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An Overview of the Bhubaneswar Real Estate Market

Designed by a German architect Otto Konigsberger in the year 1946, Bhubaneswar, the capital of Odisha, is one of the first planned cities of India. Moreover, the history that can be traced back to 1st century BC makes this largest city of Odisha a culturally and historically rich place. You can find many temples in this city, which date back to 8th century, thereby making it popular as the “Temple City of India”. The north, northeast and southeast parts of the city have seen tremendous development in the past few years in terms of infrastructure and other things which have led to an increase in the influx of migrants.


Infrastructure & Connectivity
The city comprises of two main units that majorly divide it into the old town and the planned city. While the old town is lined with a number of temples and other historic infrastructural marvels, the planned city is a great example for the modern infrastructure and other facilities. With many IT sectors showing interest in Bhubaneswar, the city has boomed in terms of real estate and infrastructure. When talking about connectivity, Bhubaneswar is connected to many neighboring states like West Bengal, Andhra Pradesh, Chhattisgarh and Jharkhand via the road transportation facility provided by Odisha State Road Transport Corporation. It is also connected to different parts of the country through the Indian railway network.


According to the Indian census report of 2011, the population of Bhubaneswar was estimated to be at 837,737. This population grew at the rate of 45.90 percent in the decade comprising of 2001-2011. The average literacy rate of Bhubaneswar city was estimated at 91.87 % with around 94.66% male literates and 88.73% female literates. The sex ratio of Bhubaneswar city was recorded at 890 females per 1000 males in the 2011 census with the child sex ratio being 904.


Life Style
The city has attracted many people from across the country because of the sudden boom in information and technology sector. The employment opportunities offered by the IT sector along with the education and tourism industry have led to the influx of many people. This has definitely improved the lifestyle of people as the city has developed to fulfill the increasing needs of the people. A number of shopping malls and complexes have been developed in the city along with many retail hubs. With more than thousand temples within its precinct, the city also manages to cater the religious sentiments of the people.


Key localities in Bhubaneswar
There are many key localities in the city that make Bhubaneswar real estate an attracting magnet for the people. Some of the top localities that are resplendent with all the basic as well as advanced amenities are given here: Acharya Vihar, Sahid Nagar,  Keshari Nagar, Satya Nagar, Chandaka, BJB Nagar, Gajapati Nagar, Khandagiri, etc.


Real Estate Market
Builders play an important role in the infrastructural development of the city. Real estate in Bhubaneswar has improved many folds because of the many projects offered by the top-notch builders. They can be seen with hoardings like “Property for Sale in Bhubaneswar” and “Bhubaneswar Properties for Sale”. Some of the top builders in Bhubaneswar include: TATA, Utkal Builders, Essen, Sahara, Dream Service, Vipul, Basera Designs Pvt Ltd, Shree Jagannath Properties and Developers and others.


Projects in Bhubaneswar
You can find different types of projects in Bhubaneswar. There are affordable apartment flats as well as luxury duplexes and villas to suit the requirements of all the property seekers. In terms of commercial real estate also Bhubaneswar has many new office and shopping complex projects in line. The city, therefore, can offer adequate property options to anyone who wants to settle here, whether for business, work, family or any other thing.


Govt Projects in Bhubaneswar
The Bhubaneswar Development authority comes up with various schemes to provide housing facility to people at an affordable price. The BDA Housing Project, Paikarapur-I & II offer 224 and 144 housing units to people. There is the Netaji Subhas Enclave Scheme Phase-II Gadakana as well. Other than that many future projects are planned like Duplex Houses Scheme Pokhariput, Residential Plots Scheme Sanpalla and Prachi Enclave Phase-II Scheme Chandrashekhapur. Hi! Searching for Property? Let's Chat