Bhubaneswar Real Estate Bounces Back, Boosting Economy (2024)

Last Updated -- June 27th, 2024

In a significant development for the real estate sector, the registration of sale deeds for apartments in Bhubaneswar has resumed after a hiatus of two years. This decision is expected to rejuvenate the property market and facilitate transactions that were previously stalled.

Relief for Developers and Homebuyers: The resumption comes as a relief to developers and homebuyers alike, as it signals a return to normalcy in property transactions within the city. The halt in registration had been a major concern for stakeholders, impacting the pace of real estate activities and causing uncertainties among buyers.

Improved Administrative Processes and Easing of Bureaucratic Hurdles: Authorities have attributed the resumption to improved administrative processes and the easing of bureaucratic hurdles that previously hindered the registration process. This move is likely to boost investor confidence and revive interest in the Bhubaneswar property market.

Positive Impacts for the Local Economy: The recommencement of sale deed registrations is anticipated to have a cascading effect on the local economy, generating revenue for the government and creating employment opportunities across various sectors linked to real estate.

Optimism for Sector Recovery and Sustained Growth: As stakeholders adjust to the renewed registration process, there is optimism about the sector’s recovery and its ability to sustain growth momentum. The focus remains on smooth execution and transparency in property transactions to support sustained development in Bhubaneswar’s real estate landscape. This resumption of registration of sale deeds in Bhubaneswar comes as a breath of fresh air for both developers and homebuyers. The two-year hiatus had brought about uncertainties and disruptions in the property market, impacting the pace of transactions and dampening investor confidence. However, with improved administrative processes and the easing of bureaucratic hurdles, the registration process is now back on track. The decision to resume registration is expected to bring about several positive impacts. Firstly, it will provide a boost to the local economy by generating revenue for the government. The sale deed registrations, being an essential aspect of property transactions, attract a substantial amount of revenue, which will further contribute to the city’s development. Moreover, the resumption will also create employment opportunities across various sectors linked to real estate. From construction workers to administrators and real estate agents, the revival of property transactions will lead to increased activity in related industries, ultimately spurring job creation. Stakeholders in the real estate sector are optimistic about the future. The revival of registration procedures has instilled a renewed sense of hope and confidence in the market. Developers can now move ahead with their projects without delays, and homebuyers can be reassured that their investments will be legally safeguarded. However, it is crucial for the focus to be on smooth execution and transparency in property transactions. The proper implementation of administrative processes and the eradication of undue bureaucratic hurdles will be pivotal in supporting sustained growth in the Bhubaneswar real estate landscape. In conclusion, the resumption of sale deed registrations in Bhubaneswar marks a significant milestone for the real estate sector. It not only brings relief to developers and homebuyers but also sets the stage for economic growth and employment opportunities. The sustained recovery and growth of the sector now require continued efforts towards streamlining property transactions and maintaining transparency, ensuring a flourishing real estate market in Bhubaneswar.

See Also

Top 5 Posh Areas In Hyderabad: Most Expensive Areas To Live!Top 10 most selling real estate projects in Bangalore in 2024 (January - March)

Aayush Kukreja Apart from being a literature student and a theatre practitioner, Aayush is a daydreamer! He loves poetry and just as a poet should be, he’s witty, opinionated and completely clueless about life. Reach out to him anytime for some good old sher-o-shayari. Here, he writes about the quirkiest and the most interesting of things. To the rhythm of life and words, cheers!

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lazyImage.dataset.src.replace(baseUrl,'') : '')){ lazyImage.src = lazyImage.dataset.src; } } }) }); var arr = document.querySelectorAll('img.lazy') arr.forEach((v) => { imageObserver.observe(v); }); } function homePageContactFormBtnClick(selectedtabval){$.post("https://www.squareyards.com/home/homepageleadformoverlay", function(data){$("#dev_contact_form_v1").html(data); globalfn.enableButtons(); $('.homePageLeadFormOverLay').addClass('active'); var selectedtab = $(".homePageLeadFormOverLay .homeFormBox .propTab.fixedTab").attr("tabval"); if(selectedtabval){ selectedtab = selectedtabval; $(".homePageLeadFormOverLay .homeFormBox .propTabBox").hide(); }else{ $('.homePageLeadFormOverLay .homeFormBox .propTabBox').show(); } var formdata = {"selectedtab":selectedtab}; opencontacthomeformv1(formdata);}); /* $.ajax({ async: true, dataType: "html", contentType: "application/json", success: function(data, textStatus) { $("#dev_contact_form_v1").html(data); $('.homePageLeadFormOverLay').addClass('active'); var selectedtab = $(".homePageLeadFormOverLay .homeFormBox .propTab.fixedTab").attr("tabval"); var formdata = {"selectedtab":selectedtab}; opencontacthomeformv1(formdata); }, error:function(error){ console.log(error); }, type: "POST", url: "https://www.squareyards.com/home/homepageleadformoverlay" }); */ } function homePageContactFormBtnClickForSingle(){$.post("https://www.squareyards.com/home/homepageleadformoverlay", function(data){$("#dev_contact_form_v1").html(data); globalfn.enableButtons();$("#dev_home_propertytabbox").remove();$('.homePageLeadFormOverLay').addClass("homePageLeadFormSingle");$('.homePageLeadFormOverLay').removeClass('homePageLeadFormOverLay'); var selectedtab = "newproject"; if(window.location.href.endsWith("-decart") == true || window.location.href.endsWith("-decart/") == true){ selectedtab = "homeinterior"; } var formdata = {"selectedtab":selectedtab}; opencontacthomeformv1(formdata);}); /* $.ajax({ async: true, dataType: "html", contentType: "application/json", success: function(data, textStatus) { $("#dev_contact_form_v1").html(data); $('.homePageLeadFormOverLay').addClass('active'); var selectedtab = $(".homePageLeadFormOverLay .homeFormBox .propTab.fixedTab").attr("tabval"); var formdata = {"selectedtab":selectedtab}; opencontacthomeformv1(formdata); }, error:function(error){ console.log(error); }, type: "POST", url: "https://www.squareyards.com/home/homepageleadformoverlay" }); */ } function homeFormBoxCloseBtnClick(){ $('.homePageLeadFormOverLay').removeClass('active'); } function propertyTabClick(tabval){ var propertytabdata = [{"name":"Buy","tabval":"newproject","icon":"hti-icon1"},{"name":"Rent","tabval":"rental","icon":"hti-icon2"},{"name":"Home Loan","tabval":"homeloan","icon":"hti-icon4"},{"name":"Home Interior","tabval":"homeinterior","icon":"hti-icon5"}]; var selectedtabdata_arr = propertytabdata.filter(function(e){return e.tabval == tabval}); var othertabdata_arr = propertytabdata.filter(function(e){return e.tabval != tabval}); var propertytabboxhtml = ""; if(selectedtabdata_arr.length > 0){ var selectedtabdata = selectedtabdata_arr[0]; propertytabboxhtml = propertytabboxhtml + '

' + selectedtabdata["name"] + '