PATNA MARKET OVERVIEW DANAPUR R O
AD Ku
N
rji M ore
P&M Mall Rajiv Nagar
GANGES RIVER
P a tl i p u t ra S q u are
Punai Chawk
B A IL E Y R O A D
B A IL E Y
RO
Highcourt
AD
IO AT ST
N
AD
P Mall
Plan etariu m
Raja Bazaar Shaguna More
City Centre Mall Museum
EXHI BITIO NRD.
Sri Krishnapuri
RO AD
ER R O
BO RI NG
Bakerganj Gandhi Maidan
The M all FRA S
Ashiananagar phase-1
EA ST BO RIN GC AN AL RO AD
A S H OK R AJ PAT H Vasundhara Metro Mall Lodipur
Rajendranagar RO
AD
Secretariet
Kankarbag Mithapur
Airport
Y PA S NEW B
S
NEW BYPASS
AREA CHARACTERISTICS:
Patna, the state capital of Bihar is a city of historical significance. It is a linear city and is situated on the southern bank of river Ganges. The length of the city is nearly 24 km. The river Ganges formed natural barrier to any expansion towards the north. The areas in the south are generally low lying and subject to flood from river Punpun. The new by-pass road runs from east to west is the southern boundary of the city which also acts as a dam. The old town, with its narrow and congested road and closely built unplanned houses have formed the northeastern limit of the city.
CITY STATISTICS Area (km2) ....................................
109.218
Population (PMC) - 2001 census...
13,66,444
No. of Holdings ..............................
1,48,157
RESIDENTIAL:
Patna is witnessing a phenomenal real estate growth over the past four to five years. Apartment projects are mushrooming in all parts of the town. Residential developments have been mainly in the suburban areas to the west of the city such as Rajabajar, Jagdeopath, Nahar, Shaguna More etc on the Bailey Road, DanapurKhagaul Road, Ashiana Nagar etc. Availability of land and easier accessibility to the main town are the two major drivers which have helped the residential market to grow in this part of the town. No major modern residential projects are coming up in the north eastern part of the city. The south central and south eastern parts of the town such as Kankarbag, Rajendranagar, Kumhrar etc. have also witnessed a considerable residential growth.
Buddha Park on Fraser Road
NK Realtors Research
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PATNA MARKET OVERVIEW OFFICE: Most of the major private and government offices are located in the CBD area such as Fraser Road, Bailey Road and Exhibition Road. Offices in the CBD comprise those of banks, financial institutions, telecom service providers, government agencies, educational institutions etc. Most of the developments in these locations are on the commercial complex format and have been developed by local developers. Some other destination like “Sai Corporate Park” on Bailey Road near upcoming Patliputra Railway Station has also emerged as alternate business centres. These large floor plated modern office buildings mainly attracts large corporates such as telecom, automobile, IT etc.
Commercial buildings on Fraser Road
Vodafone, Aircell are the two major tenants of the building.
RETAIL: Retail market in Patna can be differentiated into high street retail and malls. The prime high street is located in the main CBD area. Other major prime retail areas comprising of Station Road, Boring Road. East & West Boring Canal Road, Ashok Rajpath, Rajabazaar, Kankarbag etc. Over the past couple of years, the retail sector is extremely vibrant with growth happening in all the above mentioned areas – be they malls or single brand stores, they have dotted the commercial landscape of Patna. Almost all
the major retail brands have
presence in the city. National brands like Pantaloon, Reliance and international brands such as Walmart are also looking to come to Patna. With the PM Mall (2,50,000 sq.ft.) becoming operational in the beginning of 1st quarter of 2011, organised retail has picked up in the city. Big Bazzar is the main anchor store and Maxican brand Cinepolis is the multiplex operator of the only operational mall of Patna located at Patliputra Colony. With four screens, the 1,000-seat multiplex will screen 20 movies every day which will open its door very soon. Presently a number of commercial buildings (ground and 1st for retail and upper for office) and shopping malls (combination of retail, office, food court, hotel or
P&M Mall at Patliputra
Commercial Lease Rates: Location
Rs./Sq.ft/month.
Fraser Road Exhibition Road S.P. Verma Road Boring Road Boring Canal Road Bailey Road
200 - 250 100 - 175 100 - 175 100 - 150 75 - 100 50 - 100
Patna
Location
Rs./Sq.ft.
Patna
New Patliputra Colony Ashiana Nagar
3200 - 4300 3000 - 4000
North-West
Lodipur East Boring Canal Road
4500 - 5000 4500 - 5000
North-Central
Residential Sale Rates:
multiplex) have been under various stages of construction in the major retail
New Bypass
2000 - 3000
South
areas of Patna.
Fraser Road SP Verma Road Kidwaipur Boring Road
5500 - 6000 5000 - 5500 4500 - 5500 4000 - 5000
Central
Rajendra Nagar Kankarbag Kumhrar
3500 - 4500 3500 - 4000 2200 - 2500
East-Central
Near Women College Jagdeopath Shaguna More
4000 - 4500 3000 - 3500 2000 - 2500
South-West (on Bailey Road)
Major up coming malls include “ The Mall” (2,00,000 million sq.ft.) on Fraser Road, “P Mall” (1,75,000 sq.ft.) on Exhibition Road and “Basundhara Mall” (92,000 sq.ft.) at East Boring Canal Road etc. Big Bazaar has taken around 40,000 square foot space in the “P Mall” coming up at Exhibition Road which is considered as one of the busiest up market retail area of Patna.
Source: NK Realtors Research
NK Realtors Research
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