Ahmedabad, Bhubaneswar, Kochi and Coimbatore are cities in India that are likely to witness immense development activities in 2013. Prices of residential units are likely to increase in all the cities because of the increased construction costs.
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The Confederation of Real Estate Developers’ Associations of India (CREDAI), Odisha chapter will hold a Property Expo from January 19 to 21 at the Hotel Swosti Premium, said its president DS Tripathy on Saturday. Tripathy said the expo would provide an opportunity for real home seekers with developers offering housing of various ranges at different locations.
BHUBANESWAR: After the arrest of businessman Tirupati Panigrahi and two of his associates for the alleged real estate fraud, realtors are worried that frequent incidents of cheating by a section of players are pushing the housing market into uncertainty.
“Buyers become wary of investment after such developments. Of late, hundreds of complaints have been reported about builders not keeping their promises. Many prospective buyers are staying away from investments apprehending developers’ credentials,” said D S Tripathy, state president of Confederation of Real Estate Developers Association of India (Credai).
A recent report by Cushman & Wakefield, the world’s largest real estate services firm along with GIREM, which deals with infrastructure area in future cities have jointly identified Bhubaneswar to be among the “Top 10 Emerging cities in India”. The report also highlights the potential of the two cities of Bhubaneswar and Cuttack developing into a 720 sq. km integrated Urban conglomeration including Khurda, Jatani and Choudwar within the city precincts.
Giving clear indications of his intent to take Odisha to the next platform on big time reforms, the Naveen Patnaik government gave its approval to investments worth of Rs 26,076 crore in various sectors. The step would give a breather to the government that has seen a clear shortfall in revenues earned over the past year owing to general slowdown of the economy that affects the entire globe.