What distinguishes a great neighborhood from the merely livable areas in Patna? It’s a difficult question, encompassing everything from physical attributes such as good design to the right number of parks and public gathering places. Is it a charming Main Street, good schools or an abundance of interesting shops, restaurants and other diversions? What elements conspire to create great neighborhoods?
People and place
Surprisingly, its people not developers, who create the next big place. It’s always a bunch of individuals coming in who think the potential for their community is bigger. They have this feeling that something has happened there and start to do little things that collectively add up to a big thing.
That might include a shop owner sprucing up his storefront, adding an attached coffee shop or a resident putting in a park bench on the corner to allow people to stop and talk.
These twists give a signal that something is going on here. Pretty soon other people join, revitalization is born. “People attract people,” so when businesses triangulate in one place, such as a theater, bookstore and art gallery, they give people reason to stick around. These are the places you take friends and family when you want to show them the neighborhood.
Location, location, and location
Of course, few people are going to settle in a neighborhood if it doesn’t have access to well-paying jobs. The places that have the most value and that blooms first are those closest to, or have access to, high-paying jobs. They raise the fastest and the farthest.
Indeed, access to good public transportation can turn even some suburbs into hot areas. Home values perform better on average if the homes are within a kilometer of public transportation. Residents in those areas had better access to jobs and lower transportation costs, leaving them with more money to enjoy neighborhood amenities.
Let’s not forget schools
By and large, the highest-value home prices in Patna are found in school areas of very high quality, and those with access to high-paying jobs.
These areas are the blue-chip stocks of neighborhoods, even for people without kids, because they attract people with higher levels of education, who tend to be more active in preserving community value.