Odisha Governor Urges Real Estate Developers to Invest in Tier-II, III Cities
Odisha Governor Hari Babu Kambhampati has called on real estate developers to focus on tier-II and tier-III cities to promote balanced urban growth and sustainable development in the state.
Real EstateOdishaTierii CitiesSustainable DevelopmentUrban GrowthReal Estate NewsAug 02, 2025
Speaking at the Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers’ Associations of India (CREDAI) held in Bhubaneswar on Saturday, the Governor emphasized the need for ethical business practices and customer-first approaches to foster greater trust in the real estate sector.
“Often dubbed the growth engine of Eastern India, Odisha stands at a pivotal moment. Smart cities like Bhubaneswar and Rourkela, the rapidly expanding Bhubaneswar-Cuttack-Puri corridor, and major industrial zones offer immense investment opportunities,” he said.
Highlighting the state’s emerging urban clusters, the Governor called on developers to prioritize affordable housing, green infrastructure, and digital-ready urban planning in smaller cities, enabling equitable growth and future-ready communities.
The CREDAI EGM, returning to Odisha after a nine-year gap, brought together an influential lineup of national real estate leaders, policymakers, and stakeholders to discuss sectoral trends, sustainable development, and investment avenues.
CREDAI National President Shekhar G Patel, addressing the gathering, pointed to Bhubaneswar’s transformation over the past decade: “From a modest twin city, we now see the emergence of a vibrant tri-city cluster—Bhubaneswar, Cuttack, and Puri—which is poised to be among India’s top 50 urban centres.”
Patel also emphasized the sector’s economic importance, stating that real estate currently contributes 8.4% to India’s GDP and is the second-largest employment generator after agriculture. “With RERA streamlining operations, 95% of the industry is now organized. By 2030, real estate is projected to become a $1 trillion sector, contributing nearly 10% to India’s GDP,” he added.
Cuttack-Barabati MLA and CREDAI Bhubaneswar President Sofia Firdous noted that strategic central initiatives like the Smart City Mission are propelling Bhubaneswar into becoming the real estate capital of Eastern India.
Frequently Asked Questions
Why is the Governor urging real estate developers to focus on tier-II and tier-III cities?
The Governor is urging developers to focus on these cities to promote balanced urban growth and sustainable development, ensuring that the benefits of urbanization are spread more evenly across the state.
What are the key areas of investment highlighted by the Governor?
The Governor highlighted smart cities like Bhubaneswar and Rourkela, the rapidly expanding Bhubaneswar-Cuttack-Puri corridor, and major industrial zones as key areas of investment.
What initiatives is CREDAI National President Shekhar G Patel emphasizing?
Shekhar G Patel emphasized the transformation of Bhubaneswar into a vibrant tri-city cluster and the sector’s economic importance, noting that real estate contributes 8.4% to India’s GDP and is the second-largest employment generator after agriculture.
What is the current contribution of the real estate sector to India’s GDP?
The real estate sector currently contributes 8.4% to India’s GDP and is projected to become a $1 trillion sector by 2030, contributing nearly 10% to India’s GDP.
How are central initiatives like the Smart City Mission impacting Bhubaneswar?
Central initiatives like the Smart City Mission are propelling Bhubaneswar into becoming the real estate capital of Eastern India, fostering urban development and modernization.
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