The ‘Temple City of India’ and state capital of Orissa – Bhubaneswar is now gaining fame for the Real estate property market as well. The mining industry base in Bhubaneswar properties is shifting towards the upcoming trends in the development of residential and commercial properties in Bhubaneswar. These include IT Parks to lure the burgeoning IT & ITES sector in India and SEZ projects to change the very face of Bhubaneswar property market. With the upcoming international airport and air cargo complex, Bhubaneswar real estate market will further jump to a new platform.
Commercial Properties in Bhubaneswar
Bhubaneswar is home to IT majors like Infosys, Satyam and BPO major Genpact along with many other. Alloted the status of priority sector, numerous Software Technology Parks and development of office spaces and other commercial properties for sale in Bhubaneswar has caught the fancy of various real estate developers in India. The Industrial Development Corporation of Orissa is coming up with IDCO Infocity – I at Chandrasekharpur that is an IT-specific SEZ slated to give a boost to both the local economy and the Bhubaneswar Real estate market. Besides this a DLF IT Park at Chandaka Industrial Estate, a Biotechnology Park and a BPO – specific SEZ at Mancheswar Industrial Estate would further add to the vast bank of commercial properties in Bhubaneswar.
Residential Properties in Bhubaneswar
The major development authority in Bhubaneswar is the Orissa State Housing Board that manages more than 75% of the commercial and residential land in Bhubaneswar. Besides the OSHB, there’s Bhubaneswar Development Authority that undertakes various housing projects to provide adequate residential property in Bhubaneswar. All one has to do is contact the local property dealers in Bhubaneswar and get info the the available options for property investment in the city. The real estate agents in Bhubaneswar give you up-to-date information on the available rental properties along with the formalities related to buying property in Bhubaneswar besides the usual sale purchase real estate service.
Bhubaneswar Real Estate Market
The prominent areas with good capital value of commercial properties in Bhubaneswar include retail markets at Chandrasekharpur, Patia, Nandankanan, Sailashree Vihar and office and business complexes at Janpath, Cuttack Puri Road, Bapuji Nagar, and Ekarma Marg. Areas like Khurda and Kalinganagar are the emerging commercial real estate hubs in Bhubaneswar. Top corporates including Tata Telecom, TCS, Reliance Communications and Essar Steel have their regional offices in Tower 2000 – Mancheshwar Industrial Estate, IDCO Towers – Janpath and Fortune Towers – Chandrasekharpur. The main residential property hubs in Bhubaneswar are Ashok Nagar, Surya Nagar, Chandrasekharpur, Rasulgarh Bapuli and Shaheed Nagar.