Affordable Housing in Patna
As Patna grows with economic shifts, affordable housing is becoming more important. Government initiatives like the Pradhan Mantri Awas Yojana (PMAY) have been key in providing homes to the urban poor. The Bihar government has extended PMAY until December 2025, aiming to speed up housing construction.
Understanding Government Schemes
Pradhan Mantri Awas Yojana (PMAY)
- Beneficiary-Led Construction (BLC): Offers financial help for building homes on private land.
- Affordable Housing in Partnership (AHP): Projects with developers.
- Affordable Rental Housing (ARH): Offers affordable rental housing.
SWAMIH Fund 2
Launched in Budget 2025, this fund aims to finish stalled housing projects, helping buyers in Patna who invested in under-construction properties.
Top Budget Localities
- Danapur and Bihta: Known for new residential projects with 3 BHK and 4 BHK apartments and plots.
- Bailey Road: Offers a mixed-use property including both retail and residential spaces.
Tips for First-Time Buyers
EMI Holiday Offers
- Use EMI holidays to manage financial stress during construction.
- Negotiate with developers for flexible payment plans.
Subsidised Loans
- Explore government-backed loans like those under PMAY, which offer interest subsidies.
- Consider credit-linked subsidies for reduced loan burdens.