Bhubaneswar Property Prices Reach ₹8,550 per Sq Ft as Oriom Group Highlights Emerging City Growth

Rajesh Agarwal, Director, Oriom Group, points to rising residential demand and infrastructure investment as a CII and Knight Frank India report records 8% annual property price growth across 11 emerging cities between 2016 and 2026, compared with 4% in eight major metropolitan markets.

Bhubaneswar is gaining attention as an emerging real estate market, with residential property prices ranging between ₹6,550 and ₹8,550 per sq. ft., according to figures presented in connection with the latest CII and Knight Frank India report, India’s Next Real Estate Markets.
The report identifies 11 emerging cities, including Bhubaneswar, Bhopal, Indore, Jaipur, Lucknow and Coimbatore, as important centres of residential and commercial real estate activity.
Across these 11 cities, residential property prices recorded a compound annual growth rate of 8% between 2016 and 2026, compared with 4% across India’s eight major metropolitan markets during the same period.

The comparison indicates faster aggregate residential price growth in the emerging city group, although individual city growth rates may vary.
Bhubaneswar’s development is being supported by infrastructure investment, state policies, its micro, small and medium enterprise ecosystem and the availability of skilled professionals.
Rajesh Agarwal, Director, Oriom Group, said, “The CII-Knight Frank report validates what developers on the ground have witnessed over the last few years—the epicenter of India’s growth story is shifting decisively towards Tier-2 cities. Bhubaneswar, with its exceptional blend of modern infrastructure, rapid urbanization, and a high quality of life, has evolved into a mature and highly sought-after real estate destination. Homebuyers and investors today are looking beyond traditional metros, drawn to cities that offer sustainable growth, higher value appreciation, and robust economic drivers. At Oriom Group, we are thrilled to be part of this structural transformation through Oriom Realty, delivering world-class residential and commercial spaces that match the aspirations of a progressive Bhubaneswar.”

Local property brokers and consultants have also reported increased enquiries from homebuyers, including nonresident Odias, alongside demand from people purchasing homes for their own use.
According to local market experts, “The high-growth corridors in Bhubaneswar have seen a massive uptick in inquiries and transactions over the past few quarters. Buyers are increasingly favoring gated communities equipped with modern amenities and green open spaces, leading to faster inventory absorption and healthy capital appreciation across both mid-range and luxury segments.”
The reported preference for gated residential developments reflects interest in housing projects offering shared amenities and landscaped open spaces. Local consultants have linked this demand to activity across both midrange and luxury residential segments.

Commercial and industrial development is another focus of the CII and Knight Frank India report.
The report cites 11.2 million sq. ft. of warehousing and logistics lease transactions across key emerging cities. A group of markets including Bhubaneswar, Lucknow, Jaipur, Nagpur, Indore and Coimbatore accounted for approximately 5.3 million sq. ft., representing nearly half of the cited transaction volume.
The figures describe activity across the city group and do not specify Bhubaneswar’s individual share.
Improving transport connectivity and investment in logistics infrastructure are among the factors associated with commercial development in emerging urban markets.

The report also points to the role of public investment in infrastructure, citing an increase in infrastructure’s share of government capital expenditure from 39% in FY15 to 55% in FY26.
Public private partnership projects are expected to contribute to infrastructure development across these cities.
Looking further ahead, the report refers to a projected real estate output of $5.8 trillion by 2047, with emerging cities expected to account for part of the expansion in housing, retail and commercial activity.
For Bhubaneswar, the combination of residential demand, commercial development and infrastructure investment is bringing greater attention to its position within India’s wider real estate market.

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