7400 |
| Rajbanshi Nagar | 6200 |
| Rajapur Mainpura | 6500 |
| Rajendra Nagar | 7200 |
| Sampatchak | 4000 |
| Sheikpura | 7200 |
| Shivpuri | 6500 |
| Sri Krishnapuri | 7800 |
| Sri Krishna Nagar | 7600 |
| Shaguna Mor | 5400 |
| Shiwala-Usri | DNA |
AL FALAH ENCLAVE is an undergoing residential project in Phulwari Sharif by CHITRA HOMES. The construction is in full swing and the project is RERA APPROVED. It is very affordable for middle class. The project has total many units of 2 BHK and 3 BHK flats and 2 BHK flats are available around Rs.30 lakhs and 3 BHK flats are available around
Rs.35 Lakhs. DETAILS
Once a family in Patna has decided to buy a flat in Patna; the next question that arises is what type of flat one should go for in Patna? Broadly the flat buyer has three options to choose from; Resale flats in Patna, Under-Construction flat (NEW) or Ready to move flats (New). The under construction and ready to move flats are the flat under NEW Flat options. The decision isn’t always simple because it’s a choice of lifestyle, requirements, affordability and mindset.
A new flat is previously uninhabited structure and you have the opportunity to be its first owner. Even if some of the fixtures may need to be upgraded, you can still say that you are the proud owner of a new flat in Patna!
On the other side, resale flats in Patna may include more essentials things required for day to day living. Depending on the agreement reached with the previous owner, several appliances, furniture and other bonus may be included with buying resale flat in Patna. All these things can be a great benefit, but it really depends on buyer’s situation. If this is the first flat and one actually need to purchase appliances and furniture, then this may be a great incentive for choosing a resale flat in Patna.
Construction styles of flats in Patna have changed with time and one might favor more traditional layouts and features. The location too determines availability of new or resale flat is Patna. If one decides Boring Road as the locality to buy flat in Patna, then the probability of getting a resale flat is more. A resale flat naturally had a previous owner and it may be only a few years old or it could be decades old depending on your preference and the neighbourhood you are choosing to buy a flat in Patna.
Resale Flat in Patna, Patel Nagar
2 BHK on second floor
990 Sq.ft. SBA, Semi Furnished
Offer Price:- Rs.50 Lakhs all inclusive.
Resale Flat in Patna, Kankarbagh Main Road.
3 BHK on Third floor
1475 Sq.ft. SBA, Furnished
Offer Price:- Rs.90 Lakhs all inclusive.
Resale Flat in Patna, Nehru Nagar
2 BHK on Fourth floor
1044 Sq.ft. SBA, Furnished
Offer Price:- Rs.57 Lakhs all inclusive.
Resale Flat in Patna, Digha Near Polson Dairy
3 BHK on Third floor
1125 Sq.ft. SBA, Furnished
Offer Price:- Rs.4500 per sq ft.
The prices of resale flats in Patna vary depending upon a number of factors like locality, brand name of the construction company, age of the flat and how maintained is the resale flat and not only the flat but the how maintained is the whole society or enclave.
DISCOUNTS ON RESALE FLATS IN PATNA
| Locality Name | Ready to Move Flats |
ReSale Flats | Discount |
|---|---|---|---|
| Kankarbagh | 7800 | 7300 | 7% |
| Rajendra Nagar | 7600 | 7200 | 5.5% |
| Bailey Road | 5800 | 5500 | 5.5% |
| Ashiana Nagar | 6200 | 5600 | 10.7% |
| Patliputra | 7200 | 6800 | 6% |
| Raza Bazaar | 6700 | 6500 | 3% |
| Nehru Nagar | 6800 | 6000 | 13% |
| Phulwarisharif | 5500 | 5200 | 6% |
| Boring road | 8200 | 7200 | 14% |
Buying a resale
flat in Patna often requires paying at least 20% down payment that
may be in cash, which is higher than that asked by the builders in
Patna. Resale flats in Patna require dealing with some mandatory
expenses like registration fees; stamp charges, transfer fees, and
real-estate agent fees at one go. The other cost might include
minor expenses towards renovation, parking/security charges,
society membership fees and a couple of other overheads.
READ MORE SIMILAR ARTICLES:-
Gola
Road, Patna.
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