Odisha Governor Hari Babu Kambhampati has called on real estate developers to invest in the state’s Tier II and III cities
Speaking at an Extraordinary General Meeting (EGM) of the Confederation of Real Estate Developers’ Associations of India (Credai), on Friday, the Governor emphasized that this would promote balanced urbanization and sustainable development.
The Governor also emphasized the importance of ethical business practices and customer-centric models in building trust within the real estate sector.
“Odisha stands at a critical inflection point – emerging as the growth engine of Eastern India. Smart cities like Bhubaneswar and Rourkela, the Bhubaneswar-Cuttack-Puri Corridor, and major industrial corridors are unlocking immense potential,” he said.
“The real estate developers should focus on tier-2 and 3 cities for balanced urbanisation and invest in affordable housing, green development, and digital infrastructure,” he further stated.
Inaugurated CREDAI’s Extraordinary General Body Meeting 2025 in Bhubaneswar—an inspiring convergence of stakeholders driving India’s urban transformation.
CREDAI’s efforts are instrumental in translating national priorities—affordable housing, resilient cities, and green… pic.twitter.com/vv3TvbjfBo
— Dr. Hari Babu Kambhampati (@DrHariBabuK) August 1, 2025
The EGM of the association was held in Odisha after a gap of nine years.
The event brought together a distinguished panel of national leaders, developers, policymakers, and stakeholders to deliberate on the future of real estate, investment prospects, and sustainable urban development.
Shekhar G Patel, President of Credai, underscored the significant role of the real estate sector in India’s economy and the evolution of Bhubaneswar over the last decade.
“From a twin city, we now see a vision for a dynamic tri-city cluster comprising Bhubaneswar, Cuttack, and Puri. This region is poised to be one of India’s top 50 urban centres,” Patel said.
The sector currently accounts for 8.4 per cent of the country’s GDP and is the second-largest employer after agriculture. With the implementation of RERA (Real Estate Regulatory Authority), 95 per cent of the industry is now organized. Patel projected that the sector will grow to a $1 trillion industry by 2030, contributing 10 per cent to the GDP, he explained.
Sofia Firdous, Credai Bhubaneswar President and MLA, added that with central initiatives like the Smart City Mission, Bhubaneswar is quickly becoming the “real estate capital of Eastern India.”
