Laxmisagar is one of the major tourist destination in Bhubaneswar, situated just behind Jatri Niwas on the Cuttack-Puri main road between Rasulgarh square and Kalpana square at a distance of 1 km from Bhubaneswar Railway station. Even though the words 'Laxmi' and 'Sagar' means ' Goddess of Wealth' and 'sea or ocean' respectively, local legends says that the place derived its name from the tragic love story of a young girl called Laxmi and her boyfriend Sagar who lived in that locality centuries ago.

Central Jail which is the biggest jail in Orissa is located at Laxmisagar. The open space in front of the jail has been a place for film shooting.  Hanuman temple, Maa Dalakhai temple, Patitapabana temple, Sriram temple and Buddheswari temple are some of the temple located within the premises of Laxmisagar. Jharapada village also called as  'Ramlila Padia' village, a very old village renowned for its big hanuman statue is also located near Laxmisagar. 

Besides these, the place is the home of several educational institutes like Central Institute of Indian Languages (CIIL) - Eastern Chapter (popularly known as the Eastern Regional Language Centre); Taalim Kendra (Lady Village Workers' Training Centre); Gokulananda Maharathi Law College; The Seventh Battalion of Orissa Armed Forces; Regional Traffic Training etc.  The busy Cuttack- Puri main road is one of the main business centre for all kinds of vehicle spares and heavy equipment dealers . The showroom of Jyote motors , one of the Maruti Suzuki delear in Bhubaneswar is situated on this road.