Bhubaneswar - investment prospects

hema · 01-02-2007

My family have relocated outside Orissa due to job grounds. But we have lately heard a lot about the growth of cities like Bhubaneswar. Can anybody help me out to know the latest property investment prospects in my home state Orissa, specially Bhubaneswar.

thanks

Hema

suruchi · 01-02-2007

Orissa, and especially Bhubaneswar is in the recent times emerging as one of the hotspots for real estate investments. With a population of approximately 0.6 million, this small city is in a headway in industrial, retail and real estate development.

Much of its propect factor can be bestowed on the educational and job opportunitiies Bhubaneswar has been providing so far. Investors are finding this Tier III city a much better option to invest in when it comes to low property cost (compared to other similar status cities) and availibility of workforce.

Read this to have a clearer picture of the investment prospects that lies ahead in Orissa

Quote:

Orissa's First IT Special Economic Zone

Government of Orissa signed an agreement with real estate developer DLF Limited to set up Orissa’s first Special Economic Zone (SEZ) dedicated to Information Technology (IT).

The lease-cum-development agreement was signed between Orissa Industrial Infrastructure Development Corporation (IDCO) and DLF for developing 54 acres of land opposite InfoCity in Chandaka Industrial Estate. The project envisages construction of 4.12 million square feet of built up space of which a minimum of 60 percent would be dedicated to IT.

The land would be made available to the company on 70 years lease basis at a consideration amount of Rs 44 crore, approximately Rs 81 lakh per acre. The project cost inclusive of land acquisition would be about Rs 1000 crore.

Mr. Naveen Patnaik (CM) said that the project would give a boost to the growth of IT and ITES services in Orissa creating direct employment opportunities for about 25,000 software professionals.

DLF said that Bhubaneswar city would fulfill the requirements that IT companies look for when deciding on off-shoring locations, e.g. availability and cost of labour and infrastructure.

abhi · 01-02-2007

As far as investment in Bhubaneshwar property is concerned, Chandrashekharpur, Bhubaneshwar–Cuttack Highway is believed to be the best bets for the year 2007. Also, I have come across the news that Bhubaneswar is set to become the favourite Tier-II destination of IT companies.

Look to Chandrasekharpur of Patia at Bhubaneswar. Here Simplex, duplex, and Apartment is very popular. One duplex about 1815 square ft. building area contains a price tag of around Rs 20 lakhs.

Likewise, the cost of one Simplex is around 12 lakhs where the building area is 980 square ft. This phase of development is taking place at Marutivilla by Maruti builders. Talking about the 2 bed room Flat in Harihar apartment at Vir surendra Sai Nagar, it will cost around a whopping amount of Rs 10 lakhs. This location is 20 kilometers from the Air port and 4 kilometer from Railway station.

Club Town at CS pur near Infosys, jadukul Enclave Bamra Nagar at Surya Nagar Also going on by private developers. Although from the Govt side there is Bhubaneswar development Authority (BDA) to look after Constructions. But it did not have done any project for long time. Now it has planned Netajee Subash Chandra Bose residential and shopping Complex for medium and lower income groups.

ladu · 04-15-2008

Believe me there is a lot of hype on the real estate market in BBSR. Tell me what is it there in BBSR that a simple 1200 sft flat would cost you 20 - 22 lakh which is simillar in cities like Hyderabad and Bangalore. Moreover buying that would not yield you that much profit whic you can easily make in a city like Hyderabad & Bangalore.

Regarding Land - There are again a lot of hype about this. Lot many companies coming and taking land from Orissa Govt stating their ventures, but how many have really come to implement them. These are the things making builders sell the land and earn easy money but the real purchaser had to wait a long to get profit on the land. Similar things had happened with one of my relative who had bought a land near to the AIIMS site but where is AIIMS?? I am sure that in another 10 years also they would not come because we lack good poltical representation to bring things to orissa and when we have good poltical represenation then we do lack good leaders to represent our cause.

Anyway I am not discouraging anyone to buy property in Orissa but want to ensure that you do a clear calculation before you buy.

Regards
Ladu

01-02-2007	#1
hema Member Join Date: Oct 2006 Posts: 25	Bhubaneswar - investment prospects My family have relocated outside Orissa due to job grounds. But we have lately heard a lot about the growth of cities like Bhubaneswar. Can anybody help me out to know the latest property investment prospects in my home state Orissa, specially Bhubaneswar. thanks Hema

01-02-2007	#3
abhi Member Join Date: Oct 2006 Posts: 23	Investment in Bhubaneshwar Property As far as investment in Bhubaneshwar property is concerned, Chandrashekharpur, Bhubaneshwar–Cuttack Highway is believed to be the best bets for the year 2007. Also, I have come across the news that Bhubaneswar is set to become the favourite Tier-II destination of IT companies. Look to Chandrasekharpur of Patia at Bhubaneswar. Here Simplex, duplex, and Apartment is very popular. One duplex about 1815 square ft. building area contains a price tag of around Rs 20 lakhs. Likewise, the cost of one Simplex is around 12 lakhs where the building area is 980 square ft. This phase of development is taking place at Marutivilla by Maruti builders. Talking about the 2 bed room Flat in Harihar apartment at Vir surendra Sai Nagar, it will cost around a whopping amount of Rs 10 lakhs. This location is 20 kilometers from the Air port and 4 kilometer from Railway station. Club Town at CS pur near Infosys, jadukul Enclave Bamra Nagar at Surya Nagar Also going on by private developers. Although from the Govt side there is Bhubaneswar development Authority (BDA) to look after Constructions. But it did not have done any project for long time. Now it has planned Netajee Subash Chandra Bose residential and shopping Complex for medium and lower income groups.

04-15-2008	#4
ladu Junior Member Join Date: Apr 2008 Posts: 1	Unnecessary hype at BBSR Believe me there is a lot of hype on the real estate market in BBSR. Tell me what is it there in BBSR that a simple 1200 sft flat would cost you 20 - 22 lakh which is simillar in cities like Hyderabad and Bangalore. Moreover buying that would not yield you that much profit whic you can easily make in a city like Hyderabad & Bangalore. Regarding Land - There are again a lot of hype about this. Lot many companies coming and taking land from Orissa Govt stating their ventures, but how many have really come to implement them. These are the things making builders sell the land and earn easy money but the real purchaser had to wait a long to get profit on the land. Similar things had happened with one of my relative who had bought a land near to the AIIMS site but where is AIIMS?? I am sure that in another 10 years also they would not come because we lack good poltical representation to bring things to orissa and when we have good poltical represenation then we do lack good leaders to represent our cause. Anyway I am not discouraging anyone to buy property in Orissa but want to ensure that you do a clear calculation before you buy. Regards Ladu

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