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Increase in Urbanization leads to sustainable growth
Due to the enhancement in the road network, it makes Bhubaneswar attract a larger percentage of the Indian workforce. Higher digital infrastructure and enhanced public utility infrastructure help enhance this
Improved new residential corridors and therefore boost the overall livability and investment proposition of the city as well
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Government Initiative is ahead of time.
Reforms by the government such as RERA and ease in the understanding of GST have already increased the confidence of the buyer, and at the same time, increased accountability among developers across the nation. Land acquisition procedures are being streamlined and property records are digitalized in Odisha state due to R-policy. This has motivated domestic as well as international investors to invest in this state.
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Growing Values
This works out to a price per square foot of ₹6,486 for the average property in Bhubaneswar and represents an annual rise of 4.78%. In that context, steady appreciation signals healthy and growing markets.
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Residency demand keeps soaring
The city has seen about 8-10% growth in the real estate market in the last few years with a huge hike of working professionals and students that create an growth in rental apartments. The market is becoming more organized and professional by the developers adhering to rigid guidelines and rules.
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Growing Commercial Real Estate
Commercial hubs have driven growth in the commercial real estate space. The Bhubaneswar market holds great promise and has been spurred by sustainable development initiatives and the classification of Bhubaneswar as a Tier-II location with growth economic activity.
The above trends are quite indicative of a dynamic changing real estate landscape in Bhubaneswar under influences of urbanization, the support from government policies, escalating property values, and growing residential demand, as well as commercial expansion.
