Real Estate in Cuttack witnesses brisk development of both constructions of property and its growing demand. There are many reasons for the rapid development of the real estate business in the city of Cuttack. Some of them are as follows.
The growing population of the city and the rising incomes of its denizens led to high demand of residential property. There are heavy investments coming to Odisha and Cuttack being the hub for medical facilities captures the major share of these investments. They are then further absorbed in developing the real estate sector of the city. The population and having many major organizations including High Court, SCB Medical College etc. and many to the list in the city is another reason for the development of Cuttack property market.
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The high paying Technology companies have raised the need for residential as well as commercial setups. Many people choose Cuttack as their abode due to the low pollution levels and better cover of greenery than other big cities. Its strategic location on coastline and rich in minerals and natural resources makes it the most preferred.
A large number of builders and developers are entering the cities of Cuttack and Bhubaneswar with mega residential projects. The boom in property demand has affected coming up of independent bungalows, villas, low-rise apartment complexes, etc. that are aesthetically designed, well-equipped and high quality.
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The retail segment of Cuttack is also witnessing a phenomenal growth with large format malls coming up. The prime areas of Cuttack include Trisulia where the capital city of Odisha i.e Bhubaneswar isin the south. The price of land in Bhubaneswar has been moving upward for the last few years. That’s why peoples are more interested in getting a real estate property in Cuttack rather to get one high valued property from Bhubaneswar.
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