Orissa is well known for its rich mineral content which has helped to bring in more sectors into the state such as power, infrastructure, refineries, steel and aluminum. We are now witnessing the growth in the IT sector. It will become one big source of income for the state and even for India. In this post we will be discussing about the real estate scenario of the state and its various regions.
Real Estate Overview
Different sectors including power, refineries, infrastructure etc. are well established in the region. Also, many other segments like the IT sector are also growing with time. In short, the real estate sector in the state is likely to give even more profit in the coming future. If we talk about the major reasons that why the demand for properties in the state is growing these days, it is majorly because of the various foreign investors along with the local developers who are looking for an ideal property deal in Orissa assuring them to fetch more profit. Anyone who is looking forward to invest in real estate can make full use of this opportunity and go ahead with investing money in property in Bhubaneswar. There is a variety of leading property developers such as Sahara India which has also launched their housing schemes in the city. You can also make investment in some of the upcoming projects which are very promising and coming with all the latest facilities and technologies equipped.
The demand for residential properties like flats, bungalows, etc. in the urban regions is high. The demand and prices for properties in the cities like Bhubaneswar, Bahrampur and Puri are even higher because of the recent development and industrialization. It has been also noticed that national tourists are quite attracted towards the state, which improves the economic growth. It is one of the biggest reasons why this place is counted among one of the most important places for the real estate developers.
I would also like to mention some of the best residential projects already developed in Orissa. These projects include the Swanky residential project and the Indraprastha mega housing project and few new upcoming projects in Bhubaneswar include TirumalaSaket – Kalinga Bihar, G- Next Valley – Tamando, Citi Homes – Balianta, Citi Homes – Balianta.
Commercial Real Estate
The state is also experiencing a boom in the commercial sector. This new culture of malls is not only reaching in each town but also in the urban regions of Orissa. One more factor which is helping in the development of this sector is the increase of income of the middle class individuals. There are large numbers of investors who are making a lot of money by investing in the commercial sector in the state. Hence, these were some big developments which are taking place in Orissa.
Industrial Real Estate
Orissa is considered one of the most significant industrial regions in the country in which few big names have started their plants such as Tata, Birla, etc. With the industrialization the prices of properties in the state has increased a lot. Investing in real estate in this region can reap you big benefits in the long run.