Guide for Bihar Sharif Residential Real Estate Investment￼
Located in Bihar, India, Bihar Sharif is the headquarters of Nalanda University. The term “Sharif” means noble, which fits this city rightly as it is a hub for education and trading. As the remains of the Nalanda University have earned a place among UNESCO World Heritage Sites, this area has grown as a tourist destination.
This city is also evolving as a residential area, with affordable properties and excellent transportation. NH 33 and NH 20 connect the city with other cities like Patna, Jamshedpur, Kolkata, Hazaribagh, Gaya, etc. As per the reports of the Census 2011, the city has a population of about 408,000 in 2023. This shows that the city is growing as a residential area.
Read along to find out more about the residential real estate properties of Bihar Sharif and the investment opportunities here.
Top Reasons to Invest in Residential Real Estate in Bihar Sharif
If you are wondering about the benefits of investing in residential real estate properties in Bihar Sharif, here are the top reasons you should consider investing here.
- Local Facilities
Bihar Sharif offers multiple local facilities to the residents. It has access to various educational institutes, including Delhi Public School Nalanda, Stanford Public School, SPM College, Soghra College, etc. It offers good healthcare assistance through Matritrva Chhaya Hospital, Guru Dev Hospital, JP Hospital, etc. Bihar Thana Bihar Sharif ensures the well-being and safety of the residents.
- Transport & Connectivity
Bihar Sharif maintains excellent connectivity through multiple National Highways, such as NH 33, NH 20 and NH 120. These connect it across different Indian states and cities. Moreover, SH 78 connects with Hilsa, Chandi, etc. Bihar Sharif Junction is the most important mode of transport here, while the nearest airport is Patna Airport. Moreover, Bihar State Road Transport Corporation offers other public transport facilities across the city.
- Affordable Properties
Considering the facilities available, the price of residential real estate properties is much lower and affordable for most in Bihar Sharif. You can find 3BHK apartments here starting from only ₹ 54 lakhs. As the prices will increase in future, investing in these properties is likely to be beneficial for most people.
- Clean Neighbourhood
Another benefit of living in Bihar Sharif is associated with good and clean neighbourhoods. As an educational hub, popular for tourist spots, this city has successfully maintained standards of peaceful neighbourhoods and environment. Residents here have limited risks of exposure to fights and conflicts.
Residential Real Estate Investment Opportunities in Bihar Sharif
If you are planning to invest in residential real estate properties in Bihar Sharif, here are some of the popular residential areas that you should check out here.
- Bazaar Samiti
This is a popular residential area in Bihar Sharif. Some nearby educational institutes include Durga Mandir, Bal Bharti Public School, Sadanand Intermediate College, etc. It can also offer healthcare services through the Nalanda Hospital. General 2 BHK apartments start from about ₹ 50 lakhs here.
Another popular residential area in Bihar Sharif, Kankarbagh offers good residential properties. It has connectivity through Old Sachdeva Rail Way Station and R Block Bus Station. Healthcare services are also easily available through the Jai Arogyam Hospital. Nearby schools and colleges include South Point Public School and BD College. 2 BHK apartments start from about ₹ 48 lakhs in this area.
This area can also be suitable for residents around Bihar Sharif. Its proximity to NH 139 makes it popular among the residents, mainly because of its connectivity. Old Sachdeva Rail Way Station and Secretariat Bus Stop are nearest. Turning Point School and South Point Public School are the nearest educational institutes. You can find 1 BHK apartment for about ₹ 30 lakhs here.
This area attracts residents because of its clean and peaceful neighbourhood. It also offers good transport facilities through the Patna Junction railway station and Patna Airport. Moreover, the nearest educational institutes include Carmel High School, Children’s Heaven High School, SPM College, KST College, etc. You can find 2 BHK apartments starting from ₹ 40 lakhs in this area.
Things to Consider Before Investing in a Residential Property in Bihar Sharif
While investing in residential real estate is usually profitable, here are some factors you should consider when investing in this sector in Bihar Sharif.
- Local Environment
Some areas of Bihar Sharif might be experiencing problems with pollution and traffic. As it is rapidly urbanising, the emissions from various factories might be causing this issue. It is a health concern to live in a polluted environment. Excessive traffic can also be common if you choose a location near National or State Highways. Therefore, you need to ensure that the location is devoid of such issues.
While police security is present across Bihar Sharif, it is always important to choose an apartment with the right security measures. Some areas are still developing, which might experience security issues. Thus, make sure that the apartment you choose has security officials and CCTV surveillance.
