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 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.