Kochi, the commercial capital of Kerala, is one of the most important and the fastest developing cities in the western cost of India, and one of the hot real estate markets in the state, with dozens of property/ apartment/flat/villa projects coming-up day by day. The urbanized culture and the lesser availability of living space have also played their pivotal role in elevating the real estate in Kochi to an entirely new level. Another positive element is the strategic location of the city on the transnational trade corridor.
There are numerous cities across India where real estate market is booming and Kochi is one among them. It is a fact that many residential and commercial properties in Kochi have been highly urbanized. Real estate investment in a Kerala city is considered as a striking asset today. Erstwhile hilly village of Kakkanad is growing as the hottest property investment attraction of the city. Non Resident Indians always took an active interest on Kochi real estate properties since 1980s. Large number of employees is settling in Kochi and it may be another reason behind the emergence of real estate activity in the state. Non-resident Keralites have expressed their interest in properties located in Kakkanad, Kaloor and Kalamassery. It is highly prestigious to buy a luxury apartment in Keralaís commercial capital.
The ongoing expansions of IT parks and the arrival of top IT companies like Wipro, Infosys, and many other multi-national companies have created a huge demand for affordable housing projects in the city. According to the top realtors, demand for affordable and top class apartments, flats and villas has increased like never before in the last two years. The continuous and steady flourishing of domestic companies has also helped in boosting the demand for top residential properties in the city as well as in some of the major suburban areas like Kakkanad. The demand for affordable housing is scaling to top due to the significant job related migrations in the city.
Another key factor is the constantly high demand from the NRIs who wish to settle down in Kerala in future. Although NRIs no more enjoy the monopoly in real estate in Kochi, a major share of investments in real estate in Kochi comes from NRI Keralites. The launch prestigious development projects like Smart City and Kochi Metro, and other progressiveness have also attracted a lot of stable investments in to Kochi real estate.
Kochi city is going great guns with a variety of developmental projects lined up for the city. Projects like Vallarpadam Container terminal, Kochi Metro, LNG terminal, Second Phase of Info Park etc all point towards the transition the city is going through. The first thing thatís going to affect is the lifestyle, which has improved over the years. With people from all over the country setting up base here, the need for these developmental projects were obvious. The rise of the IT sector has created job opportunities in the city and attracted a mixed floating population. The city is getting transformed and this has directly affected its real estate. People are buying apartments and flats to stay and to rent out. There is a huge demand for real estate in Kochi with the rise in demand for land and property in suburbs like Kakkanad, Angamaly, Kalamassery, Edapally, Thripunithra and Cheranallur.
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