Real Estate Receives Over Rs 58k Crore Investment At Make In Odisha Conclave

Bhubaneswar: The Make In Odisha Conclave 2022 has attracted investment intents of a whopping Rs 58,502 crore in the real estate sector and urban infrastructure.

Housing and Urban Development Minister Usha Devi also unveiled the new ‘Odisha Housing for All Policy for Urban Areas 2022’ during a session on ‘Building next-gen real estate’ at the state’s flagship biennial investment summit on Saturday.

According to official sources, the investment intents worth Rs 58,502.55 crore were received from 22 potential investors and real estate partners who have signed MoUs with state government for future investments.

They said the Harshpriya Constructions Pvt Ltd has committed investment of Rs 12,575 crore in the real estate sector of the state, while DN Homes has proposed Rs 8,400 crore investment.

The session also witnessed the launch of a white paper titled ‘Emerging hotspots of Odisha towards Inclusive Growth’ highlighting the pro-industry features envisaged in various policies and reformative initiatives of the Government to enable investment in the real estate sector in urban Odisha and to foster inclusive growth.

Speaking about the abundant opportunities in the state, the Minister said, “Today we are witnessing radical changes in this sector, thanks to the progressive and proactive policy reforms introduced by H & UD department such as Uniform Building and Planning Standards Rules, Housing for All Policy, CAF Rule, etc. As part of “ease of doing business” and 5T interventions of the State Government, e-governance services such as “SUJOG” and “House Allotment System”, etc. have been implemented successfully to ensure enhanced citizen satisfaction.”

H&UD Principal Secretary G Mathivathanan highlighted the efforts of the state government to introduce favourable policy frameworks for promotion of affordable housing in the state. “The ‘Developers’ Area’ for commercial development under the PPP mode of affordable housing has been increased from 35 pc to 60 pc which is the highest in the country,” he said.

“With dynamism in policy and practice, we always amended our policies from time to time for encouraging real estate partners. We are giving 7% FAR which is the highest in the country. We intend to be partners in progress with all of the developers for real estate and urban infrastructure across the state’ he added further.

“We want our cities to be destinations of the future. With improved civic services and transparency in service delivery, Odisha is scripting new milestones in Urban Governance. When we call Mo Sarkar, it means Your Sarkar,” he added

In his welcome address, Vice Chairman of Bhubaneswar Development Authority (BDA), Balwant Singh said, “as a city, we are smart-modern and yet culturally rich. We are inclusive in our plan n policies. We give priority to children, women, PWD, beggars, homeless, other marginalised communities in our efforts and initiatives.”