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Overview of Katihar

Katihar, found in Bihar state, India, stands out as a significant district. It has 30,71,029 people and covers 3,056 sq. km. Here’s an in-depth view of Katihar from the real estate point of view.

Connectivity

• Katihar shines in connectivity, whether by road or rail.
  • Roads connect it to different Bihar districts and major other state cities like Purnea, Siliguri, Manihari, Bhagalpur, and Patna via buses from the Bihar State Transport Corporation.
  • As a critical railway hub, Katihar acts as the center of the North-East Frontier Railway’s Katihar railway division with seven rail lines to New Jalpaiguri, Siliguri, Kishanganj, Darjeeling, and key trade areas.

Industries and Commerce

• Boasting 1187 industries, Katihar is a big industrial area in Bihar.
  • Many agro-based industries dominate like flour and jute mills.
  • There are also readymade garments, embroidery, wooden furniture, leather, chemical, electrical, engineering, and metal businesses.

Opportunities in Commercial Real Estate

Key Areas

• Kadwa: A main commercial spot with great connectivity, infrastructure, and amenities, hosting several banks, hotels, and eateries.
• Lohia Nagar: Famous for great infrastructure such as malls and many hospitals, making it a major commercial spot.

Property Prices

• The average commercial property cost in Katihar is around ₹1389 per square foot, though this varies by locality.
• Specific areas such as Mirchaibari, property costs start at Rs. 3,343 per sqft with an average of Rs. 4,285 per sqft.

Infrastructural Growth

• The city is seeing ongoing infrastructural growth, thanks to state and central governmental investments in roads and other projects.
• Plans exist to link Katihar to Meghalaya through Bangladesh for better communication and trade.

Investing in Commercial Real Estate in Katihar

1. Set a budget: Determine the budget for your investment.
2. Do research: Look for areas with great future growth and rental potential.
3. Visit spots: Check the infrastructure and amenities on offer.
4. Buy property: Complete the required documents for ownership.
5. Pay stamp duty and registration fees: Transfer ownership to your name.

Legal Concerns

• RERA Validation: Verify the property and builder under the Real Estate Regulatory Authority Act, 2016 via the Bihar RERA website portal.
• Stamp Duty and Registration Fees:
  • Stamp duty rates: 5.7% for females, 6.3% for males, and 6% for others.
  • Registration fees: 2% for all genders.

Rental Possibilities

• Higher rental potential exists in Katihar than in residential properties, especially in premium categories.
• Different industries and commercial activities guarantee continuous demand for commercial spaces.

PropertyWala's Conclusion

Katihar provides a promising commercial real estate investment chance due to a solid industrial base, superb connectivity, and expanding infrastructure. Being ranked third by Niti Aayog, alongside huge investment in infrastructure, Katihar is set for quick commercial expansion. Conducting thorough research, ensuring RERA compliance, and reviewing local market trends is crucial before investing to maximize returns. High returns, low risk, and increasing commercial importance make Katihar an appealing choice for property purchasing or renting.