India’s luxury real estate market has experienced notable growth, with a significant uptick in demand for high-end properties. This trend extends beyond major metropolitan areas, reaching emerging cities like Bhubaneswar, the capital of Odisha, which is becoming an increasingly attractive destination for luxury real estate investments.
India’s Evolving Luxury Real Estate Landscape
The appetite for luxury homes in India has seen a significant surge. According to a report by CBRE, sales of luxury housing units priced at ₹4 crore and above increased by approximately 53% in 2024, totaling around 19,700 units across seven major cities, up from 12,895 units in 2023.
This surge is attributed to rising disposable incomes, evolving aspirations, and the increased value placed on health, privacy, and quality of life post-pandemic. India has seen a significant jump in branded residence supply since 2015, with global hospitality and design brands entering partnerships with Indian developers. This includes names like YOO, Ritz-Carlton, Four Seasons and many more.
Buyers are no longer satisfied with traditional markers of luxury. Instead, the focus has shifted to:
- Smart home automation and energy efficiency
- Wellness infrastructure (gyms, spas, open green spaces)
- Concierge and hospitality-style living
- Branded residences, co-created with global designers or hospitality groups
Luxury Real Estate Trends in Odisha
Odisha, long recognized for its cultural and industrial identity, is witnessing a quiet but determined entry into the luxury real estate conversation. Bhubaneswar and Puri, in particular, are seeing demand for high- end housing driven by a new generation of HNIs, tech professionals, and returning expatriates.
This change is being shaped by several factors:
- Improving connectivity and infrastructure: Bhubaneswar’s inclusion in India’s Smart Cities Mission has brought in targeted investments to enhance urban mobility, sanitation, and citizen
- Growth in tech and services sector: The IT/ITeS ecosystem in Bhubaneswar continues to expand, increasing demand for modern residential options.
- Cultural identity with a modern lens: Developers are now blending architectural elements like temple-inspired motifs and sandstone finishes with global luxury standards.
Bhubaneswar’s Emergence in the Luxury Market
Bhubaneswar is rapidly transforming into a hub for luxury living, with developments that cater to the refined tastes of modern buyers. Areas like Gajapati Nagar are witnessing the rise of premium projects that offer a harmonious blend of contemporary design and traditional elements.
As the capital city, Bhubaneswar stands at the forefront of Odisha’s luxury real estate boom. The city’s strategic location, coupled with its status as a Smart City, has made it an attractive destination for luxury residential developments. Proposed infrastructure projects, such as the Bhubaneswar Metro, Ring Road, etc. are set to improve the city’s connectivity, potentially increasing its attractiveness for luxury real estate investments. Enhanced transportation networks and urban amenities are likely to bolster Bhubaneswar’s position as a desirable destination for high-end residential developments.
A significant addition to Bhubaneswar’s luxury real estate landscape is the collaboration between DN Homes and YOO Worldwide, resulting in the introduction of Odisha’s first branded residences – DN YOO ODISHA. This partnership aims to introduce globally inspired living spaces that cater to the sophisticated tastes of high-net-worth individuals.
Additionally, Radisson Hotel Group announced the development of a luxury hotel in Bhubaneswar’s Patia area, in partnership with Era Group of Hotels. This project is expected to further elevate the city’s profile as a destination for luxury living.
Conclusion
The trajectory of India’s luxury real estate market reflects a shift towards sophisticated and well- connected living spaces. Bhubaneswar’s developments highlight the city’s growing prominence in this sector, offering potential buyers a blend of modern amenities and strategic location. As the demand for luxury housing continues to rise, emerging cities like Bhubaneswar are poised to become significant players in the high-end real estate market.
