Construction boom in Silk City Berhampur

ERHAMPUR: The greater Berhampur region is witnessing a construction boom these days like never before, mainly in the housing segment due to changing perceptions and purchasing power among the people and also due to huge influx of people from adjoining southern districts of Orissa and KBK region to the city. Interestingly people of the region staying outside the state are not only buying luxurious houses in the city, they are also investing in the real estate sector in a big way which is considered a safe investment option with high return. On account of these the demand for housing in the city has skyrocketed. The real estate investors are no longer confined to Berhampur city but from places like Bhubaneswar, Visakhapatnam and Surat etc. Recently the Surat based Astha International Group has launched a township project in Berhampur with a proposed investment of Rs 500 crore along with a 3-Star hotel and shopping mall. Another Surat based group Green Infra has also launched mega housing and resort projects in Berhampur and Gopalpur. Not to be left behind the Berhampur Development Authority (BDA) has also unveiled mega projects on the Berhampur-Gopalpur stretch at an investment of over Rs 50 crore. The City Corporation has also earmarked land for mega shopping malls like Forum Mart by Saraf Group and Reliance Mart. The on-going projects like Gopalpur Port, Tata Industrial Park, Sonepur Energy and Oil City, Titanium SEZ, Software Technology Park of India (STPI) proposed Berhampur airport have all played a role in the construction boom. The declaration of Berhampur as the third Municipal Corporation of Odisha in 2008 by changing its boundary limits and arrival of several engineering and medical colleges to the city have also triggered real estate activities on the city outskirts. The skyrocketing real-estate prices in Berhampur has made the city an alternate real-estate investment destination of the State, besides the state capital.