Bhubaneswar, the capital of Odisha, and also famous as the temple city of India, is a city that has undergone rapid development over the years. The city has grown from being a small un-recognized town to a bustling metropolis, well-know to the entire world because of hosting the Hockey World Cup for 2 consecutive times and this growth has been reflected in the real estate industry as well. In this blog post, we at Mahodadhi Estate will take a deep dive into the past, present, and future of Bhubaneswar’s real estate industry and how it has evolved over time. You will also get to know how Mahodadhi Estate, as one of the emerging and trusted real estate companies in Bhubaneswar, is contributing to the development of the industry in it’s home town.
In the past, the real estate market in Bhubaneswar was primarily focused on residential properties, being that said the major sector was apartments, duplexes and plots. The city was not considered a major commercial hub then and hence, the demand for commercial properties was very minimal. However, with the development of the IT sector and promotion of youth and sports in the city, the demand for commercial properties has increased in since the last decade.
If you had invested in the real estate properties in the past, you must have the idea that the residential properties in Bhubaneswar then were primarily targeted towards the middle and upper-class population. The properties were small, compact, and affordable, catering to the needs of the local population, only a few outsiders invested in Bhubaneswar’s real estate. The real estate market in Bhubaneswar was not as so organized, professional and transparent as it is today.
The present scenario of Bhubaneswar’s real estate industry is quite promising and demanding. According to a report by the Confederation of Real Estate Developers’ Association of India (CREDAI), the city has witnessed a growth of around 8-10% in the real estate market in the last few years.
The demand for residential properties in Bhubaneswar is on the rise since the last decade, with the city’s population growing at a steady pace. The city is also seeing a significant increase in the number of working professionals, students from the outer states, leading to a rise in demand for rental properties.
The real estate market in Bhubaneswar has become more organized and professional in recent years which was not much transparent if we talk about the past histories. With the government’s focus on developing the city as a smart city, there are several upcoming real estate projects in Bhubaneswar in the pipeline that’s attracting population all around India to invest in it. The real estate industry in Bhubaneswar has become more transparent, with developers adhering to strict guidelines and regulations.
Looking at the current scenario, it’s crystal clear that the future of Bhubaneswar’s real estate industry is quite bright. It’s because the government’s focus on developing the city as a smart city, and also the rise in advanced educational facilities along with entry of big IT conglomerates into the city.
In addition, with the increasing demand and with an affordable pricing for residential as well as commercial properties, the government is also taking steps to promote affordable projects in the city. This could be the key factor to drive a huge and spectacular growth of the real estate market in Bhubaneswar in the coming years.
The city’s IT sector is also growing, with several big IT companies and consulting firms setting up their operations in Bhubaneswar. This has resulted in an increase in demand for commercial properties, which is further fueling the growth of the real estate industry in the city.
Mahodadhi Estate – An Emerging Real Estate Company in Bhubaneswar
Mahodadhi Estate is one of the trusted and prominent real estate companies in Bhubaneswar, well-known for its wide range of residential projects such as BluBerry, BluSapphire, and Mahodadhi Plaza. Our projects are designed to provide our customers with the best of amenities and features, while being the most affordable at any point and accessible to all class of population.
We believe in providing our customers with the best of services at a super affordable cost and are committed to delivering high-quality residential properties in Bhubaneswar. With a team of experienced professionals, we are contributing and will contribute to the growth and development of the real estate industry in Bhubaneswar.
As one of the leading real estate companies in Bhubaneswar, we at Mahodadhi Estate understands the importance of customer satisfaction and strives to exceed your expectations. Our projects are designed with the customer in mind, taking into account your needs and preferences on the first place. We leverage the latest technology, construction techniques and security measures to ensure that our properties are of the highest quality.
At Mahodadhi Estate, we believe in transparency and honesty, we keep our customers informed about the progress of your projects, and are always ready to address any concerns you may have.
In addition to delivering high-quality properties, Mahodadhi Estate strongly believes in giving back to the community. We are committed to sustainable development and take steps to minimize our impact on the environment and aim towards both net zero operational carbon by 2030 and net zero embodied carbon by 2050. We also support local communities by providing job opportunities on our construction sites and contributing to the development of the society and the city.
At last, Bhubaneswar’s real estate industry has come a long way and promising a bright future in the upcoming years. As a customer, you can trust us to provide you with the best of services and properties. Don’t hesitate to reach out to us for your property needs. We are always here to help you find your dream home.