Happy times for house hunters Bhubaneswar
Jul 03, 2012
Source : The Times Of India
A Glance Of Bhubaneswar City


BHUBANESWAR: Looking for a house on rent has never been easier in the city. Contrary to the situation around a year ago when house hunting was an arduous task, tenants have multiple options to choose from now. A look around IRC Village, Nayapalli, Patia, Neeladri Vihar, GGP Colony, areas south of Khandagiri and Sundarpada reveals many houses with 'to let' signs. The proliferation of available houses puts tenants in a far better position to bargain cost and amenities.
One comes across at least a dozen 'to let' signs in a single row on N5 block of IRC Village, supposed to be a sought after area because of its prime location close to the highway. Similarly, in various apartments of Patia, scores of dwelling units are lying unoccupied.
"A decent two room accommodation in good Patia apartments is available for less than Rs 7,000 per month. One couldn't imagine striking this kind of a bargain last year or the year before," said a private company employee, who recently shifted to Patia from Acharya Vihar.
The best part is that landlords are not asking for two to three months' security deposit from prospective tenants anymore. Unlike in the past years, one just needs to pay a month's rent in advance. "One doesn't need a property dealer to hunt a house anymore. In case you take a dealer's help, he won't charge you. He would take his commission from the house owner," said Venkat Raman, who stays in IRC Village.
"When I bought a two bedroom house in Sundarpada, I told brokers to ask for two months' advance rent as was the market trend. However, my house remained vacant for around a year. I then lowered the rent and forgot the advance to rent my house at the earliest," said M K Pradhan, who works in a software company in Pune and has bought a house here.
"We are not asking for commission from most tenants as they have plenty of options. House owners give us rent of 15 days to one month as commission," said a broker in GGP colony, preferring not to be named.
Real estate developers feel there are multiple reasons behind the rental market becoming tenant friendly. "House owners had suddenly increased rent manifold and were getting whatever they asked for because there was gross shortage of houses. However, due to the construction activities over the years, the city has added more than 2,500 housing units per year in the past two years. This has made a difference," said D S Tripathy, president of Real Estate Developers Association of India (Credai), state branch.
Tripathy said the soaring rental market mainly exploited the large floating population of engineering students as several colleges did not have hostels. Over the years, these institutions have added to their hostel capacities, reducing the pressure on the rental market further, he pointed out.
Some developers, however, said though mushrooming of segregated development on the periphery of the city have made houses available on rent at a lower cost, rent in prime localities continues to soar. "Prime localities such as Saheed Nagar, Satya Nagar and Kharavela Nagar continue to see rents moving upward though the average rent in the city has gone down because of the new dwelling units this year," said Pradipta Kumar Bisawsray, president of real estate developers association (Reda).

Latest Realty News

Civic body's tall claims drown in two hours of rainCivic body's tall claims drown in two hours of ra...
Jul 03, 2012
BHUBANESWAR: Two hours of heavy downpour on Monday morning threw life out of gear in the city. Several residential areas and roads were waterlogged as a drizzle continued almost through out the day. The rains are yet to arrive in their full fury, but the city has already started to suffer, complained residents. Despite all the tall claims of preparedness by the Bhubaneswar Municipal Corporatio
Private waste move for two more wards
Jun 28, 2012
Bhubaneswar, June 27: The council of the Bhubaneswar Municipal Corporation (BMC) today passed a resolution to privatise solid waste management in two more wards. With this, waste management in 53 out of the city’s 60 wards will be managed by private contractors. On the other hand, the council of the civic body also passed a resolution to divide these 53 wards into four pockets so that a nation
Private firm to manage Bhubaneswar Municipal Corporation dispensaries
Jun 27, 2012
BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) has decided to join hands with a private company to manage two of its dispensaries in the city. The two allopathic dispensaries to be run in public private partnership (PPP) mode are located in Kapil Prasad and Gadakan areas. BMC mayor A N Jena said the move was aimed at providing better health facility to citizens. "At the council meeti
Odisha to declare 13 more spots as eco-sensitive zones
Jun 26, 2012
The Odisha government is planning to declare 13 more spots as eco-sensitive zones across the state. “We have already declared three spots as eco-sensitive zones. The state government will soon come out with a notification to declare 13 more spots as eco-sensitive zones, probably within a day or two,” said minister of forest and environment on the sidelines of a seminar on livelihood issues of
Sambalpur municipality gets new chairperson
Jun 26, 2012
SAMBALPUR: Kalpana Sahu of the rebel BJP group was elected unopposed as chairperson of Sambalpur municipality on Tuesday. She was the only candidate to have filed the nomination papers for the post and had the support of the Congress. Sahu was instrumental in the ouster of former chairperson Reena Trivedi of the BJP in February 2012. Though Congress did not comment on it, a senior worker of th
Flood fear haunts Mahanadi Vihar
Jun 25, 2012
Cuttack, June 24: Flood fear haunts residents of Mahanadi Vihar owing to a delay in the construction of a temporary drainage channel to flush out excess rainwater from the area. The Cuttack Municipal Corporation (CMC) spends around Rs 3 lakh every year to set up a temporary water channel to transfer accumulated waste and rain water to the main storm water channel No. 2. A temporary channel,
Park plan for dump yards
Jun 25, 2012
Bhubaneswar, June 24: Fifteen years after proposing to convert three open spaces at Nayapalli Brit Colony into mini-parks, the development authorities have finally decided to act. The open spaces, where mini-parks are supposed to come up with facilities such as a lawn, a walking track and sitting arrangements, have been turned into dumping grounds by local residents. “There were four open s
Ecological parameters of Chilika to be rated
Jun 25, 2012
Very soon ecological parameters of the Chilika lagoon would be rated on a scale of 0 to 1. The 1,100-sq-km brackish water lake is set to become the first one in Asia which will develop a report card system to assess health of the ecosystem through a full-fledged monitoring mechanism. Under the project, for which Chilika Development Authority (CDA) has received support from the UNEP, the entire
Action plan for heritage judicial buildings
Jun 25, 2012
BHUBANESWAR: The Odisha Government, which has identified 26 judicial premises as heritage buildings, has drawn up an elaborate action plan to maintain the sites. A State-level monitoring committee had decided that buildings, which were constructed prior to 1950, be designated as heritage structures. After an elaborate consultation with the Archaeological Survey of India, 26 premises were liste
Flood fear grips Bhubaneswar
Jun 24, 2012
BHUBANESWAR: People of Bhubaneswar must have never imagined that the city situated at a height will ever get flooded. But the city no longer has this security shield. Even with little rain, low-lying areas get flooded with neck-deep water. With the onset of monsoon, people in these areas are spending sleepless nights as they fear water might enter their homes once the skies open up. The situat

Latest Realty News Of State

Realty Talk's