Real estate gets over Rs 58k crore investment

BHUBANESWAR: The Real Estate sector and urban infrastructure drew investment intent of a whopping Rs 58,502 crore at Make-in-Odisha (MIO) Conclave 3.0 on Saturday.The Housing and Urban Development minister Usha Devi also unveiled the new ‘Odisha Housing for All Policy for Urban Areas 2022’ during a session ‘Building next-gen real estate’ at the business summit.

Officials said the investment intents worth Rs 58,502.55 crore were received from 22 potential investors who have signed MoUs with state government for future investments. They said the Harshpriya Constructions Pvt Limited has committed investment of Rs 12,575 crore in the real estate sector of the state, while DN Homes has also proposed Rs 8,400 crore future investment.

Similarly, investment intents also include Rs 8,000 crore from Assotech, Rs 5,800 crore from Z Estate, Rs 5,710 crore from Evos, Rs 2,820 crore from Falcon Real Estate, Rs 1,750 crore from Metro Group, Rs 1,730 crore from SJ Developers, Rs 1,724 crore from Sri Jagannath Promoters and Builders Pvt Ltd and Rs 1,500 crore from Shenadi Ventures among others. Launching the new Housing for All Policy for Urban Areas, Usha Devi said the reform will obviate the challenges and establish a conducive environment for investment in real estate, especially in affordable housing.

H&UD secretary 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.