Property in Kerala
India’s most beautiful state Kerala, renowned to be “God’s Own Country” is a major tourist destination due to its rich cultural heritage as well as natural beauty. It has various places like Kochi, Palakkad, Alappuzha, Kollam, Thekkady, Kozhikode, and Thiruvanathapuram that offer attractive sightseeing in the state.
The rapid pace of changing lifestyles of Malayalees, have led to a significant growth in the real estate sector of Kerala since last few years. Today’s generation has started planning about their own homes at much earlier stage in life as compared to their ancestors.
Taking advantage of the present scenario, the major property developers have focused their attention towards the Property in Kerala and thus have brought many innovative transformations in their developments. Keralites simply want the best for themselves and have become very cautious of their lifestyles and thus give priority to projects that will best suit their tastes and requirements. As a result of this, almost all the property developers in Kerala have categorized their structures be it apartments or villas in to segments like budget, luxury and high-end.
The Kerala property market is also undergoing a faster economic growth which is mainly due to the increasing population in the state and also due to easy availability of funds for the people to invest more in property market especially after the announcement of smart city.
The state in its ambitious efforts aims to transform the job scenario in Kerala, by anticipating 90,000 job openings by 2020.
Peripheral areas like Vytilla, Palarivattom, Panampilly Nagar, Edapally, Kadavanthara and Palarivattom have a number of upcoming projects lined up of a smaller range.
Kerala state’s real estate sector flaunts a perfect mix of well-crafted and well planned structures, including high end commercial set ups, office spaces, residential plans, IT or business parks. A few of the hotspots of realty investment are:
Classified as a Tier-II city, Kochi, the commercial capital of Kerala, is soon emerging as a realty hotbed with several developers making their presence feel in the city through their structures. There are several factors that contribute towards the development of its realty segment like the smart city initiative, launch of kochi metro, a steady infrastructural development and enough of job opportunities have all worked in its favor.
It is the preferred investment destination for most nonresident Indians (NRIs) also for it has excellent connectivity, proximity to good schools, colleges and hospitals as well as job opportunities. Connectivity wise, the international airport gives this southern city its international flavor. The city’s exclusive premier real estate destination is the Marine Drive having very high property prices.
Kozhikode or Calicut Real Estate
Housing more than 20 lakh people is Kozhikode, which is also the third largest city of Kerala. It is a home to over 40 IT companies, and is at a drive of 6 hours from Bangalore, and 4 hours from Mysore. Factors adding to its realty growth are the presence of top class Educational institutions like IIM Kozhikode, a few of the prime infrastructural developments, and the forthcoming monorail connecting various parts of the city.
Kerala’s capital city Trivandrum is the second largest city in the state and has undergone a lot of developments recently. Majority of the residents here are government employees. It has many commercial and residential projects ready to be delivered and many more still in pipeline by a horde of top notch builders and developers.
Hence the Investments in Kerala property market promise high returns on the forthcoming constructions. It is emerging as one of the up-and-coming states of India inviting investors from all walks of life. As one can make out, the speed at which the real estate market of Kerala is developing, it’s the right time to invest here.