BERHAMPUR : With space becoming scarce and work on to make Gopalpur Port operational by early next year, real estate prices have started zooming up.

After a lull due to lack of interest show by the Tata group for taking up work on its mega steel plant project near Gopalpur, there is steep increase in the prices. Several layouts approved by Berhampur Development Authority (BDA) are being developed towards Ambapua, Dura junction, Pothara and Kalingabihar, close to the highway and on the way to Gopalpur from Berhampur. Some realtors are also making a fast buck by selling plots in unauthorised layouts.

Slump

The per square feet (sq.ft.) price of the plots at SBI colony, Medical college area, Neelakanthanagar and Khodasingi, which used to be Rs.60 went upto Rs.150 after the announcement of Tata Steel project in 2000, have gone up manifold in the past few months. There was slump in the prices with no progress in grounding of any mega project in the region. However, with the launching of work by Gopalpur Ports Limited, a consortium formed by Orissa Stevedores Limited Noble group and Sara International, prices are skyrocketing. Now in the same area, plots are being sold at the rate of Rs.200 to Rs.300. In developed areas like Gandhinagar, Premnagar, Courtpeta and Hillpatna, sites are being sold at Rs.500 to Rs.700 per sq.ft.

BDA sold some sites and houses at Ambapua in 2001 by developing a layout. This led to a boom in real estate business in and around Khodasingi area. Plots were first sold at Neelkanthanagar about 15 years ago at the rate of Rs.30 to Rs.40 per sq.ft.

Apartment culture

"With sites in the city turning unaffordable for many, plots are being sold in BDA-approved layouts on the city outskirts in and around Ambapua and Jagannathpur at Rs.120 to Rs.400 per sft depending on their location. Apartment culture is also picking up slowly, said P.K. Raju of Spectrum Builders.

Taking advantage of the boom-time, Arjun Swain, a realtor, has developed a layout Harsha Vihar and is developing independent duplex houses on an area of 15 acres. "For the cost of an apartment, I am providing spacious two and three bed room houses with basic amenities like drainage, street lights and water supply," said Mr. Swain.

In the layout close to Aska road and Gatebazar, he said, a three-bedroom house is being sold for Rs.18 lakh with a plot area of 1800 sq.ft. and built-up area of 2100 sq.ft. Four-bedrom houses with a built-up area of 2300 are being sold at Rs.19.5 lakh. Apartments in the city are being sold at Rs.900 to Rs.1100 per sq.ft.

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