Commercial Property in Bhubaneswar

An international convention centre under the aegis of the IDCO and a DLF promoted SEZ, the Info Park adjacent to Infocity are upcoming commercial projects in Bhubaneswar. Another grand project, the Knowledge Industry Township will be located 15 kms away from Bhubaneswar on 784 acres, integrating an SEZ, residential and commercial spaces with recreational facilities. The project will cover 1500 acres in Phase I and extend to 4000 acres in Phase II.

Genpact is engaged in a joint venture with IDCO for a BPO complex on 29 acres within Bhubaneswar, out of which 12 acres are reserved for Genpact’s operations. Satyam Computers is also investing in a Software Development Centre at a cost of Rs. 242 lakh

The success of Future group’s Big Bazaar in the city has led to the opening of the second store at Maruti Mall in Bhubaneswar. Pantaloon Retail expects to open a store in Bhubaneswar by September 2007 and the Cuttack Food Bazaar by mid-2007.

Residential Property in Bhubaneswar

Though towering condominiums are absent in this growing city, real estate projects have moved towards group housing societies on a fairly large scale in Bhubaneswar. From independent bungalows and villas, residents are opting for low-rise apartment complexes that are focused on aesthetically designed, well-equipped apartments that compare with quality projects in the metros.

Some of the latest projects are Royal Enclave by Shuvam Builders and Saswat Homes on Nandankanan Road, Sekhar Avenue by Sekhar Builders and Magnum Residency from Magnum Dream Homes, which is barely a kilometer away from Cuttack Road and Kalpana Square.

Under construction projects include Royally Enclave at Samantarpur, Aditya Enclave, Aarchie Homes, Vaishnavi Palace and Sai Suman at Patia, Sartala VIP Enclave, Sandipani village and Kunjal Garden at Khandagiri, and Cosmo Estate II at Raghunathpur

IDCO has undertaken the construction of a 642-unit government housing colony in Bhubaneswar, which is expected to be ready by January 2008 at a cost of 36 crore. The first phase of the new colony for government employees is now ready for occupation by 442 families.