Impact and influence of Kochi Metro Rail on the Property Values

Kochi Metro Rail will fuel the real estate price and property values in Kochi and suburban areas and if
mofusil centers. One of the most prominent ways that people understand the value of a property is
through the price or value of a home asset they own or the rent they get for their property. Metro will
fuel the growth of the city as well as the surrounding areas due to easy and speedy accessibility to
surrounding areas, market penetration pedestrian accessibility, development impacts. It will facilitate
to reduce travel time to major employment centers, savings of commute time, development of lower-income
neighborhoods, the benefit of speedy, easy and affordable access to suburban centers, like,
Aluva, Angamally, Muvattupuzha, Pallikkara, Pookkattupady, Edathala, Choondy, Piravom
, Mulanthuruthy, Cherthala, Aroor, etc.

Trends the world over have shown that cities tend to get reoriented to mass transit systems and
property prices in these corridors behave differently. Kochi Metro Rail project as Transit Oriented
Development (TOD) was being planned in the city and once the project shapes up, growth will happen
in the nearby areas of the city as well as the developing areas of nearby towns and villages and people
working in the city can obtain affordable housing units in the neighbouring places and the real estate
value will definitely go up in these areas and the rental and property values in the city will go up rapidly
.This fact can be corroborated from the recent value appreciation of the real estate values and rental
factors of the properties near to the Kochi Metro Rail. For example, a property that fetched a rental
income of Rs.10,000/- for a one-room apartment in Meadows Vattoly Towers near Lissy Junction Station
of Kochi Metro is now fetching Rs.20,000/- and the property which was having a market value of Rs.15
lakhs now demands a hefty value of Rs.30 lakhs.