Real Estate projects in bhubaneswar has become synonymous with high end housing, with the launch of a numbers of high end projects in the last few years. These projects have always been in demand by the high end buyers for whom amenities are must for living. However, what is now visible is the growing demand for high end projects with all amenities.
One of the possible explanations is that maximum number of properties available in Bhubaneswar today is priced to cater to high-segment range. This in turn has positioned Bhubaneswar as a high-segment destination in eastern India and Odish.
As per the market data Real Estate projects in bhubaneswar are priced between Rs 40 lakh to Rs 2 crore and saw the maximum demand in Bhubaneswar. The supply was also found to be largely limited to this category. More than 60 per cent demand and supply was recorded in this category.
The Lower housing and stand alone projects have witnessed a drastic dip in demand; it is the high-segment residential projects that have flourished in the recent times. Developers have been smart to tap this segment by providing posh lifestyle and premium facilities at a price range of about Rs 40 lakh to just over a crore.
Buyers are being offered innovative design themes, international architecture and world-class facilities at a competitive prices way lower than an ultra luxury project of the nation. This has accelerated demand for such projects to a great extent as the buyer can experience luxury which fits into their pocket.
The segment has seen maximum demand from the upper middle class and the working professionals. High segment projects have mushroomed in various parts of the city. Areas like Khandagiri, Patia, Raghunathpur and Pahala are witnessing an array of such developments.
The price range varies from one area to another within Bhubaneswar. For instance, Khandagiri nearby projects by Tata, DN Homes, Vipul etc at a price point of Rs 3500-4,000 per sq ft. On the other hand, Ragunathpur has projects priced between Rs 3000-3500 per sq ft Z Builders, Manigroup among others.
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