A STUDY OF COMMERCIAL REAL ESTATE DEVELOPMENT IN BIHAR

International Journal of Advanced Research Pub Date : 2024-02-29 DOI:10.21474/ijar01/18313

K. Kunal, Anita Choudhary

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Abstract

Commercial real estate has emerged as a key driver of economic growth and urban development in India. However, most development has concentrated in major metros while Tier-2/3 cities offer huge untapped potential. Bihar is one such state witnessing early stage growth in commercial real estate. This study utilizes primary data from developer/investor interviews and secondary data from industry reports. Quantitative and qualitative analyses were conducted to assess historical trends, current status, growth drivers, challenges, and future outlook. The analysis indicates that office and retail sectors are witnessing maximum growth, driven by factors like increasing demand from IT/ITeS, organized retail, and e-commerce companies. However, challenges like nascent stage of development, infrastructure gaps, lack of financing, land acquisitions, and talent availability need to be addressed. The study provides an in-depth understanding of commercial real estate in Bihar. While immense potential exists, concerted efforts on infrastructure improvement, policy reforms, and private participation are vital to realize the full promise. Targeted recommendations are provided for stakeholders to chart the future growth trajectory.

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对印度比哈尔邦商业房地产开发的研究

商业地产已成为印度经济增长和城市发展的主要驱动力。然而，大多数发展都集中在主要的大城市，而二三线城市却拥有尚未开发的巨大潜力。比哈尔邦就是这样一个见证了商业地产早期发展阶段的邦。本研究采用了开发商/投资者访谈的一手数据和行业报告的二手数据。通过定量和定性分析，对历史趋势、现状、增长动力、挑战和未来前景进行了评估。分析表明，在 IT/ITeS、有组织零售和电子商务公司需求增长等因素的推动下，写字楼和零售行业的增长速度最快。然而，新兴发展阶段、基础设施缺口、资金短缺、土地收购和人才供应等挑战亟待解决。本研究对比哈尔邦的商业地产有了深入的了解。虽然比哈尔邦的商业地产潜力巨大，但要充分实现其发展前景，就必须在基础设施改善、政策改革和私人参与方面齐心协力。研究还为利益相关者提供了有针对性的建议，以规划未来的发展轨迹。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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International Journal of Advanced Research

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