Why Should You Invest in Bhubaneswar?

Bhubaneswar is counted among the top tier II cities of India. Its growth potential has attracted several investors. Moreover, the city has quite a few affordable properties under construction. Most of the people investing in Bhubaneswar are locals and Oriyas working in Chennai, Hyderabad and Kolkata. Real estate in Bhubaneswar is picking up fast for the rapid development that the city is undergoing. The city receives investment funds from higher earning segments like HNIs and NRIs who are from the state and want to own property in their homeland.

The constructions underway in Bhubaneswar are of various types- villas, apartments and plots. However, the highest inventory is for properties that are priced between Rs 30 and 40 lakhs. Almost 50 percent of the properties available in the city are under construction which makes them perfect for investors seeking capital gains. The starting price of flats for sale in Bhubaneswar is around Rs 12 lakhs for 1BHK configurations. Plots in the city are available for a minimum of Rs 1.5 lakhs. When it comes to real estate trends in the city, houses and plots are more in demand than apartments. Locals are yet to be acquainted with the apartment culture hence prefer living row houses. The cost of buying plots and developing them independently is almost equivalent to the price of flats for sale in Bhubaneswar. Apartments find takers only among outstation and NRI buyers who won’t be around for a better part of the year to care for the property. Migrants to the city also prefer buying apartments. They are light on their budget and solve their housing needs. Most of them are employed in the sizeable IT sector of the city which has campuses of companies such as Infosys and Wipro.

Those looking to purchase plots or flats for sale in Bhubaneswarwould do well to consider Patia and Chandrasekharpur. These two investment hotspots in the city witness a lot of realty development. The supply of properties such as apartments and villas is high here. They are a part of North Bhubaneswar which is a significant employment zone. Quite a few IT, ITeS and BPOs are located here. If not north Bhubaneswar, investors can consider the industrial special economic zone of Manchesar. It is located along the Bhubaneswar Cuttack Highway. There are several commercial outlets and educational institutions located here. The area is also close to Kuakhai River which adds aesthetic value to the area and boosts its capital rates.

Bhubaneswar is rapidly growing thanks to the IT sector in the city. The social infrastructure of the city has also been improved greatly, with the establishment of institutes such as KIIT. The number of migrants to the city is increasing rapidly, which indicates that housing demand shall also increase in the near future. Therefore, investing in the city is a good prospect for rental returns and capital gains. Irrespective of whether you trace your roots back to the city or not, Bhubaneswar is a hard to ignore residential investment destination.