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There is a common perception that life could be better only in metro cities, but India’s tier-II cities are developing fast and offering opportunities for growth. One such example is Bhubaneswar, which is slowly becoming a hub for research and technology startups in the eastern region. 
 

	Let’s read about a person who moved from Kolkata to Bhubaneswar, looking for more opportunities to grow. Young geneticist <keyword id="2872592" type="UNKNOWN" weightage="80" keywordseo="Birendranath-Banerjee">Birendranath Banerjee</keyword> studies the effect of lifestyle stresses on one's genes at <keyword id="543180" type="ORGANIZATION" weightage="80" keywordseo="KIIT-University">KIIT University</keyword> in Bhubaneswar. He was not happy teaching in his hometown Kolkata when KIIT offered him a job with a promise of complete intellectual freedom. KIIT was then in the initial stages of setting up a business incubator, and Banerjee in the early stages of setting up a company. It was a perfect match. The company, <keyword id="2872593" type="UNKNOWN" weightage="80" keywordseo="InDNA">InDNA</keyword>, was set up in 2012. In just three years, it is expanding to Kolkata, Hyderabad, <keyword id="6354321" type="CITY" weightage="80" keywordseo="Bengaluru">Bengaluru</keyword> and other cities. Banerjee got Rs 1 crore from the department of biotechnology, and Rs 2 crore subsequently from rich doctors in the region. 
	 

	He is talking to large companies to provide testing services for their employees, and to figure out how much stress has influenced the functioning of their genes. "We are looking at the effect of lifestyle on the entire genome," says Banerjee.
 

	InDNA is the most high-tech among the KIIT incubator companies. In the past four years, KIIT has invested Rs 15 crore in its building and Rs 10 crore in equipment, for which the DBT provided Rs 9 crore. It has incubated 34 companies, nine of which have moved out to their own offices and are in business. Bhubaneswar has other startups too, as the large IT companies have come to the city. With several institutes of higher education, including an <keyword id="6354859" type="COMPANY" weightage="80" keywordseo="IIT">IIT</keyword>, the city is slowly setting the foundation for becoming a hub for research and technology startups in the eastern region. Says Mrutyanjay Suar, director of biotechnology at KIIT: "Bhubaneswar is at the same stage where Bengaluru was in the early 1990s." 
	 

	With its sketchy business history and laidback culture, Bhubaneswar at first seems an unlikely birthplace for 21st century startups. None of its educational institutions has set the country on fire through its research. The city is well laid out but retains its rural charm, being on the edge of a large forest and an elephant trail. 
	 

	And yet there are signs of the city developing as a major eastern hub, as people of eastern origin started preferring the city to Kolkata. Consider IIT Bhubaneswar, one of the youngest among the country's elite institutions. It will eventually have a 1,000-acre campus, but it currently operates from a partially-abandoned government building, an environment that does not bother some of its young and distinguished faculty. 
	 

	Let’s talk about another person who fulfilled his dream in the city. 
	 

	Saroj Nayak returned from Rensselaer Polytechnic in the US a year ago to be a professor at IIT, despite several attempts by this famous institution to keep him back. Power cuts greeted him when he sat in his makeshift office, a situation he had never faced in his life. 
	 

	His answer was to make solar back-up system, which he now sells through his startup Karma. This unit, replete with a solar panel, a battery, a fan, phone charger and a light, sells for around Rs 4,500. Nayak also had a fair bit of intelligence built into the system for energy management. "We are trying to reduce the environmental impact of energy generation with minimal investment,” he says. The city is now sprouting luxurious new buildings, some of them built by large IT companies. <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> was the first, as it built its first campus outside Bengaluru. TCS has one of its swankiest offices in the city. MindTree has built a learning centre in Bhubaneswar right next to TCS, and sends all its new recruits for intensive training there. Chip design firm <keyword id="25700" type="ORGANIZATION" weightage="80" keywordseo="Sankalp">Sankalp</keyword> too has a development centre here. Bhubaneswar has some native IT startups too. Software services firm <keyword id="2873029" type="UNKNOWN" weightage="80" keywordseo="ESSPL">ESSPL</keyword>, started in the city in 1998, has offices around the world. AABSys, a geospatial and design software services company founded in 1996, is now a medium-sized company. But the current generation of startups, particularly from KIIT, are venturing beyond IT and solving problems of people in the region. 
	 
