Odisha is at a pivotal moment – becoming the growth engine of Eastern India
OdishaPlus Bureau
Odisha to promote balanced urbanization and ensure sustainable development.
Governor Hari Babu Kambhampati emphasized the importance of ethical business practices and customer-focused models to foster trust within the sector.
“Odisha is at a pivotal moment – becoming the growth engine of Eastern India. Smart cities such as Bhubaneswar and Rourkela, along with the Bhubaneswar-Cuttack-Puri Corridor and significant industrial corridors, are revealing vast potential,” he remarked.
While addressing an Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers’ Associations of India (Credai) on Friday, the governor stated, “Real estate developers should concentrate on tier-2 and 3 cities for balanced urbanization and invest in affordable housing, green development, and digital infrastructure.”
The EGM of the association returned to Odisha after a nine-year hiatus.
The event convened a distinguished panel of national leaders, developers, policymakers, and stakeholders to discuss the future of real estate, investment opportunities, and sustainable urban development.
Credai president Shekhar G Patel noted the transformation of Bhubaneswar over the past decade, asserting, “From a twin city, we now envision a vibrant tri-city cluster that includes Bhubaneswar, Cuttack, and Puri. This area is set to become one of India’s top 50 urban centers.”
He highlighted the real estate sector’s contribution to India’s economy.
“Currently accounting for 8.4 percent of India’s GDP, it is the second-largest employment generator after agriculture. With RERA enhancing the industry, 95 percent of the sector is now organized. By 2030, it is anticipated to evolve into a USD 1 trillion sector, contributing 10 percent to the GDP.”
Credai Bhubaneswar president and MLA Sofia Firdous remarked that with strategic central initiatives like the Smart City Mission, Bhubaneswar is emerging as the real estate capital of Eastern India.
