Chilika: An Upcoming Real Estate Hotspot?
Chilika Lake is the largest brackish water lake in Asia. Spread over an area of 1,100 sq km, covering Puri, Khurda, and Ganjam districts of Odisha, the lake is a major tourist attraction. Apart from having a unique ecosystem with a range of aquatic flora and fauna, it's a paradise for bird-watchers. All these things make the region of Chilika and the neighbouring districts a favourable place for real estate development.
Chilika serves as the holiday spot and a perfect place for spending extended weekends. The adjoining city, Puri, is also a major religious attraction with the districts of Khurda and Ganjam emerging as fast developing areas. Bhubaneswar, the capital of Odisha which falls under the Khurda district, will soon be developed into a smart city. Owing to Chilika's proximity to Puri, Bhubaneswar is just 120 km away.
This proximity and smooth connectivity attract many real estate developers to construct holiday homes and also develop affordable residential complexes in and around Chilika. These days people prefer to own a house close to nature so that they can enjoy the natural sights and sounds.
Having Chilika in close proximity and given its expanse touching three districts gives ample scope for the development of real estate. Khurda is an emerging district of Odisha with many information technology offices dotting the area. The major work forces in these companies are either bachelors or newlyweds. Also those who have retired and want to own a house after retirement would look for place that is perfect to own a home.
The price of the real estate is considerably low as compared to the developed city like Bhubaneswar. It also gives the scope for development of commercial spaces apart from the residential properties. With Chilika as a popular tourist attraction will encourage the development of hotels and holiday homes in the area. The development of the real estate would also be a very profitable investment option.