Realty Boom in Odisha

Real estate is blossoming in Odisha with the major IT players setting up their base (development centres) especially in Bhubaneswar and its outskirts. Players like Tata, Mahindra, Infosys, Wipro have setup their base in the Infocity park, Bhubaneswar. Many international BPOs, Multi-national Banks, etc have also establishing their offices/bases in Bhubaneswar.

Bhubaneswar

Bhubaneswar is an emerging city, situated 50km away from Bay-of-Bengal. It is the capital of Odisha and the largest city in the state. The city is termed as temple city and is a centre of religious importance. The city together with Puri and Konark forms a (Swarna Tribhuja) golden triangle is the most favourable tourist destination in India.

The infrastructure development of the city is entrusted upon Bhubaneswar Development Authority (BDA), created by the state government during 1983. The objective of BDA is to take up planned and systematic development of Bhubaneshwar Development Plan Area (BDPA). The authority had prepared a blue print to develop the city with a Comprehensive Development Plan in 2010 (CDP) with a vision to create a world class city that will not only have high end activities and centers of excellence, but also will have a distinct identity based on its rich cultural background and natural resources. The Authority has chalked out an ambitious Rs 29,500 crore investment under CDP.

The Comprehensive Development Plan has emphasized for development of new housing colonies and new Integrated Townships in the extensive development zones. The Authority has taken steps to develop a Satellite Township over an area of about 1200 acre in Jagasara, Jagasarapatna and Madanpur mouza of the BDPA. The IL&FS IDC has been engaged as Consultant/Advisor to this project. This integrated township will provide housing to around one lakh of population.

Bhubaneswar and its outskirts are developing at a faster pace. The adjoining locations like Jatni, Patia, Nandankanan Road, Rasulgarh, Cuttack Road is rapidly growing with many leading realty projects are under development stage. Many leading developers like, DLF, Utkal Builders, new entrants like Trishna Real Estate Pvt. Ltd. are developing realty projects across the city.

Metro Satellite City by DLF Group

DLF group is developing Metro Satellite City Phase-III at Naharakanta/Rudrapur, in Bhubaneswar is claimed by the group as the largest private colony in the state. The township project is entirely eco-friendly and having 300 duplex and 250 apartments, is equipped with shopping center, temple, state level indoor badminton court, own doctors clinic, Joggers Park, gymnasium et al.

The project is being developed with Ample Greenery, scientifically done by Green Thumb India, a Pune based firm. It has its own sewerage system from a Singapore based plant.

Metro Highway is another residential project being developed by the group at Phala, Bhubaneswar. The project is having different types of floor planning with different floor area.

DLF is planning an ambitious project “Metro Palms International” a high end business complex that will be cynosure in the country. The dream project will have the highest standards of IT/ITES buildings in this country where the business conglomerates can land in style for their meetings. This will provide high-end retail space for the connoisseurs.

TSL Spring City

TSL Spring City is “Trishna Skyscrapper Ltd’s” a Kolkatta based real estate developer’s maiden project in Odisha, coming up in the state capital, Bhubaneswar. The project is an integrated township spanning across 32 acre land coming up in the periphery of Bhubaneswar Development Authority in the lap of nature. The project is located in Kantabada, adjacent to National highway, and will have all modern amenities suitable to the budget of every common man.

BDA invites bids for residential complex

The Bhubaneswar Development Authority has invited bids from eligible companies for development of residential complex in the state.

The bids have been invited for development of integrated commercial / residential complex over 3.260 ha of prime land at Chandrasekharpur, Bhubaneswar in Khurda district of Orissa. Last date for the submission of bids is 11 January 2013.

OSHB invites bids for project in Bhubaneshwar

The Orissa State Housing Board (OSHB) plans to develop an integrated residential and commercial complex in Bhubaneshwar.

The OSHB has identified a plot spread over around nine acre in Mouza Suango under Bhubaneshwar tehsil, Khurda district. It has invited bids from prospective developers for the project on PPP basis wherein a minimum of 80 per cent of the total built-up space will be for residential while 20 per cent will be for commercial use.

The final date of submission of bids is 6 April 2011.

Orissa allots land for food park at Malipada

The Orissa Government has allotted 110 acre to 55 industrial units for the proposed food processing park project at Malipada in Khurda district.

The park will be developed on 162 acre. The state government will invest Rs 9.9 crore on infrastructure for the food park and out of this Rs 1.91 crore has already been deposited with the Industrial Infrastructure Development Corporation of Orissa.

Besides, the state also plans to set up a mega food park in Khurda and the proposal is under the consideration by the Union Government. The project is to come up on 200 acre. Tenders for this project are likely to be invited soon.

Vipul’s housing project in Bhubaneshwar faces hurdles

The State Environment Impact Assessment Authority (SEIAA) of the Orissa Government has served a notice on Vipul to stop work on the group housing project in Bhubaneshwar without the necessary environmental clearance.

The company has been carrying out construction work on its project spread over 10 acre at Shankarpur mouza on the outskirts of the city after getting the building plan approval of the Bhubaneswar Development Authority in April 2009.

The entire Rs 250 crore project consisting of 578 apartments in 10 towers was scheduled for commissioning within four years.

MoEF nod for Vedanta University

The MoEF has accorded clearance to the proposed Vedanta University in Orissa promoted by the Anil Agarwal Foundation (AAF). The project which has been facing land acquisition problems has also got the CRZ (Coastal Regulatory Zone) clearance.

AAF plans to develop a multi-disciplinary university on the Puri-Konark marine drive at an investment of Rs 5,000 crore. The university will be spread over 6,892 acre with a total construction area of 273.68 lakh sq mtrs.

As per the project blueprint, 1,500 acre is earmarked for academic block, 1,200 acre for R&D centre and research work and 1,092 acre for green belt and open spaces. A township is likely to come up over 2,100 acre for the faculty. A sports complex spread over 100 acre and an exhibition centre on 100 acre are other features of the university project.

Meanwhile, in the first phase of the university project, a 500-bed multi-specialty hospital will come up on 37 acre at a cost of Rs 400 crore.