Kochi, formerly known as Cochin, is the commercial capital of the state of Kerala. It is considered to be the second largest city on the western coast of India. Kochi is very popular as the ‘Queen of the Arabian Sea’ and is located in the center of Kerala. This city is located on a group of islands in the midst of beautiful landscapes and exotic beaches. It offers a perfect combination of the beauty of nature with its beaches and backwaters; rich history with its palaces, fortresses and old churches and a metropolitan atmosphere with its imposing buildings, luxury homes and business centers. The city of the beach, Kochi is one of the most popular tourist destinations in the country.
The tourist hub of Kerala, Kochi is one of the largest Indian cities and a metro with excellent air, rail and road connectivity. Cochin offers all the world-class facilities of a great city of convenience, from attractive residential and commercial settings to fast banking and medical services, high-end hotels, educational and dining facilities. In fact, it is the most advanced city in India with a 100% literate, highly skilled and productive workforce. Starting to rank among the important IT hubs, the Kochi real estate market is experiencing a boom in its real estate sector.
The urbanized culture of the city is another critical factor in taking its real estate market to new heights. Cochin’s strategic location in the transnational trade corridor also makes it a favorable element to boost its real estate market. In addition to the culture and location, the excellent communication network and the easy availability of efficient employees are other important advantages for the city. In addition, many infrastructure developments are taking place throughout the region, such as the Metro Rail project, the new bus terminal, the LNG terminal, the port special economic zones, the improvement of the city’s traffic system and various others.
Kochi’s residential sector is developing exponentially due to high demands from NRIs and real estate investors. Nearly 2 million NRIs living abroad are making huge investments in Cochin’s residential spaces furthering the trend of luxury and luxury apartments. Gone are the days when people spent a lifetime in an old house without wanting to leave it. Today’s generation wants to buy the most luxurious and comfortable spaces that clearly reflect their class and style. Building luxury apartments offering a splendid choice of homes with a variety of amenities is the new agenda for property developers in Cochin. The high standards of living and the corresponding demand for luxury properties in Kochi are possible due to several reasons:
– Increased disposable income of the middle class.
– Affordable properties available quite easily.
– Housing for migrants who work with various companies in the city.
– The ongoing expansion of Indian corporations, multinationals and IT parks.
– Long-term investments of NRIs in real estate projects.
– Reactivation of the market much earlier than expected.
Kerala’s port city, Cochin, has been ranked as the second potential city for investment in the IT sector by NASSCOM. The gigantic ‘Smart City’ project proposed by Dubai Internet City (DIC) will bring an investment of Rs 1,500 crore.
The administration is also moving ahead to provide basic infrastructure facilities such as power, international broadband and urban transportation to investors. Real estate market experts and analysts expect a capital appreciation of around 12-15% in the coming years. DLF City, Sahara Builders, Great India Estates, Skyline Foundation, Puravankara Projects, Sobha Developers, Prestige Group, Emaar-MGF, Brigade Group Anzera Properties, etc. are some of the construction companies that have established their projects in the city.
Despite the recession, real estate is still the safest form of investment, especially in Kochi.