Kochi and its suburbs are seeing a gradual spurt in its realty market. The following article talks about the contributing factors for the boom in the real estate in Kochi. Read more…
The launch of several residential, commercial, infrastructure, retail and IT projects in Kochi have resulted in the upsurge in the real estate market in the city. While the residential value of prime localities is seeing a hike, the rental values are also increasing.
Here we highlight the three key factors that are playing a crucial role in the growth of Kochi real estate.
Expanding IT Sector
The IT industries in Kochi are growing at a rapid pace. According to the industry experts, this growth is emerging as the major economic driver of Kochi. With the aim of Kochi government to rank the city on the global IT map, there has been an upsurge in the demand for property prices in the city. Some of the key IT projects that have paved the real estate growth chart include and the first IT SEZ in Malabar, Info park in Kochi, and the UL Cyber Park in Kozhikode.
The IT sector expansion in Kochi has seen its impact on the property values of several localities such as Airport Road, Kadavanthra, Kakkanad, Aluva, and Vytilla. These localities, which include well-developed social and physical infrastructure, are witnessing both supply and demand of new and resale properties. With the completion of several under construction IT projects in Kochi will add to the boom in the realty market of the city. With an increase in several job opportunities due to the expansion of IT sector, the rising number of people relocating to the city will further increase the demand for the property. Another project, Kochi Metro Rail Limited (KMRL) aims to improve the traffic congestion and connectivity of the city, thus adding on to the advantage of the city.
Demand in Kochi Suburbs
Suburban areas such as Aluva, Kakkanad, Kalamasery, Parur, and Edappally are seeing an increase in the demand for more residential space. This has given an opportunity to several developers such as DLF, Shobha, Puravankara, Prestige, Brigade Group, and Dubai-based Emaar Group to launch projects in the city. The increase in the interest from HNI and NRI property investors in the new IT and residential projects has always influenced the demand for property in Kochi and suburbs.
Launch of Projects
The new developments continue to come up in Kochi and its suburban areas keeping the realty market always active. The huge demand for property in and around the city has resulted in the emergence of several residential projects. Some of the well-established developers like Ansals, Gokulam, Trinity, and SI have launched numerous luxury projects in the city.
Some of them include:
§ Prakrriti, Kakkanad
§ Pearls Garden View, Kadavanthara
§ Shila Blissful Palms
§ Grace Villas, Nedumbassery
§ Ansal City, Pathiyakavu
§ Silver Steak, Alwaye
The residential projects in Kochi offer best of the features and luxury amenities that define comfort living. These include swimming pool, well-equipped gymnasium, club house, sports facility, Jacuzzi, kid’s play area, jogging track, badminton court and cycling track. The hi-tech security features, earthquake resistant, and water harvesting are some other attractions in the residential apartments.
Whether you purchase a house in Kochi for end use or investment purpose, buying property in the city is a decision that you will cherish in your entire life. So, buy property in Kochi and enjoy lucrative returns over the long-term investment.
About the Author: Swati Srivastava is a prolific writer with a rich experience in writing content for various leading real estate websites in India. The above article highlights the key drivers of the real estate in Kochi.