	 
	(Image: Indiatimes)

Know how Bhubaneswar is getting smart

<ul><li>Three premier Indian institutions raised concerns over lack of government funding. </li><li>Indian Institutes of Technology (IIT) Mumbai and Delhi campuses and the Indian Institute of Science (<keyword id="41780" type="ORGANIZATION" weightage="20" keywordseo="IISC">IISc</keyword>) Bengaluru are amongst those who are unhappy with the IoE plans. </li><li>The Human Resource and Development Ministry (MHRD) recently awarded <keyword id="4396140" type="PERSON" weightage="20" keywordseo="institute-of-eminence">Institute of Eminence</keyword> (IoE) tag to Kalinga Institute of Industrial Technology (KIIT) Deemed to be University, Bhubaneswar.</li></ul>Three premier Indian institutions are unhappy with the slow release of <keyword id="92892" type="PERSON" weightage="20" keywordseo="government-funds">government funds</keyword>. The issue came to the fore when Human Resource and Development Ministry (MHRD) awarded Institute of Eminence (IoE) tag to <a href="https://www.telegraphindia.com/states/west-bengal/global-goal-on-kiit-radar/cid/1719803">Kalinga Institute of Industrial Technology (KIIT)</a> in Bhubaneswar. But two institutes which were given the same recognition last July --Indian Institutes of Technology (IIT) Mumbai and Delhi and the Indian Institute of Science (IISc) Bengaluru — say that the government has not yet provided enough funds to implement IoE plans. The IoE scheme plans to rope in 10 public and private institutions and enable them with better infrastructure, amenities, and autonomy. As per the scheme, the government was to infuse ₹1,000 crore over five years to public institutions. Private institutions are not eligible for government funding. <keyword id="57604" type="CITY" weightage="20" keywordseo="iit-delhi">IIT Delhi</keyword> had requested for ₹200 crore but received ₹93 crore, as on September 2019. <keyword id="71852" type="ORGANIZATION" weightage="20" keywordseo="IIT-Mumbai">IIT Mumbai</keyword> received nearly ₹43 crore. On the other hand, IISc has received ₹78 crore against its demand for ₹167 crore in 2018. “There is a protocol for release of funds. The unused balance with the institute has to be reduced to 20% for further (fund) release,” HRD official <a href="https://indianexpress.com/article/education/three-institutes-iit-of-eminence-flag-slow-funding-govt-points-to-unspent-funds-6123451/">told</a> the Indian Express. The institutions have appealed for a regular inflow of funds to execute IoE scheme. “We cannot start a big project or activity if funds are released in piecemeal (manner). It’ll be much easier if funding is linked to an activity and not to fixed conventional heads under which the government usually releases funds,” the official added. The government recognised <a href="https://www.businessinsider.in/iit-madras-iit-kharagpur-du-banaras-hindu-university-university-of-hyderabad-gets-institute-of-eminence-tag/articleshow/70995236.cms">five Indian institutions</a> — University of Delhi, Indian Institute of Technology (IIT) Madras, Indian Institute of Technology (IIT) Kharagpur, Banaras Hindu University, and University of Hyderabad — under the IoE scheme this year. See also: <a href="https://www.businessinsider.in/iit-madras-iit-kharagpur-du-banaras-hindu-university-university-of-hyderabad-gets-institute-of-eminence-tag/articleshow/70995236.cms">IIT-Madras, IIT-Kharagpur, DU, Banaras Hindu University, University of Hyderabad gets ‘Institute of Eminence’ tag</a> <a href="https://www.businessinsider.in/mukesh-ambani-to-invest-15-billion-into-the-much-delayed-jio-institute/articleshow/70051829.cms">Mukesh Ambani to invest ₹15 billion into the much delayed Jio Institute</a> <a href="https://www.businessinsider.in/the-indian-government-may-shortlist-14-more-educational-institutes-for-eminence-tag/articleshow/66991082.cms">The Indian government may shortlist 14 more educational institutes for ‘eminence’ tag</a>

