Real Estate Market Anticipates Boost During Festive Season in Bhubaneswar
The real estate market in Bhubaneswar and Puri is set for a significant upswing this festive season, driven by recent GST rate cuts and stable home loans. Industry experts predict a 15-20% increase in bookings, particularly in the luxury segment.
Real EstateGst CutsHome LoansLuxury SegmentBhubaneswarReal Estate NewsOct 07, 2025
“The impact varies across different housing segments,” Sheeshram Yadav, the managing director of a leading real estate firm, said, noting that affordable housing projects remain largely unaffected due to their already minimal tax rate. Mid-housing projects will benefit from a 3-5% reduction in construction costs and a 1-1.5% decrease in selling costs.
Aman Sarin, director of another real estate firm, highlighted the festive season as a pivotal period for the real estate market, with homebuyers’ sentiment traditionally peaking. “We anticipate a surge in buyer activity, especially with recent launches coinciding with festivals,” Sarin said.
Real estate analyst Ashish Jerath emphasised that this festive season could mark a turning point for the sector, with a heightened propensity for luxury lifestyle purchases. “New launches in the branded luxury segment are expected to receive a positive response, bolstered by the economic uplift from tax benefits,” Jerath said.
Bimalendu Pradhan, a city-based real estate expert, welcomed the GST cut on construction materials, urging developers to pass on the benefits to buyers to ensure genuine growth in the sector. “If developers transfer these savings to consumers, the real estate segment could experience substantial growth. Odisha’s real estate sector is currently grappling with other issues which need to be looked after by the govt,” he added, while urging the state government for intervention in simplifying the transaction procedures.
Frequently Asked Questions
What are the key factors driving the real estate market in Bhubaneswar during the festive season?
The key factors include recent GST rate cuts on construction materials and stable home loans following the RBI’s repo rate reduction.
How much increase in real estate bookings is predicted this festive season?
Industry experts predict a 15 to 20% increase in real estate bookings, particularly in the luxury segment.
How are affordable housing projects affected by the GST reforms?
Affordable housing projects remain largely unaffected due to their already minimal tax rate.
What benefits do mid-housing projects gain from the GST reforms?
Mid-housing projects will benefit from a 3-5% reduction in construction costs and a 1-1.5% decrease in selling costs.
What is the role of the state government in the real estate sector's growth in Bhubaneswar?
The state government is urged to intervene in simplifying the transaction procedures to ensure genuine growth in the sector.
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