Bhubaneswar is gaining prominence as one of India’s next real estate markets, with residential prices currently ranging between Rs. 6,550 and Rs. 8,550 per sq. ft.
The trend is highlighted by the recent CII and Knight Frank India report, ‘India’s Next Real Estate Markets’, which identifies 11 emerging cities including Bhubaneswar, Bhopal, Indore and Jaipur. According to the report, these 11 cities recorded 8% compound annual growth in residential prices between 2016 and 2026, compared to 4% across 8 major metros.
Rajesh Agarwal, Director, Oriom Group, said the shift towards Tier-2 cities is structural. He noted, “The epicenter of India’s growth story is shifting decisively towards Tier-2 cities. Bhubaneswar, with its exceptional blend of modern infrastructure, rapid urbanization, and a high quality of life, has evolved into a mature and highly sought-after real estate destination.”
He attributed Bhubaneswar’s rise to progressive state policies, robust infrastructure, a thriving MSME ecosystem and skilled talent inflow.
Oriom Group, originated in Jharsuguda and headquartered in Bhubaneswar, has launched Oriom Realty to develop premium residential, retail, commercial and mixed-use projects across Odisha, starting with Bhubaneswar. The diversified group has a 21-year presence in steel and power, speciality chemicals and refractories.
