Bhubaneswar, Nov 8: Bhubaneshwar, Coimbatore, Indore, Jaipur, Kochi, Lucknow, Nagpur, Surat, Thiruvananthapuram and Visakhapatnam are seen as potential future growth drivers for real estate in tier-II cities, according to a report released by CREDAI and property consultant major, Cushman & Wakefield.
A total 17 cities were ranked across various parameters and out of them 10 cities hold the highest potential for growth in the foreseeable future. Real estate business in Bhubaneswar is driven by IT, start-ups and local businesses.
Bhubaneswar is only tier-II city in eastern region to be placed in the list. The city’s population was 9 lakh in 2011 that reached 12 lakh by 2021 registering.
Besides, the ease of living ration in Bhubaneswar stands at 59.85 percent as second city in the country. During the last five years the city witnessed around 33.5 lakh domestic air traffic and 57,154 foreign travelers.
The Odisha government has approved 30 km metro rail project for the city following future demand of the city. The city is placed in second position in tertiary education with an average 30,760 enrollments in five years.
Similarly, prime residential price per square feet is Rs 8000 in the capital city of Odisha, Saheed Nagar leading the race.
