Bhubaneswar's Hidden Real Estate Gems by Dr. Sumantra Misra

In the realm of real estate investment, Tier 2 cities are emerging as compelling
destinations, and none exemplify this transformation quite like Bhubaneswar. This
article delves into the factors contributing to the phenomenal growth of
Bhubaneswar, outlining the opportunities that lie within its dynamic real estate
landscape.

1. www.urbana4dables.com
BHUBANESWAR'S HIDDEN
REAL ESTATE GEMS:
UNVEILING THE UNTAPPED
POTENTIAL
U-A4D Publications
Authored by Dr. Sumantra Misra
Professor of Architecture, PMCA

2. 02
01
03
Introduction
The Unseen Potential
Underestimated
Neighborhoods
04
05
Emerging Infrastructure
Projects
Conclusion
Table of contents

3. Introduction
In the realm of real estate investment, Tier 2 cities are emerging as compelling
destinations, and none exemplify this transformation quite like Bhubaneswar. This
article delves into the factors contributing to the phenomenal growth of
Bhubaneswar, outlining the opportunities that lie within its dynamic real estate
landscape.
1. Economic Resurgence:
Bhubaneswar has positioned itself as a key economic player in the Tier 2 city
category. The city's economic resurgence is driven by strategic government
initiatives, a favorable business climate, and a robust infrastructure that attracts
businesses seeking untapped potential beyond the traditional metropolitan hubs.
2. Infrastructure Renaissance:
A significant catalyst for Bhubaneswar's growth is its ongoing infrastructure
development. Smart city projects, modern transportation networks, and sustainable
urban planning are reshaping the city's landscape. These investments not only
enhance he quality of life for residents but also make Bhubaneswar an attractive
destination for real estate development.
3. Educational Hub and Talent Magnet:
Bhubaneswar has evolved into a burgeoning educational hub, drawing students
from across the country. The presence of esteemed educational institutions
contributes to a pool of skilled professionals, positioning the city as a magnet for
talent. This influx of skilled workforce enhances the demand for residential and
commercial spaces, driving real estate growth. Bhubaneswar is also famed as the
only city in India to have hosted the highest number of International Hockey
matches.

4. 4. Cultural and Lifestyle Renaissance:
Beyond economic and infrastructural facets, Bhubaneswar is experiencing a cultural
and lifestyle renaissance. Art festivals, culinary events, and a vibrant cultural scene
are fostering a dynamic community. As the city evolves into a cultural hub, real
estate investments stand to benefit from the growing demand for spaces that cater
to an enriched lifestyle. Events like Rahagiri, Kalinga Literary Festival, BhuFesto and
DOT Fest have collectively captured the imagination of the whole nation.
5. Real Estate Opportunities:
The burgeoning growth of Bhubaneswar translates into compelling real estate
opportunities. Certain neighborhoods are witnessing remarkable appreciation as the
demand for residential and commercial spaces continues to rise. Investors keen on
long-term, sustainable returns are increasingly turning their attention to
Bhubaneswar's real estate market. In this formal yet eye-opening document, we
delve into the areas poised for remarkable appreciation in the future, transforming
the real estate narrative in the city. Discover the lesser-known areas in
Bhubaneswar that hold tremendous potential for real estate appreciation. Uncover
the hidden gems that many are oblivious to, presenting a unique opportunity for
strategic investments. Explore the neighborhoods that have been underestimated or
overlooked by the majority.

5. The Unseen Potential
Bhubaneswar was selected as one of the first 20 Indian cities to be
developed under Prime Minister Narendra Modi’s flagship Smart Cities
Mission. India’s Smart Cities Mission aims to create 100 smart cities in
the country as a model for development and to bring improvements to
nearby cities and towns. A total of ₹98,000 crore ($15 billion) has been
approved by the Indian Cabinet for the development of 100 smart cities
and the rejuvenation of 500 others over five years. Cities are selected
through the Smart Cities Challenge, based on feasibility and potential
social and economic impact. Bhubaneswar ranked first in the cities
announced in January 2016.
01| The only Tier-2 city in India where all of India’s top five
companies have bases. These are Infosys, Wipro, Tata
Consultancy Services, Tech Mahindra and Mindtree.
02| Ranked as the third best place to do business in India by
the World Bank.
Other Awards and Titles
03| One of the four planned Information Technology
Investment Regions in India.
04| Winner of the 2017 American Planning Association’s Pierre
L'Enfant International Planning Excellence.

