Bhubaneswar: Once known for its balanced real-estate landscape, Bhubaneswar is now grappling with an unprecedented surge in property and rental prices, placing enormous strain on middle-class families. Compared to neighbouring state capitals such as Kolkata, Ranchi, Raipur, Hyderabad, and Amaravati, Bhubaneswar has emerged as one of the costliest cities in terms of land and housing.
According to real-estate observers, the steep escalation is driven largely by speculative buying. Investors with deep pockets are purchasing multiple properties as investment assets, contributing to an artificial spike in demand. This has emboldened builders and developers to increase prices at a pace many residents describe as “unimaginable” and “unreasonable.”
The average middle-class home seeker is the worst affected. With stagnant income growth and limited financing options, securing even a small plot within the city has become increasingly difficult. “Owning a house in Bhubaneswar has turned into a far-fetched dream,” say residents who have been searching for affordable options for years.
Rental rates have climbed in parallel, adding further financial pressure on students, salaried employees, and migrant workers. Areas on the outskirts—once considered the affordable buffer zone—now mirror the high prices of central neighbourhoods.
In prime locations, property rates have soared into several crores, effectively shutting out common citizens from the city’s core. Critics argue that the absence of strict regulation, coupled with unchecked builder margins, has allowed the market to tilt heavily in favour of investors rather than genuine homeowners.
Urban planners caution that unless the government steps in with stronger housing policies, improved oversight, and restrictions on speculative buying, Bhubaneswar risks evolving into a city only the wealthy can afford—leaving its middle-class backbone increasingly marginalized.
-OdishaAge
