BHUBANESWAR: Real estate developers have contributed a lot for the fast development of the Capital City by providing facilities of metro life under one roof, said Vice-Chairman of Bhubaneswar Development Authority (BDA) Dr Krishan Kumar.
Inaugurating the 10-day 'Home and Decor Exhibition and India International Mega Trade Fair' organised by Real Estate Developers' Association (REDA) at Janata Maidan on Friday, Kumar said nowadays, majority of the approvals are sought for apartments and multi-storey buildings in Bhubaneswar.
''It indicates that people here prefer flats than individual houses for which credit goes to the real estate sector for developing such facilities. As per an estimation, 18 per cent houses are required by 2035 which are yet to be built. It is the real estate developers who would build the houses,'' he said.
The exhibition, which has nine air conditioned hangers, comprising 550 stalls accommodating all real estate activity related participants including from eight foreign countries - Thailand, Turkey, Egypt, Bangladesh, Afghanistan, Pakistan, Nepal and Myanmar, will continue till January 30.
REDA president Kantilal Patel said the event provided a true sense of exposure and modern facilities offered by the developers besides the feasibility of availing a home loan, broad observation of the latest in home decorative items, furniture and electrical appliances under one roof.
Among others, REDA secretary JP Singh, chairman of GS Marketing Associates Prakash Shah, CEO Suparna D Gupta, managing director of Z Estates Tapan Kumar Mohanty and director of Thai Trade Centre, Department of International Trade Promotion of Thailand Government MS Jittima also spoke.