6. North
The city has more or less grown organically in
accordance with the “Perspective Plan – VISION
2030 and Comprehensive Development Plan for
Bhubaneswar – Cuttack Urban Complex”
submitted in the year 2007 by experts from the
Department of Architecture and Planning, IIT
Kharagpur. As was envisioned in the seminal
work, Cutack and Bhubaneswar would cease to
remain as two separate entities and merge
seamlessly from two approaches. One would be
along the NH16 and the other would be along the
road to Trisulia, via Barang. However, after the
construction of the crucial bridge over the
Kathajodi at Trisulia, the two cities met more
prolifically along the Barang axis rather than
along the NH16. This was typically due to the
phenomenal growth of Patia and suburbs. The
two most crucial contributors to this exemplary
growth in the Patia_Raghunatpur area are KIIT
University and Infocity 1. Areas in the North to
look out for are mentioned below:
Jagannathprasad
Daruthenga
Sundarpur
Underestimated
Neighborhoods
East
With heritage sites like Dhauli now within the
jurisdiction of BDA, the areas as far out as Pipili
NAC are witnessing an astounding boom in real
estate value. Besides being part of the Ekamra
Kshetra Heritage Zone, where the original
settlement of Bhubaneswar village surrounded
the Lingaraj and Mukteswar Temple, the following
districts towards the East are bound to appreciate
manifold:
Pubasasan
Kausalyaganga
Uttarasasan
South
Khordha Town, the capital of the district in which
Bhubaneswar is located, will be a major magnet
in the future. Almost all major investments
(Public and Private) are concentrated in the
Southern Corridor. Major IT, Food, Biomedicine
Parks are all located in that region and a spurt of
flyovers being built in the area will ensure smooth
traffic movement. Some of the biggest Real
Estate Developers have made a beeline to
procure land in that area. Some of the areas that
are sure to pick up in terms of real estate value
are mentioned below:
Mukundaprasad
Jarsinga
Kuradhamal Square (Junction between
proposed Great Byepass Road and NH 16)
West
The recently operational Education Hub planned
by IIDCO in Malipada has helped the city grow
Westward. Colleges like IIIT, Birla Global
University and STPI have bolstered the real
estate prices in the area. The proximity to the
proposed Great Byepass Road lends an added
advantage. The area also infringes on the very
scenic Jhumuka-Deras Minor Irrigation Project
located in the Banki-Dampara Block, making the
area ideal for Deluxe Bungalows and Premium
Gated Communities. Areas where prices of
property will appreciate significantly in the future
are listed below:
Malipada
Gothapatna
Kantabada

7. Emerging Infrastructure
Projects
A stable and steady State Government which has been holding sway over its
people for the 5th term and shows no sign of slowing down results in actionable
planning policies. A feather to the cap has also been its selection as one of the top
10 Smart Cities of India in the year 2016. A few of the major projects in the anvil
are mentioned below:
GREAT BYEPASS ROAD
BHUBANESWAR METRO BARAMUNDA ISBT
UPGRADATION OF OLD RAILWAY STATION AND PRECINCTS
NEW RAILWAY STATION AT BARANGMORE FLYOVERS ALONG NH 16

8. Suggestive Projects in the Perspective Plan –
VISION 2030 and Comprehensive
Development Plan for Bhubaneswar-Cuttack
Urban Complex (BCUC)
Zones for multiplex, Retail-malls and theme parks for outdoor recreation
Film city development with ample natural resources and back up from Odia
film industry with necessary infrastructure
Logistic Hub for the prime urban centers
Textile parks with cottages and medium scale industries for local specialized
weaving art.
Multi level Freeways for better accessibility with all roadside modern
facilities (Private Sector participation)
World Class Club-towns
Flood management plan for Cuttack with innovative technology (Venice
Model)
Garland Lake System to develop and protect the water bodies in the region
Major organized open spaces like, urban squares, ceremonial / recreational
grounds, and permanent fair grounds as image developers
Health city/ Education city/ Software parks etc (new urban districts)
Waterfront development with landscape conservation
Travel Circuit (Architecture/Archeology/Religious) with facilities like “Palace
on Wheels” for international and national tourists
“Utkal Sanskriti Prangan” – A representational centre of traditional art and
culture, craft, cuisine, living style, fair and facilities of Odisha at
Bhubaneswar.
Development of Traditional Art Village (Paper/Cloth/Silver/Pottery) in the
line of “Arts Acre” in the peri-urban areas of Bhubaneswar
Adventure tourism for Reserve forest/ Nature Study camp areas for rare
natural species zone
Development of Nature Corridors –to provide a feel of flora and fauna in the
urban setup

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Conclusion
Bhubaneswar is at present, on the verge of a major transformation in diverse
sectors such as industry, information technology, tourism, healthcare, education
etc. In view of such a development potential, the area of operation of BDA will
be the hub of major urban activities in future. Any investment in property should
be carefully considered and the advice of real estate experts help in a more
informed decision-making.
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Disclaimer: This white paper is intended for informational purposes only and does not constitute financial advice. It is recommended to
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