With a high-level three-lane bridge all set to come up in three years over Kathjodi river on NH-5 connecting the twin cities of Cuttack and Bhubaneswar, prices of properties in Cuttack, particularly the suburbs, may touch new heights now. While the real estate in the suburb areas has already been witnessing a boom in recent times, such a move will end up placing Cuttack Property high on the demand list.
Even though the capital city of Bhubaneswar has emerged as one of the most sought after destinations for realty developers and builders, Cuttack property have also witnessed a sea change in the last few years for its proximity to the capital besides the city’s burgeoning population.
In fact, even under the Twin City development plan, the State Government of Orissa plans to bring in adjoining 500 villages and a mega city will be created. With the State attracting some of the biggest investments from organizations like POSCO, TATA, Aditya Birla Group and Arcelor-Mittal, a plethora of avenues have opened up for real estate firms and builders and the Government wants to eventually expand Bhubaneswar towards Cuttack and ultimately join the two. Such a move will further increase the demand for properties in Cuttack.
Keeping this in mind, real estate developers and builders have been eyeing properties in Cuttack and have come up with several projects in the city and have also lined up quite a few in the near future in areas including Makarba Sahi, Buzi Bazaar, Sector 9 of CDA, Bidanasi and Shelter Square.
Since Cuttack is a smaller city than Bhubaneswar, the options for planning too many projects within the city have exhausted but the properties in Cuttack suburbs for sure provide a chance to builders to envisage and design dream housing projects! The upcoming housing development projects will see the availability of flats and apartments in various dimensions and for different categories of home seekers.
In a bid to provide basic accommodation facilities to the local and migratory communities, the Cuttack property have also caught the attention of the state housing board and the city housing authorities, who have planned to introduce a series of housing projects, in the city.
In fact, one of the other reasons as to why builders and property developers have shifted their focus to properties in Cuttack is that the fundamental infrastructure of the city is now being given prime importance by the authorities concerned. As a result, home builders from across the nation are showing their interest in Cuttack properties. The Cuttack Developments Authority supervises all real estate developments in the city. They hire builders & developers on contract for construction projects for direct sales and also sell land to the major builders for development.
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