The United States-based Best Western International, one of the largest hotel chains in the world, is set to invest around Rs 300 crore for its education business in India. The company’s India arm has started work to build the first hotel management institute in Odisha while another four will be set up in the other regions of the country in the coming years.
Tier I cities are reaching a saturation point. Rapid industrialisation and increase in growth of services sector activities has resulted into increasing disposable income, favourable demographics, changing lifestyles and growth of population, which is becoming upwardly mobile. Prominent tier II cities such as Bhubaneshwar is witnessing increased interest by investors, particularly in the residential real estate market.
The state government has identified over 100 unauthorized buildings in Bhubaneswar for demolition, housing and urban development minister Raghunath Mohanty told the state assembly on Wednesday. The minister said the government has so far identified 530 buildings and apartments in the state capital, which violated the BDA norms. Officer on special duty (OSD) to BDA has lodged cases against the violators, he added.
The onslaught of unprecedented urbanisation is taking a toll on infrastructure development. Many new housing projects coming up along major roads are creating difficulties for laying smaller connecting roads for plots away from the main road. To check such unplanned growth, the Bhubaneswar Development Authority (BDA) is formulating a policy wherein it will become mandatory for real-estate developers to produce a no-objection certificate (NOC) issued by the authority before launching any new housing scheme along major roads in the city.