Buy a property In Patna or continue to live in rented accommodation in Patna? That’s a question people are confronted with after living in Patna for a few years. But the high cost of property in Patna in prime areas and now even suburbs in Patna is making owning a house in Patna a tough proposition for the middle-income group.
It’s better to rent a property in Patna than own it Patna according to an analysis based on rental and property values across Patna. The suburbs of Patna presented the best opportunities to own a house.
The rent to buy ratio in Patna, which is based on the rental value, property price and gross income of the individual, is quite low in Patna suggesting that it is cheaper to pay rent than the EMI (equated monthly installments) for loans. The average rental value of residential property in Patna is very less compared to its high property prices, making renting the best option.