Odisha Governor Urges Real Estate Developers to Invest in Tier-II, III Cities for Balanced Growth
Bhubaneswar: Odisha Governor Hari Babu Kambhampati has urged real estate developers to expand their investments into tier-II and tier-III cities to promote balanced urbanisation and sustainable development across the state.
Real EstateOdishaTierii CitiesUrban GrowthSustainable DevelopmentReal EstateAug 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
What is the main focus of the Governor's appeal to real estate developers?
The Governor urged real estate developers to expand their investments into tier-II and tier-III cities to promote balanced urbanisation and sustainable development.
What event did the Governor speak at, and where was it held?
The Governor spoke at the Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers’ Associations of India (CREDAI) held in Bhubaneswar.
What are some of the key investment opportunities in Odisha mentioned by the Governor?
The Governor mentioned smart cities like Bhubaneswar and Rourkela, the rapidly expanding Bhubaneswar-Cuttack-Puri corridor, and major industrial zones as key investment opportunities.
What is the projected contribution of the real estate sector to India’s GDP by 2030?
By 2030, the real estate sector is projected to become a $1 trillion sector, contributing nearly 10% to India’s GDP.
What central initiative is propelling Bhubaneswar into becoming the real estate capital of Eastern India?
The Smart City Mission is a central initiative that is propelling Bhubaneswar into becoming the real estate capital of Eastern India.
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