Unlocking Potential: Real Estate Opportunities in Odisha's Tier II and III Cities

Odisha Governor Hari Babu Kambhampati has urged real estate developers to channel investments into tier II and III cities, aiming for balanced urbanisation and sustainable growth.

In his address at the Extraordinary General Meeting of the Confederation of Real Estate Developers' Associations of India (Credai), Governor Kambhampati emphasized the imperative of ethical business practices and a customer-centric approach to fostering trust within the sector. He highlighted Odisha's pivotal role as Eastern India's burgeoning growth engine, with smart cities like Bhubaneswar and Rourkela, and major urban corridors unveiling tremendous potential.

Credai President Shekhar G Patel outlined Bhubaneswar's transformation into a dynamic tri-city cluster, alongside Cuttack and Puri, positioning it among India's top urban centres. As the real estate sector contributes significantly to India's GDP, President Patel projected its growth to a USD 1 trillion industry by 2030, underscoring its crucial role in the nation's economic landscape. Meanwhile, Credai Bhubaneswar President and MLA Sofia Firdous noted Bhubaneswar's emergence as Eastern India's real estate capital through strategic central initiatives like the Smart City Mission.

(With inputs from agencies.)