The railway has been very important to the growth and development of Olavakkode. The main railway station in the city Palakkad Junction is situated here. It is also the entry point by road from the North Malabar. During the last decade lot of residential colonies have come up in this area, making it one of the good residential areas of Palakkad. Also NH 213 Connecting Palakkad to Kozhikode through this way To cater to the needs of the populace, lot of facilities like banks ( including Sunday banking by one of the premier banks), ATMs,shopping places, lodges, hotels (though quality of food is a question mark), hospitals, dental outlets, marriage halls and the like have sprung up. A good by pass road connecting Olavakkode with the NH 47 is also in the final stages of completion, which will make travel from Calicut road to Trichur road a pleasurable one from the present tedious one.