Real Estate Properties in Bhubaneswar

Bhubaneswar, the capital of Orissa or Odisha, is an urban agglomeration that is developing quickly into a lively commercial hub. Home of the world-famous Odissi dance, the city has latched on to modernity while retaining its cultural richness.

Bhubaneswar is a city filled with religious history, dotted with almost 500 temples and aptly called the temple city of India. The city has beaches, lakes, waterfalls, zoos, parks, and gardens that light up during each festival.

The city was one of the first planned cities in India and replaced Cuttack as the capital of Orissa after India gained independence from colonial rule. Cuttack and Bhubaneswar are often referred to as the twin cities of Orissa.

Bhubaneswar is classified as a Tier-II city and has the fastest employment growth among 17 other Tier-II cities.

Stats and Facts

• Bhubaneswar population is 8, 81,988 according to the provisional reports of the 2011 census.
• The city has a sex ratio of 883 per 1000 males, although child sex ratio is a higher 903 per 1000 boys, as per the census 2011 reports.
• Bhubaneswar average literacy rate is 93%, of which female literacy is 90% and male 95.66%.
• Looking at factors like demographics, economic activities, government support, and physical, social, and real estate infrastructure, Bhubaneswar is listed among the top ten emerging cities in India by Cushman and Wakefield.
• The World Bank ranked the city as the third best in India for business. Orissa was ranked ninth in software exports in India by NASSCOM.
• The city is a Buddhist and Hindu pilgrimage spot, which contributes to the thriving tourism industry in the region. A hot sulphur water spring in the village of Atri and Bindu Sagar Lake are just a couple of the numerous tourist attractions in this city.

Services and IT Sector

• The city workforce is primarily involved in the tertiary sector comprising of 95.67% of working people as of 2001.
• Earlier, Bhubaneswar had an economy dominated by small-scale and retail manufacturing; with change in policies from 1991, the city became a center for information technology, higher education, and telecommunications.
• The city had around 1.5 million tourists in 2011. The tourism industry has become the largest economic contributor to the city. The modern infrastructure and well-planned areas make the city a treat for visitors and citizens alike.
• Bhubaneswar forms the apex of the golden triangle in Orissa with Konark and Puri. This and the temple town area are the biggest reasons tourists flock to the region.
• The first IT Park here was the Infocity IT SEZ. Over time the government encouraged the establishment of Mindspace IT Park by K Raheja Group, Info Valley IT SEZ by Orissa Industrial Infrastructure Development Corporation, and Info Park by DLF.
• The 205-acre Infocity was constructed to provide avenues for IT industries to grow in the region under the Export Promotion Industrial Parks Scheme. It houses MNCs like Infosys and TCS.
• Other big names that populate Bhubaneswar IT sector include Mindtree, Mindspace, MphasiS, Mindfire Solutions, Wipro, IBM, Firstsource and Genpact. In addition to this, there are around 300 small and medium-sized IT companies that have started up in the city.

Connectivity

• Bhubaneswar Airport, also called Biju Patnaik Airport, has flights operating to and from New Delhi, Mumbai, Hyderabad, Bengaluru, and Kolkata. It has the capacity of accommodating more than 30 million passengers every year.
• Bhubaneswar Railway Station is the divisional headquarters of the East Coast Railway. It has passenger and daily express trains to major cities like Chennai, Kolkata, and Bengaluru. The city has a total of five railway stations within its limits.
• National Highway NH-5, a part of the Golden Quadrilateral, connects the city to the rest of India and Orissa by road. Bhubaneswar’s excellent connectivity to other key locations has been a big contributing factor to its economic growth.
• The Odisha State Road Transport Corporation provides interstate bus services. The transport corporation has received awards on many occasions for its safe and affordable services.
• The Bhubaneswar City Bus service works on a public-private-partnership basis between Dream Team Sahara and Bhubaneswar-Puri Transport Service Limited. It was an initiative under the JNNURM scheme and provides transportation within the city and to areas nearby.
• Shared and unshared auto-rickshaws are available for local transport, and sometimes even cycle-rickshaws.

Bhubaneswar Civic Administration

• The Bhubaneswar Municipal Corporation (BMC) takes care of civic administration for the 67 wards and 46 villages in the city, headed by an administrator and a commissioner.
• The standing committees handle public utilities, town planning, and road maintenance.
• The BhubaneswarDevelopment Authority (BDA), headed by a chairman and vice chairman, takes care of the systematic urban development of the city.
• The state secretariat and state legislative assembly are located in Bhubaneshwar. The citizens elect one member to the Lok Sabha and three members to the state legislative assembly.

Bhubaneswar Infrastructure

Bhubaneswar is a fusion of the ancient and modern. It has grown from being a temple town into a city with organized housing complexes, parks, gardens, modern buildings, great educational institutions, and an open-air zoo. As Bhubaneswar is a planned city, the roads are wide and in a grid pattern. Bhubaneswar’s transport infrastructure was upgraded recently and more improvements are on the way.

Bhubaneswar Airport got a new domestic terminal in 2012, and international airline operators have shown an interest in running flights from the business hub. More community buildings and housing projects are on the way, complimented by the already existing educational institutes.

Reputed institutes like the Indian Institute of Technology, Bhubaneswar; National Institute of Scientific Educational Research; Institute of Physics; Xavier Institute of Management; and All India Institute of Medical Sciences are just a few of the important ones present in the city.

The Orissa Computer Application Centre tower provides affordable and top quality plug-and-play space for IT and ITES units here, encouraging the growth of that sector as well.

Infrastructure Projects

Bhubaneswar Real Estate Market

• Due to the inflow of big companies moving into the city, there is a need for high-end residential projects in Bhubaneswar. A changing demographic like Bhubaneswar’s needs various types of housing options. Real estate developers in the city have ongoing projects with houses in the range of Rs. 10 lakh to Rs. 20 lakh, as well as upscale housing options.
• Prominent developers include DLF, the Sahara Group, Utkal Builders, and Tata Housing. Tata Housing Development Company is building Ariana, a 12-acre luxury gated residential community with 12 towers going up to 19 stories high.
• There has been a constant increase in demand for residential units here and more developers have begun constructing 1 to 3 BHKs and studio apartments in Bhubaneswar.

Key Localities in Bhubaneswar

Charges by Different Government Bodies

Property Registration

Stamp Duty: 5% on the market value of the property

Registration Fee: 2% of the property value

Central Electricity Supply Utility of Odisha

The Central Electricity Supply Utility of Odisha transmits, distributes, and supplies electricity to an area covering 29,000 sq. km., which includes nine districts.

Electricity Tariff

Public Health Engineering Directorate Water Supply

The state Public Health Engineering Directorate (PHED) and Bhubaneswar Municipal Corporation are responsible for the supply of water to the city of Bhubaneshwar. Almost 220 ML of water is supplied by the state PHED, and BMC takes care of water needs in the outskirts. The watery supply is managed by the PHED.

E-Governance

Services like e-Seva, e-Municipality, e-Procurement, and e-Despatch have been formulated to provide citizens with easy access to a network of useful services. Computerized tender allotments and letter dispatch services have been created as well.

e-Municipality hopes to provide modern governance in the entire state by computerizing property tax management and welfare scheme management, amongst a horde of other services.