Cuttack Properties

Cuttack happens to be one of the most ancient cities in Orissa. History has it that the name of the city was coined by a Chinese traveler. It was also the capital city of the state until 1948, when Bhubaneswar was made the state capital. “Millennium City”, as Cuttack is sometimes referred to, is located at the bifurcation of the main tributary of Kathajodi River and Mahananda River. Its proximity to places like Konark, Bhubaneswar and Puri adds even more value to the Cuttack real estate market, and for this reason it is the economic hub of Orissa. Some of the top attractions in the city are Barabati Cricket Stadium and Mukundadeva Palace, which is a nine-storied building.

The high value of Cuttack properties is the main strength of the city, and it contributes immensely to the infrastructure and the overall economical condition of the state too. The city of Cuttack along with Bhubaneswar has continuously pushed the economic growth of the state, and both of them have played major roles as twin cities. Cuttack also boasts of a strong textile base, thanks to world famous cotton and silk textile industry that resides comfortably in the city. Then, there is the all famous Filigree works in ivory, brass and silver.

Today, the face of real estate in the city and the overall outlook is completely different from what they used to be five years ago. Today, Cuttack is a well-organized city with modern commercial and residential establishments. You can spot see glitzy malls, big retail stores and other sprawling offices spaces, and commercial complexes all over the city. The Housing Authorities of the city has extensively encouraged many private builders for commercial and residential investment in Cuttack. Some of the big players include –

United Builders
Jain Builders
Metro Builders
Apollo Constructions.

Some of the upcoming big real estate projects include IT Parks, SEZ and many integrated townships. All these put together have given a sudden push to the rates of Cuttack properties.

Property Prices in Cuttack

Let us take a look at some property rate trends in the city. An 1800 sq. ft. of residential land near NH 5 in Cuttack would cost around Rs. 35 lakhs. Nearness to a National Highway makes it a costly yet a profitable investment.

If a smaller affordable residential land is what you wish to buy, then a 2600 sq. ft. land near Beleswar Temple would be a good choice since it won’t cost you anything more than Rs. 12 lakhs.

If your budget is tighter, you can choose to go for a 2000 sq. ft. Land that is somewhere between Cuttack and Bhubaneswar. You may be able to clinch the deal at a cost well within Rs. 7 Lakhs- Rs. 8 Lakhs range, and these plots would be very close NH-5. You can expect their value to appreciate to a good Rs. 12-15 lakhs over the next 5 years.

In fact, the NH-5 region is probably the best place to invest your money in Cuttack as the core of the city is already saturated, offering little prospects of tremendous appreciation. Even a 3BHK plush size apartment can be bought within Rs. 25 lakhs, near NH-5. If you wish to buy a big apartment in the heart of the city, then consider the posh localities of Gopalpur, where you can buy a big 3000 sq. ft. 3BHK apartment for around Rs. 43 Lakhs. A smaller apartment of around 1300 sq. ft. might be available in and around Bidansi Colony, and it would be extremely affordable at around Rs. 20 lakhs.

Those who are looking for a big industrial plot can check out the outskirts of the city where small and big industries are cropping up every other day. A big 1.8 acre commercial land, which is situated around 1 km from Phul Nakhara would cost around Rs. 50 Crores.

Property Dealers in Cuttack

Some of the best Cuttack real estate agents are listed below; they are not only reliable but are also known to have a very strong network -

Prideview Properties
AT Consultancy
M/S Balarampur Properties Pvt. Ltd.