Each village and town in Kerala is a property (commercial and/or residential) hotspot as the native people of Kerala, or the Malayalee, is living far away from Kerala, the ones abroad as well as the ones who live in different parts of the country, have one dream in common – having a property back home. This becomes even more evident when you travel through Kerala by road. The National Highways connecting in and around the state are all lined not just with religious places (temples, mosques and churches) but also with multi-storeyed apartments and custom-designed villas.
The excitement and rush to put resources in Kerala’s real estate has, likewise, drawn the attention of unprincipled operators; to such an extent that the legislature has authorised a statute to manage land in the state – making Kerala just the second state after Maharashtra to institute such a mandate.
For most NRIs, Kochi remains the preferred choice for real estate investment. The simple reasons for this inclination are – connectivity, employment prospects and availability of good hospitals, schools and colleges. Discussing connectivity, the place has excellent road connectivity with not only other parts of Kerala, but with other parts of the country as well. Similarly, the international airport has an important role to play in bringing international flavours to this southern city.
Marine Drive is the Kochi’s best real estate destination, with property costs touching the sky. Be that as it may, the area in Kochi which is extremely popular with most home buyers in the current market scenario is Edappally – with an average property price of INR 8330 per sq. ft. Besides Edappally, there are many other nearby towns which offer home buyers best options with respect to Apartments for sale in Kochi, Kerala. These towns/localities include Aluva, Panampilly Nagar, Kaloor and Kakkanad.
Then we have Thrippunithara, another suburb of Kochi and once the capital of Cochin. The place is known for its luxury apartments spread over a million sq. ft. Kozhikode, best remembered as Calicut, is again the most asked for place for real estate investment in Kerala. The investment trends here have remained pleasant for some time. And has pulled in real estate investments primarily from the Middle East because of the fact that a large group of its population is employed there. Recently, many companies especially IT organisations have opened workplaces in this city, thus attracting young and high-earning professionals to the city.
Kerala’s capital city – Thiruvananthapuram – is the second largest city in the state with close proximity to the Tamil Nadu border. It is the entry point for the two states, and the majority of the population here are government employees. Some popular localities of the place that experienced major developments include – Vazhuthacaud, Vattiyoorkkavu and Vellayambalam. Karyavattom’s Technopark is the hub for young professionals, which again, is contributing to the real estate market of the place. The Vizhinjam Port project, once completed, will act as the catalyst for the real estate market of the state.
Kozhikode, the biggest urban city of the state, has emerged as the most preferred location to invest in real estate. Multiplexes, shopping malls, beautiful locations, and new job opportunities by various IT companies are boosting the demand for residential and commercial properties. IIM Kozhikode is also a great reason for real estate growth in the city. Kozhikode has an international airport, and is well-connected to cities like Mysore and Bangalore by road. Also, the government is putting all efforts in the growth of the city.
A great IT destination – Kerala is one of the fastest growing IT hubs with varieties of IT and tech parks in different cities. These Cyberparks are offering customised workspaces, advanced infrastructure and end-to-end services for international IT/ITeS companies. There are various small to big IT and software firms, especially in Kozhikode (Calicut). Different IT parks such as ULCC Cyber Park, Kozhikode CyberPark and many others are providing great opportunities for high salaried IT jobs. They are going to bring vast changes to the city in all the sectors including real estate, hospitality, and entertainment.
Other places of interest include – Killam, Kannur, Thrissur, Kanhangad, Kottayam and Palakkad. Conversely, new trends are being observed among people putting their resources in places like Cheranalloor, a place in the northern suburb of Kochi. Because the place is well-connected (NH 66 connecting Kochi with Panvel-Mumbai), it has attracted both NRIs and major corporates.
Most big-shot developers have come up with big and luxurious Apartments for sale in Kochi, Kerala. For more information on the project, and present and future investment prospects, visit us now.