- Construction Quality
It is essential to consider the construction quality of a residential real estate property to avoid the dangers of living in it. Thus, always consider the builders of an apartment, and seek reviews from the neighbours. Moreover, you should avoid choosing such buildings that are offering suspiciously low prices.
- RERA Authentication
The Real Estate Regulatory Authority (RERA) is a statutory body from the Indian government developed to keep track of real estate transactions. As per law, builders should register every property on RERA for sale. You should check the website of RERA Bihar to ensure that your chosen property is registered. If it is not, avoid such properties.
Stamp Duty in Bihar Sharif
The buyer must pay a certain charge for stamp duty when purchasing real estate properties across India. Here are the stamp duty charges you must pay when dealing with the properties of Bihar Sharif.
|Gender/Ownership||Stamp Duty Charges|
Registration Charges in Bihar Sharif
You also need to pay registration charges when investing in real estate properties. Here are the charges in Bihar Sharif.
Bihar Sharif Residential Real Estate Sector-What’s the Forecast?
Bihar is evolving as a residential area. Four of its cities are listed to be developed as smart cities. Patna is one of the top-ranking cities for having a record number of new registrations for real estate properties. The state government has plans of building about 25,000 affordable homes in Bihar to provide refuge to those in need.
With Bihar’s development in terms of industries, its residential growth is rapid. Bihar Sharif is a popular area here, mainly known for its clean and peaceful neighbourhood. Various upcoming residential projects are in line here, including Bihar Sharif ‘Phase-2’ and Hitech City. Its proximity to the highways is making this area more popular as a residential area.
Residential Real Estate Vs. Other Asset Classes
If you are still unsure about investing in real estate, here is a short comparison between residential real estate properties and other asset classes. It will help you identify the benefits of investing in such properties.
- Residential Real Estate vs Commercial Real Estate
Commercial real estate properties are rented out to people who are trying to run a business and generate profitability. Such properties generate higher rents and returns as compared to residential properties. However, residential properties have better tax benefits. It is also easier to find tenants for such properties.
- Residential Real Estate vs Bonds
Bonds are a reliable method of investment. Unlike mutual funds, these are not volatile. Market fluctuations do not cause major differences in their returns. Thus, it is a perfect form of investment for people who wish to generate a fixed return, free of major risks of market fluctuations.
Are you looking to invest in top-rated bonds and generate returns at a low risk? Register here and start investing today.
- Residential Real Estate vs Stocks & Mutual Funds
Stocks and mutual funds are popular investment instruments. They generate high returns on investment with a minimum investment amount. However, it is a risky process, as market fluctuations can influence the returns largely. Residential real properties do not come with such high risks of investment.
- Residential Real Estate vs Gold
Gold is one of the most valuable metals in India. Indian households believe in storing gold jewellery as assets for the future. These are easy to liquidate and can serve as great long-term and short-term investments. However, residential real estate properties generate more returns than gold items.
Here is a table to help you understand the comparison between different asset classes so that you make the right investment choice.
|Parameters||Commercial Real Estate||Stocks & Mutual Funds||Gold||Residential Real Estate||Bonds|
Steps to Invest in Residential Real Estate in Bihar Sharif
If you are planning to invest in the residential real estate sector of Bihar Sharif, here are some steps to guide you through this process.
Step 1: Determine the facilities, location and quality of the property you need. Fix a budget in advance.
Step 2: Start conducting research, both online and offline. Shortlist some of the best properties in the chosen location.
Step 3: Inspect the locations and look into the buildings closely. Consult a broker and discuss the findings.
Step 4: Make your choice from the shortlisted buildings. Meet the seller to complete the process.
Step 5: Assess all the documents, and keep their copies. Complete the process by making your payments.
Step 6: Purchase an insurance policy to secure your newly purchased property.
Thus, Bihar Sharif can be a good option if you need to invest in residential real estate properties. It has great connectivity, which ensures good transport facilities across Bihar and other states in India. Moreover, the rates are quite affordable here, which can be beneficial for the buyers.
Frequently Asked Questions
What are some good residential areas around Bihar Sharif?
You can consider areas like Bazaar Samiti, Kankarbagh, Lohanipur and Kidwaipuri when purchasing residential real estate properties near Bihar Sharif.
What is the price of real estate in Bihar Sharif?
The price of real estate around Bihar Sharif usually starts low, from about ₹ 999 per sq. ft. It can increase up to almost ₹ 18,126.
Is it profitable to invest in real estate in Bihar?
As Bihar is growing as a commercial hub and many cities developing as smart cities, it can be the right place for real estate investment. Its price will increase in future with all these facilities.