Real Estate Market in Bhubaneswar
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Below mentioned are some of the reasons that will well define the scope and opportunities in real estate investments.
- In the year 2009 Odisha was second top Domestic Investment destination with Gujarat first and Andhra Pradesh in third place according to an analysis of ASSOCHAM Investment Meter (AIM) Study on Corporate Investments. Orissa's share was 12.6 percent in total investment in the country. It received investment proposal worth Rs. 2, 00,846 crore during the last year.
- The growing population of the city 19, 00,000 making it the 22nd largest urban centre in the country and the rising disposable incomes of its denizens led to high demand of residential property.
- The entry of IT industries in the city is another reason for development of Bhubaneswar property market. The high paying Technology companies like Infosys, TCS, Wipro and IBM have raised the need for residential as well as commercial setups.
- World Bank ranks Bhubaneswar as 3rd best city in India to do business â (Doing Business in India 2009 report). Its strategic location on coastline and richness in minerals and natural resources makes it the the most preferred investment destination for many Indian and Multinational corporate.
- Its emerging as the latest knowledge hub in India with several new public and private universities such as NISER, IIT, IIIT, National University, National Law University, AIIMS, Vedanta University, NIPER, and several other new institutions . The city aims to export software worth appox. $1billion by 2011-2012.
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