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Puri, Odisha Property Guide
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Puri, Odisha Real Estate News
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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.