subject: Transforming Living In Patna [print this page] Real estate in Patna was always known for the gap between what was promised and what was delivered by the developers. The buyers of flats and apartments in Patna were always taken for a ride since there was no regulator in the real estate industry. A delay in handing over the possession by six months to a year was considered normal. Most of the apartments in Patna had issues like building plans being changed midway during construction or common facilities falling short of expectations. The real estate industry in Bihar was also plagued by issues like diversion of funds to other projects leading to project delay that stretched to several years. None of the projects were completed on time since the developers were short on funds. There have been instances where the construction on few residential flats in Patna has been stopped mid- way on account of paucity of funds leaving the buyers heartburn.
But today things have changed a lot. The Patna Regional Development Authority (P.R.D.A) has announced significant changes in the building bye laws that has enhanced transparency and promoted good practices and professionalism among developers. A written consent has to be obtained for any changes in building plan so as to safeguard the interest of the consumers. Among the mandatory information, developers are required to disclose potential homeowners drawn to scale location plan and site plan of the project, unit floor plan and a breakdown of a units floor area by various spaces like bedroom, kitchen and balconies. Time has become the essence and the flats in Patna are now being completed on time. Now all the developers have a penalty clause for delay in handing over the project. With large number of flats and apartments in Patna being completed every year, one hopes that competition among the developer would definitely enhance the quality of construction.
Taking into account the various problems like drainage, traffic congestion, lack of proper amenities, Govt. of Bihar has recently come up with the master plan to make Patna more beautiful and comfortable place to live in. Most of the flats in Patna are now being developed taking into account the vision 2021. To summarize, the need of the hour is to protect the interest of the consumers while also ensuring that the developers are not harassed by too much of red tape.
