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Property in Bhubaneswar, the 'Temple City of India'

By Expert Author: Deepika B
Word Count: 611 words | Views: 944 view(s)
Bhubaneswar, the capital and the largest city of Orissa has some of the most famous temples in India. A well known tourist destination in East India, it is one of the cleanest and most well planned city of the country. Real estate in Bhubaneswar is picking up with big realty players entering the city with large scale property projects.

Popularly called the 'Temple City of India', Bhubaneswar has always been a residential hub with outlying industrial areas. It is not only a residential and industrial center but also a tourist destination, an education hotspot and a Telecommunication and IT hub. Being preferred across all these fields makes it witness fastest realty developments in the entire East India. From commercial to retail to residential property in Bhubaneswar, all segments are growing at s swift pace owing to the increasing demand. With affordable land and breathtaking beauty in backdrop, it comes across as an ideal real estate destination.

Along with Puri and Konark, Bhubaneswar forms the 'Golden Triangle' which is among the most visited destinations in Eastern part of the country. The most renowned temples of the city include Sun temple, Jagannath temple, Lingaraj Temple, Ananta Vasudeva Temple, Brhamesvara temple and various others. There are thousands of ancient temples in this modern city even as many more like Ram Mandir and ISKON were built recently. Besides the temples, Puri beach is also immensely popular among the tourists both domestic and international. Despite the cultural and historical richness, it dons the look of a vivid modern city welcoming more and more advancements. The property in Bhubaneswar is expanding with developers taking advantage of low land rates. The infrastructural facilities and standard of living is also experiencing a makeover as potential of the city as a realty hub is explored further.

The upcoming realty developments in Bhubaneswar comprise of mega housing projects or townships, Special Economic Zones (SEZ), residential complexes, retail chains, shopping malls and commercial centers. Large realty corporations like DLF, Reliance Industries, Saraf Group, Sahara, South City, Rahejas, Ansals, Unitech, Hiranandani, Parsvnath, Mantri and few others are helping in realty growth of the city. A thriving centre for commerce and religious activities, Bhubaneswar is seeing an IT boom with coming up of technology honchos like Infosys, Wipro, TCS, etc. The commercial boost has always been instrumental in the property growth of numerous cities and towns across India. And thus, Bhubaneswar realty is also growing by leaps and bounds to support the commercial boom in the city.

Real estate in Bhubaneswar offers right investment options as property prices are certain to grown once all the developments are carried out. In last 5 years, the realty rates have already been moving upwards, rising at a whopping 300 percent in some regions. The increased investments across various sectors are a primary reason for the staggering increase in property costs. Moreover, as soon as the scope for realty development in a region is realized and a few constructions are completed successfully, gargantuan demand for property comes in immediately. But, the building up of structures takes time and as a result, a supply deficit is recorded. This forces an upsurge in prices putting it forth as a profitable sector and city for large scale investments. Besides the areas within the city, Bhubaneswar is rapidly stretching out to include the twin hills of Khandagiri and Udayagiri as well as the Nandankanan wild life park in its peripheries.

Bhubaneswar real estate is expected to fetch huge returns in coming times as it attracts attention of investors and builders from all around the country. It is perfect for both buying purposes as one may even live in this beautiful modern city.
Deepika B

About the Author:

Deepika Bansal writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estate industry. It is a forum where buyers, sellers and brokers can exchange info. At 99 acres, you can advertise a property in India , search for a property, browse through Bhubaneswar Real Estate and Properties.

Article Source: http://www.articlesphere.com/Article/Property-in-Bhubaneswar--the--Temple-City-of-India-/239250

Article Tags: real estate, property, real estate india, appartments, house, buy house, property investment, real estate for sale
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