Location and Accessibility

Kumhrar, in Patna, Bihar, holds a notable position both historically and for real estate. Situated within the city, it is connected to nearby areas like Hanuman Nagar (3.81 Km), Kankarbagh (5.05 Km), Ramkrishan Nagar (5.12 Km), and Lohanipur (6 Km).

Historical and Cultural Significance

This locale is known for old relics and is recognized as the former site of Pataliputra, especially the Mauryan palace. This rich cultural and historical backdrop makes Kumhrar appealing to those valuing heritage in their living space.

Property Prices and Trends

Patna, with Kumhrar as a hub, shows mixed trends in property prices over recent years:

• Ready To Move Flats: Prices have grown by 3.85% in the last year and 27.2% over the last five years.
• Re-Sale Flats: Prices have increased by about 3.57% in the past year and 29.3% in the last five years.
• Residential Land: This has seen greater gains, with a price rise of 8.24% in the last year and 43.6% in the last five years.

Quality and Amenities

Several factors influence property prices in Patna, especially Kumhrar:

• Builder Reputation: Properties from well-known builders fetch a 10-15% premium.
• Amenities: Projects boasting modern amenities also see higher prices.
• Stage of Completion: Prices climb with progress in completion, starting low at the launch and peaking at move-in ready.

Rental Market

Rents in Patna, including Kumhrar, vary based on location and amenities:

• Residential property rents depend on nearby areas and features.
• Ground floor commercial properties command higher rents than upper floors.

Investor Considerations

• Returns: Today, compared to past high returns (2005-2010), investments in residential Patel real estate are expected to produce lower annual returns because of past excessive pricing and current market stagnation.
• Market Conditions: Many investors who bought a few years ago find it tough to sell, suggesting some areas in Patna, potentially Kumhrar, might have overpriced properties.

PropertyWala's Final Thoughts

Buyers or renters should do deep research if considering Kumhrar in Patna. Its central location and historical richness are major draws. It's wise to note present market trends, including the chance of overpriced properties and modest returns. Comparing prices across projects and areas while considering builder reputation, amenities, and stages of completion is key. To decide wisely, learn about the rental market and Patna's broader economic health.