Real Estate Scenario in Orissa
Orissa is a place that is situated in the eastern region of India. This state is well known for its rich mineral content. This has helped to bring in more sectors into the state such as refineries, infrastructure, aluminum, steel and power. It has been also noticed that the IT sector in the state is developing, and will be a major source of income for the state and even for the entire nation. Therefore, these are some of the major reasons why the demand for Orissa Properties is surging in the market these days. Most of the investors as well as developers are searching for an ideal property deal in Orissa, as they are more profitable.
Real Estate Scenario
When the industries are concerned the Real Estate in Orissa is important, mainly because the different sectors such as refineries, power, infrastructure etc are well established in the state. Moreover, some of the other sectors like the IT sector are also developing day by day. In short, the overall ‘real estate scenario’ in Orissa is more likely to surge in future.
Industrial Real Estate
Orissa is one among the most significant industrial states in which some of the major industrial groups such as Birla, Tata etc have started their plants. The industrialization in this state has boosted the rates of properties and spaces. Some of the major industrial projects in Orissa are the ‘mega steel plant project’ by Tata group of companies and the special economic zone project.
Residential Real Estate
Most of the urban regions in the state have been facing higher demand for the residential properties. The rates as well as demand for properties in the cities like Bhubaneswar, puri and bahrampur are found to be surging day by day due to the industrialization. It has been also found that a large number of local as well as national tourists are also attracted towards the state, thereby improving the economic growth. This is one of the major reasons why this state is considered to be an important place for the real estate developers. Some of the major residential projects that are functioning or about to establish in Orissa are mentioned below:
The ‘indraprastha mega housing project’ and the Swanky citizenship by investment in turkey residential project
Commercial Real Estate
The state also experiences a boom in the commercial sector too. The culture of malls has reached most of the towns as well as urban areas in Orissa. Another factor for the development of the commercial sector is the rise in income of the middle class people. This rise in their income has boosted their purchasing capacity to a great extent. Most of the investors as well as developers are earning huge profits from investing in the commercial sector. Therefore, these are some of the major developments that are taking place in Orissa. The industrialization has paved the way to an outstanding demand for the properties in Orissa. In fact, the real estate investors are searching for an ideal property to invest in Orissa.