Puri, Odisha Property Guide
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How India’s Bullet Train Will Transform Property Prices in Ahmedabad and Maharashtra Corridor Cities
Explore the projected surge in property prices around Shela (Ahmedabad), Vapi, and Bharuch due to the Mumbai-Ahmedabad Bullet Train’s infrastructure boom and economic zones. -
Union Budget 2025: Key Takeaways and Impact on Real Estate
The Union Budget 2025 focuses on economic resilience, tax reforms, and infrastructure development, significantly impacting India's real estate sector through various incentives and policy changes. -
How India’s Tier 2 cities are growing in response to global real estate trends
India’s Tier 2 cities are emerging as prime real estate destinations, driven by smart initiatives, sustainable practices, luxury developments, and improved connectivity. -
Real estate hotspots: Among the holy places with rapid development are Ayodhya, Varanasi, and Puri.
India's real estate is set for a boom, with 17 cities, including spiritual hubs, poised for growth. Government policies, infrastructure, and tourism are key drivers, attracting significant investment and transforming smaller cities into dynamic economic contributors. -
5 Things You Should Know About India’s Ghost Shopping Malls and the Challenges of Repurposing Them
India's retail landscape is shifting, with Grade A malls thriving while Grade C malls face high vacancy rates. Many struggling malls are being repurposed due to evolving consumer preferences and the rise of e-commerce. -
Get Returns From Real Estate Without Buying Property: Understanding REIT Investment In India
REITs in India offer investors a way to access the real estate market without direct property ownership. They distribute significant earnings as dividends, making them attractive to income-seeking investors. Learn how REITs work, how to invest, and key players in the Indian market. -
Is it possible to sell real estate without co-owner approval?
Selling jointly owned property in India requires the consent of all co-owners. Legal action can be taken if a co-owner sells without consent. This article explores the legal aspects of selling jointly owned property and the differences between co-ownership and joint ownership. -
What do you mean by FERA?
FERA, enacted in 1973, regulated foreign exchange dealings in India. Replaced by FEMA in 2000, which focuses on managing foreign exchange while promoting trade and investments. Key differences include property acquisition criteria, shifting from citizenship under FERA to residency under FEMA.
Puri, Odisha Real Estate News
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What occurs in India if property taxes are not paid for ten years?
Non-payment of property taxes for ten years can lead to severe penalties, legal action, and even foreclosure in India. It's crucial for property owners to understand the implications and address any arrears immediately. -
Five things the real estate industry anticipates from the finance minister’s budget in 2024
Finance Minister Nirmala Sitharaman presents Budget 2024, anticipating focus on affordable and middle-class housing. Industry seeks tax breaks, GST concessions, and incentives for developers and buyers. -
Enhancing Jaipur’s High-End Properties: The Unique Perspective of Akshat Developers
Jaipur is emerging as a luxury real estate hotspot. Akshat Developers' Sawai project epitomizes this trend, offering opulent villas and apartments amidst landscaped gardens and modern amenities. -
10 Things You Should Know About Election’s Impact on the Real Estate Sector
The real estate market experiences slower activity during elections, while homebuyers remain active, driven by needs, amid anticipation of policy changes. -
CBRE decodes real estate through the spiritual tourism lens
A new report reveals how retail chains are capitalizing on rising spiritual tourism in 14 Indian cities, highlighting trends and growth opportunities in the sector. -
According to the CREDAI-CRE Matrix report, India’s demand for Grade-A office space will exceed 70 million square feet by 2024.
In Q1CY24, Grade A office space demand in India surged, driven by key cities. CEDAI predicts demand will hit 70 MSF by 2024, supported by economic growth. -
India’s Commercial Real Estate Is On Track For Successful Growth This Year
India's commercial real estate market is poised for growth, bolstered by demand for office spaces and increasing interest from NRIs, promising lucrative investment opportunities. -
Shops, homes, and faith: places of worship ready for a surge in visitors
Retail boom in India impacts religious tourism. Tourists seek experiences beyond customary activities, driving growth in cities like Ayodhya and Varanasi.
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Overview of Puri from a Real Estate Perspective
Property Prices
- Starting prices for properties in Puri are at Rs. 6,250 per square foot, while the average price per square foot hovers at Rs. 6,986.
- The cost ranges dramatically, extending from Rs. 2,298 to Rs. 66,666 per square foot, varying based on locality and property type.
Localities and Price Trends
- Diverse localities in Puri show unique price trends:
- Baliapanda Housing Board Colony: Average at Rs. 7,822 per sqft, ranging between Rs. 7,467 and Rs. 8,000 per sqft.
- Badasirei: Averages stand at Rs. 3,906 per sqft.
- Makunda Mishra Nagar: Starts and averages at Rs. 6,250 per sqft.
- Badasankha: Starts and averages at Rs. 7,062 per sqft.
Market Trends
- Over the past five years, Puri has seen prices hike by approximately 200% due to urban and industrial growth.
- Currently, the real estate market stays strong, and experts predict further appreciation in property prices.
Demand and Supply
- Strong residential property demand exists in Puri from people attracted by job opportunities in infrastructure, aluminium, steel, and power sectors.
- Rapid urbanization and industrialization in the city push up demand for both residential and commercial properties.
Amenities and Infrastructure
- Puri properties usually have perks like gym facilities, spas, and car parks.
- The city has blossomed with malls, multiplexes, and recreational spaces, elevating property prices.
Rental Market
- Rentals in Puri fluctuate widely:
- From Rs. 8,000 to ₹25,000 to ₹35,000 per month for 2, 3, and 4 BHK houses respectively.
Investment Potential
- Seen as profitable for buying and selling due to rising property prices, Puri stands out.
- The budding industrial, commercial sectors, and tourism draw, including being a famed pilgrimage site and home to Golden Beach, attract investors.
PropertyWala’s Conclusion
Puri’s real estate market shows promising prospects marked by rising property prices and high demand spurred by urbanization, industry growth, and tourism. Based on current trends, both consumers and investors gain much from real estate here. However, it’s wise to pay attention to locale and market conditions to make a good decision. Choosing ideal circumstances and properties often brings success for investment in Puri’s market.