Real Estate Market Poised for a Festive Season Upturn in Bhubaneswar and Puri
The real estate market in Bhubaneswar and Puri is expected to see a significant upswing this festive season, driven by recent GST rate cuts on construction materials and stable home loans following the RBI’s repo rate reduction.
Real EstateBhubaneswarPuriGstHome LoansReal EstateOct 07, 2025
The impact varies across different housing segments, according to Sheeshram Yadav, the managing director of a leading real estate firm. He noted that affordable housing projects remain largely unaffected due to their already minimal tax rate. Mid-housing projects, however, 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. This sentiment is echoed by real estate analyst Ashish Jerath, who 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 government,” he added, while urging the state government for intervention in simplifying the transaction procedures. This could further enhance the attractiveness of the real estate market in Bhubaneswar and Puri, making it a more viable and attractive option for potential homebuyers during the festive season.
Frequently Asked Questions
What is driving the real estate market upswing in Bhubaneswar and Puri?
The upswing is driven by recent GST rate cuts on construction materials and stable home loans following the RBI’s repo rate reduction.
What segments of the real estate market are expected to benefit the most?
The luxury segment is expected to benefit the most, with a predicted 15 to 20% increase in real estate bookings.
How will the GST cuts impact mid-housing projects?
Mid-housing projects will benefit from a 3-5% reduction in construction costs and a 1-1.5% decrease in selling costs.
Why is the festive season important for the real estate market?
The festive season is a pivotal period for the real estate market as homebuyers’ sentiment traditionally peaks during this time.
What is the role of the government in this upswing?
The government can play a crucial role by intervening to simplify transaction procedures and address other issues in the real estate sector.
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