Real-estate construction boom in Greater Berhampur city

Berhampur city is witnessing a massive real estate boom like never before. While mega residential projects are being announced almost on a regular basis, even real-estate investors from various others cities like Bhubaneswar, Vizag, Surat and Mumbai are flocking in large numbers to make the most of this huge demand for residential apartments in Berhampur city. 

Estimates say that more than hundred mega residential apartments are under construction in and around the city.
One real estate watcher observed that investment of this magnitude is unprecedented in this southern city, and for that matter in a state like Orissa, and can only be compared with the State capital, which witnessed a similar trend in the recent past.

The massive real estate boom in Berhampur can be attributed to the huge migration of people from the interior pockets of Ganjam, South Orissa, Coastal Orissa and neighboring districts of Andhra Pradesh in search of better livelihood opportunities and for its education, trade and transport base.

Infact, one real estate agency of Berhampur city pointed that the skyrocketing housing prices in the state capital which has become almost unaffordable for the middle class has led to this housing boom in Berhampur as the going property prices here are considerably lesser than Bhubaneswar. The city is also well connected with other parts of the country and much cheaper cost of living than the state capital. 

The construction boom in the city is likely to change the landscape of Greater Berhampur Region in the years to come with many projects lined up in the city outskirts and especially in areas like Ambapua, Khodasingi, Gosaninuagaon, Narendrapur, Mandiapalli, Rangeilunda, Haldiapadar, Konisi, Gopalpur and Chatrapur.

Non-resident Oriyas have become the biggest investors and drivers of this real estate boom, said a veteran of the city who has seen it growing over the past decades.

       

• http://www.adishakticonstruction.org/upproject.aspx
• http://www.greeninfra.co.in/home.php
• http://www.homeatspectrum.in/compproject.aspx
• http://www.jayshakti.com/index.html
• http://srikrishnabuilders.page.tl/
• http://atgroup.in/news.asp
• http://suncityipl.com/real_estate.aspx
• http://www.nandighoshestates.com/
• http://www.satyamsivamgroup.com/
• http://shivamdevelopers.net/
• http://www.uniquepariwar.net/
• http://www.vlb.svect.com/index.aspx

Construction boom in Greater Berhampur region

BERHAMPUR: The greater Berhampur region is witnessing a construction boom these days, mainly in the housing segment due to changing perceptions and purchasing power among the people and also due to huge influx of people from adjoining southern districts of Orissa and KBK region to the city. In the last couple of years there is considerable change in the business climate of the city. The on-going projects like Gopalpur Port and SEZ, Titanium Dioxide plant and SEZ, Software Technology Park of India (STPI) have all played a role in the construction boom. The declaration of Berhampur as the third Municipal Corporation of Orissa by changing its boundary limits and arrival of several engineering and medical colleges have also triggered real estate activities on the city outskirts. Several reputed retail chains like Vishal Mega Mart, Bazar Kolkata, The World, Reliance Retail, Cottons by Century, Big Bazaar, Syndicate etc. have either started their retail business in the city or plan to open their operations in the next one year. BDA has also signed an MOU with the Forum Mart of Kolkata for a huge shopping mall ‘Gajapati Plaza’ with an investment of Rs 97 crore. The apartment culture is also catching up fast in the silk city with more than a dozen projects in the pipe-line. On the flip side, some property agents have started minting money by selling land and plots violating BDA rules and regulations.

After a lull due to lack of interest show by the Tata group for taking up work on its mega steel plant project near Gopalpur, there is steep increase in the prices. In fact, the prices have already started increasing since 2007 and apartments in Berhampur are being sold at Rs.1500-2000 per sq.ft. Several layouts approved by Berhampur Development Authority (BDA) are being developed towards Ambapua, Dura Junction, Pathara and Kalinga Bihar, close to the national highway and Gopalpur/Berhampur. Some property agents are also making a fast buck by selling plots in unauthorized layouts. BDA sold some sites and houses at Ambapua in 2001 by developing a layout. This led to a boom in real estate business in and around Ambapua and Khodasingi area. In the mean time the BDA has completed Vivek Vihar- I and has ambitious plans for its second phase Vivek Vihar-II. With land in the city unaffordable for many, plots are being sold in BDA approved layouts on the city outskirts in and around Ambapua and Jagannathpur at Rs. 200 to Rs. 400 per sft depending on their location. Taking advantage of the boom-time many realtors are developing independent duplex houses with basic amenities like drainage, street lights and water supply in these regions. The skyrocketing real-estate prices in Berhampur has made the city an alternate real-estate investment destination of the State, besides the state capital.
Source: realestatetimes

Regional Business center of LICHFL opened in City

Berhampur: LIC Housing Finance Limited (LICHFL), a subsidiary of the public sector, Life Insurance Corporation of India (LIC) is targetting to provide Rs 560 crore home loan in the eastern region, consisting of east and north east states, during the current financial year.The target is Rs 160 crore more than the loan disbursement of Rs 400 crore achieved in 2008-09. The total loan portfolio of the company in the region reached Rs 1583 crore by the end of March, 2009 across 37,820 accounts, said AK Mahato, the regional manager of the LICHFL. In order to achieve the target, the company has opened two more Business Centers in the region. They are located at Berhampur and Cuttack in Orissa. The new office in Berhampur would cater to the needs of the customers of southern Orissa districts including Ganjam, Gajapati, Rayagada, Koraput, Kalahnadi and Kandhamal.

Claiming the LICHFL is the second largest housing loan finance company in the country, the Mahato said, it has 126 marketing units across the country with 934 direct selling agents (DSA), 4865 home loan agents (HLAs) and 485 customer relationship associates (CRAs). The company is providing loans for homes, construction activities and corporate housing schemes. It also gives loans against rental income, property and to builders and corporates at nominal interest rate.

Source: Business Standard