Odisha intensifies real estate regulation with ORERA reforms, integrating digital systems and enforcing penalties via revenue departments to protect homebuyers. New measures include monthly enforcement targets, inter-departmental coordination, and recruitment drives to strengthen compliance across the state.
Bhubaneswar's growing IT sector, driven by new tech parks and infrastructure developments, is causing a surge in commercial real estate demand. Multinational companies' entry and government land allocation initiatives are revitalizing property markets, with strategic projects reshaping the city's economic landscape.
The Bhubaneswar Metro Rail project has triggered a 25-50% spike in land prices near proposed corridors, with developers capitalizing on proximity benefits and infrastructure upgrades. Analysts predict further appreciation of 20-30% by 2026, driven by enhanced connectivity and urban development.
Bhubaneswar RERA introduces stricter compliance measures to enhance transparency and protect homebuyer interests in Odisha’s rapidly growing real estate market, focusing on timely project delivery and regulatory reforms.
Bhubaneswar Smart City Limited (BSCL) initiates final-phase development, prioritizing advanced infrastructure, housing rehabilitation, and smart governance to solidify its status as India’s model smart city by 2026.
Odisha RERA (ORERA) fined two real estate developers ₹20 lakh each for advertising without registration and not issuing a sale agreement, respectively.
Bhubaneswar will soon host a World Trade Center, enhancing its smart city project with significant commercial and hotel developments in the area.
Bhubaneswar's outskirts face severe waterlogging due to poor planning and inadequate drainage systems, impacting high-rise buildings and new residential areas.
The Orissa government is set to build 5,000 affordable homes in Bhubaneswar, in collaboration with private developers, targeting low-income groups.
Developers express mixed views on the real estate regulatory bill, citing concerns about one-sided punishment and the need for a more balanced approach.
Odisha real estate builders fear market slowdown due to recent scams. CREDAI-Odisha Chapter forms scrutiny committee to restore trust.
CREDAI criticizes BDA's redefined "apartment" and "group housing," citing vagueness and potential harassment for homeowners in Bhubaneswar.
Demand for homes in smaller Indian cities attracts big real estate developers, with 354 million sq ft of residential development expected in 3 years.
LIC Housing Finance plans to expand its senior citizen homes business across India, aiming for a public listing within five years. The company has completed projects in Bangalore and Bhubaneswar, and is now eyeing Jaipur, Haridwar, and Goa.
DLF Plans Rs 1000-Crore Infopark Project in Bhubaneswar, Phase One to Start with 5.4 Acres.
The Reserve Bank of India plans to create indices for commercial and residential properties in Ahmedabad to manage speculation and realty bubble risks.
Indian real estate is experiencing a resurgence due to increased construction, especially in affordable housing, and record-low home loan rates. This has led to renewed optimism among consumers, particularly in Tier II and Tier III cities.
PSU banks' attractive home loan rates spur demand in smaller towns, but the impact varies in IT hubs like Pune and Bhubaneswar.
Credai Orissa to reduce housing project prices by 5-10% in 2 months due to falling raw material prices.
Real Estate Bank India to set up 3000 franchisees, including 16 in Orissa, to facilitate inter-state property transactions.