News coming up from Orissa, property price prevailing in the state, especially in the capital city Bhubaneswar may undergo a correction as a result of massive construction projects undergoing in thttp://www.blogger.com/img/blank.gifhe city which according to the expectation will even be more than the demand of the people.
According to DS Triapthy, president of Orissa chapter of the Confederation of Real Estate Developers Association of India (CREDAI), within an year around 40,000 new houses will be constructed in and around the city of Bhubaneswar which as he states may surpass the demand which can further lead to a fall in prices of the houses. He also stated that the prices of the commercial properties such as office space and many residential properties have risen by 10% in the preceding 6 months majorly due to rising demand and increasing input costs.
According to Mr Triapthy the prices in the city of Bhubaneswar has been among the top cities of the country in terms of growth rate of property prices. Many cities of the country has already experienced much development in the real estate sector and are on the verge on reaching saturation whereas Bhubaneswar isn’t much close to such situation which may lead to a stagnation of the price.
According to DS Triapthy, president of Orissa chapter of the Confederation of Real Estate Developers Association of India (CREDAI), within an year around 40,000 new houses will be constructed in and around the city of Bhubaneswar which as he states may surpass the demand which can further lead to a fall in prices of the houses. He also stated that the prices of the commercial properties such as office space and many residential properties have risen by 10% in the preceding 6 months majorly due to rising demand and increasing input costs.
According to Mr Triapthy the prices in the city of Bhubaneswar has been among the top cities of the country in terms of growth rate of property prices. Many cities of the country has already experienced much development in the real estate sector and are on the verge on reaching saturation whereas Bhubaneswar isn’t much close to such situation which may lead to a stagnation of the price.
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