IITs, IISc say that patchy funding is delaying ‘Institute of Eminence’ plans

Budget 2016 has made prospective home buyers happy because of two reasons; one, the construction completion deadline for getting tax breaks under Section 24 has been extended from 3 to 5 years and two, the FM has announced an additional tax benefit of Rs 50,000 under Section 80EE for buying a house on loan. 
 Therefore, if you are looking forward to investing in some property or buying a new home for the first time in a Tier-2 town, here is ET’s list of <keyword id="6377036" type="UNKNOWN" weightage="100" keywordseo="smart-cities">smart cities</keyword> that you should put your money in. 
 
Bhubaneswar and Cuttack 
 These twin cities are amongst the fastest growing IT and educational hubs in the eastern region of the country, which has resulted in a boost in the <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword>. Not only this, the fact that most of the available land is government owned has made the real estate market well-regulated. North and south-west of Bhubaneswar is set for new developments, because of Infocity-1 and KIIT's deemed university. 
 
Visakhapatnam 
 
The largest city in Andhra Pradesh in terms of area and population also houses one of the largest harbours in India. In the last 5 years, Visakhapatnam has also drawn the attention of real estate investors, who have options of investing in several residential locations. 
 
Chennai 
 
One of the four metro cities in the country, the capital of Tamil Nadu offers both industrial and residential areas. While in North Chennai, industry dominates the circuit, central Chennai is more of a commercial and residential market. On the other hand, South and West Chennai offer residential areas. 
 
Coimbatore 
 
Known as the 'Manchester of South India,' for its burgeoning textile and spinning industry, this city has in the recent past diversified beyond textile to include general engineering, automobile parts manufacturing and IT/ITeS, resulting in a boom in the real estate. Gandhipuram flyover, Ring Road, Western and Eastern Bypasses, and airport expansion are also the reasons for the growing real estate scene. 
 
Kochi 
 
Counted in Indian government's smart city list, this city is also a favorite of many IT businesses. The commercial hub of Kerala also has the international airport and sea port as the factors responsible for its development in the real estate sector. Moreover, residential real estate in Kochi is also majorly owned by NRIs, with only 30% of end users being locals. Kakkanad, Thripunithura, Maradu and Aluva. Properties in Edapally, Kaloor and Vytilla are the places of one’s interest for real estate. 
 
Pune 
 
It’s not an unknown fact that Pune has been a favorite of the IT industry; moreover, its proximity to Mumbai is also a major driving factor, because of the Mumbai-Pune. While affordable options start from Rs 15 to Rs 30 lakh, the premium segment starts at Rs 1.3 crore and luxury projects can go up to Rs 2.5 crore. 
 
Ahmedabad 
 
One of Gujarat's largest business and trading hubs, the city offers a wide employment landscape driven by the textile, engineering, chemical and automobile industries. Not only this, it also attracts both talent and investors from across the country. East, south and north Ahmedabad offer good deals in property, while Ambawadi, Navrangpura, Shahibaug and Nehru Nagar come in the premium segment. 
 
Indore 
 
This city in Madhya Pradesh offers both an IIM and an IIT, which is why it is one of the fastest developing cities of the state. A strong pharma and auto industry presence has also influenced its real estate market. One can also find hot deals in the Super Corridor, which is an upcoming area, having IT industries like TCS and Infosys. Other than this, BRTS, Major Road (MR) 12, the Delhi-Mumbai Industrial Corridor are also the attractions of this city. 
 
<a href="http://newshub.ridlr.in/wp-content/uploads/2015/11/Pune.jpg">Image source</a>

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Know how Bhubaneswar is getting smart

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IITs, IISc say that patchy funding is delaying ‘Institute of Eminence’ plans

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