Real estate sector in India has seen many positive changes in the last few years, thanks to the favourable policies 
adopted and reforms undertaken by the Indian Government. It has observed tremendous growth in all areas and has widely categorized its services into Residential, Commercial and Retail to offer a distinctive approach.
In country like India where property is considered an asset, Real Estate companies have taken the liberty to change the definition and add the element of lifestyle to it as can be seen from the splurge of luxurious apartments, beautiful commercial complexes and extraordinary retail ventures that have attracted the attention of potential buyers, not only from India but abroad as well.
Going by the recent observations, number of people relocating to India or showing interest to own a property here is on the rise ever since the real estate sector underwent a boom and come up with services that match international standards both in quality and structure.
A major contributing factor towards this is the relaxation in Foreign Direct Investment (FDI) policy initiated by the government along with investor policies that have been revised and made friendlier to allow NRIs to invest in properties in India, both in residential and commercial space.
Odisha Real Estate Scenario
RESOURCE RICH ODISHA
Odisha is well known for its rich mineral content hence there are a number of refineries that located here. Sectors 
such as infrastructure, aluminium, steel and power are also being established here for more economic growth. Even the IT sector in the state is doing well and is going to be one of the main sources of income in next few years.
These entire reasons combine together to make Odisha properties high in demand, the real estate market is on a high tide in the area and most of the developers as well as buyers are on a look out for ideal property deals. The real estate sector has been moving upward for the last few years. The cost of property has grown more than 100% in last five consecutive years and is maintaining the pace even today. Realty experts predict that this is a good deal to invest now rather than later because in the coming years the rates will appreciate more.
Apart from other cities of Odisha, Bhubaneswar, the capital city of Odisha also known as the “TEMPLE CITY” along with Puri, the world famous “LORD JAGARNNATH DHAM” & “THE GOLDEN BEACH”, are facing a major hike in real estate sector. The prices of real estate in Bhubaneswar & Puri are skyrocketing at maddening pace. Bhubaneswar & Puri have seen a hike of as much as 300% & 200% respectively for the fifth consecutive year depending on the locality. This is not only bewildering but also stunning too. With psf price touching INR 4,000 & INR 3,500 in Bhubaneswar & Puri respectively, the rates are almost equal to that of property prices in the expanding Noida sector in Delhi & extension of Mumbai.
The rising prices in Bhubaneswar & Puri are mostly attributed to the fact that, these cities have access to all the cosmopolitan facilities like educational institutes, hospitals, entertainment centres and shopping malls etc…
PRESENCE OF MAJOR INDUSTRIES
Industries of renowned groups such as Birla, Tata, Mittal, Jindal, POSCO etc… have started their plants in the area hence the gradual industrialization has also led to a boost in the property rates. Most of the urban regions in the state have been facing higher demand for the residential properties as lots of people are looking up for job opportunities in Orissa. The rates of property as well as demand in cities like Bhubaneswar, Puri and Behrampur are very high. The psf rates in Bhubaneswar are within the vast range of INR 500 to INR 4000, a house with 3 rooms can be bought at a price of INR 10 lakh to INR 80 lakh, in Puri a house with 3 rooms can be purchased at INR 30 lakhs to 50 lakh, there is a lot of residential land available for sale here and the rate falls within the brackets of INR 17 lakh to 4 crore, depending upon the location of the land. In case one wants to opt for renting a house then the range starts from INR 8000 to INR 25000 to 35000 for a 2, 3 and 4 BHK house in Bhubaneshwar.
REAL ESTATE TRENDS
The state also experiences a boom in the commercial sector; there has been recent entry of malls, multiplexes, hangout areas like Café Coffee Day, Dominos, SubWay etc… in the area which is one of the factors leading to the increase in property rates. Most of the investors as well as developers are earning huge profits from investing in the commercial sector. The industrialization has paved the way to an outstanding demand for the properties in Orissa. A shop can be purchased at INR 5 crores to a whooping INR 12 crores, the rates depending on the location of the shop, in case there is a basement and a parking space the rates can double up. One can even lease a shop within the price range of INR 5 lakh to 25 lakh, again depending on its location and facilities.
According to real estate experts, “The rates are soaring high because the city is experiencing recent urbanization and industrialization. The infrastructure has been developing at a fast pace giving way to many new structures in the state; hence demand and supply both are high here”.