INDIA  :   Real Estate

Realty options in the temple town of Puri

Saturday , 20 February 2016

Though tourism is the mainstay of the economy, real estate is also thriving here

Puri, famous for the shrine of Lord Jagannath, is considered as one of the holiest places in the country. It is a major seaside tourist attraction in eastern India. The annual Rath Yatra attracts a huge number of people to this town. Its economy is largely dependent on its tourism industry. A huge number of tourists visit the temple. It is also a hub for weekend home-buyers. Here is a better look…

Accessibility

The famous Jagannath Sadak

was built by the Marathas around 1790. It was the British East India Company that laid the first railway track in 1898. Today, Puri is well-connected by rail, road and air services. It is serviced by the South Eastern Railways that connect Puri and Kolkata. By rail, Puri is around 500 km from Kolkata and 468 km away, from Vishakhapatnam. It is linked to Bhubaneswar by NH 203, and it is approximately 60 km away. It is also connected to Konark, another tourist hotspot of Odisha. The nearest airport is the Biju Patnaik International Airport, at Bhubaneswar. Puri railway station is one of the busiest railway stations, in India.

Infrastructure

Every year, the tiny resort town, copes with the pressure of thousands of pilgrims who come to participate in the Rath Yatra. There are schools, hospitals, hotels and banks all over the place. Some of the prominent institutes are Gangadhar Mohapatra Law College, Ghanashyama Hemlata Institute of Technology and Management and Indian Industrial Training Institute. E-24 Private Hospital, Sanjibani Hospital and Gopinath Hospital are some of the medical institutions located here.

Real estate

Puri is a small town, and most of the land has been taken up for development, by the hospitality and tourism related businesses. However, people do look for homes here, especially holiday homes. It is a popular hub for people living in Odisha and West Bengal. As it caters to a middle class market, most of the projects here offer 1-2BHKs with basic amenities like children’s play area and garden. There is a lot of development on the Puri-Bhubaneswar and Puri-Cuttack Road. The price of such projects starts from Rs 13 lakh onwards, for a 1BHK. The average square foot rate here is, from Rs 2,000 to 2,500 per sq ft.

There are more expensive homes priced at Rs 5,000 per sq ft onwards, as well. One can also purchase 1BHK villas, as small holiday homes. Some of the best holiday homes are in Sipasarubali area. It is slightly more expensive, with 1BHKs starting at Rs 16 lakh. Many developers are also constructing studio apartments in Puri. Those looking for 1RK and 1BHK can check out Kashi Jagannathpur area. Esskay Sweet Homes have a huge project here. Most of these are in the under-construction phase. One can also look for homes in the locality of Badasankha, where PSG Projects have a building coming up. Located on the side of Konark Road, it is a developing locality.

 

 

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