Why is Kochi, a hit piece of cake among realtors

According to statistics, property prices in Kochi is growing by an average of12.8%, when the top ten property markets are struggling against a possible price correction. All the big developers like Sobha, prestige, Puravankara, DLF and TATA launched properties in Kochi.

    The main reason why Kochi , a cost conscious, tier 2 city is performing better than the tier 1 property market is because of the so called “Gulf  Money”, that is flowing into the southern part of India.

      Kochi is growing commercially with tourism and international trade booming in the city. Kochi is the only city in Kerala with metro rail connectivity, a container terminal and an International Airport that facilitates international trade. The IT sector has also turned to Kochi due to the lower cost of doing business per square feet and better climatic conditions. The  IT parks in Kochi such as Infopark and Smart city had transformed Kochi into a key IT hub. This is indeed fuelling the demand for quality office spaces , hotels, retail outlets, and residential apartments.

  Another reason that was instrumental in driving up property prices in Kochi  are the government’s initiatives like single window clearance and concessional power tariff. The Kochi metro rail was also a boost to Kochi’s reality market.

    Kochi has three primary markets

• Marine Drive -which is considered to be a prime area, with its picturesque backdrop of backwaters and harbour , and many luxury premium projects sprung up in this stretch.
• Kakkanad-presence of Infopark  and Smart city which attracted investments from IT majors like Wipro , TCS, IBS software etc led to a surge in housing development in and around Kakkanad  and Kakkanad emerged as a major IT corridor.
• Edapally-Edapally is a major commercial centre as wells a prominent residential region.Cochin bypass connects Edapally with Aroor which is an industrial town on the south end of Kochi. The bypass junction at Edapally is the north  end of Cochin bypass which extends up to Aroor.The entire route is evolving into a major business hub with big time stores and five star hotels. Two national highways NHa 47 and NH 66 join the Kochi bypass junction at Edapally.NH 66 passes and continues up to Panavel , Maharashtra.

       Easy connectivity between various parts of Kochi as well as to outside city is a major reason why Edapally emerged as a residential and commercial hub.

   With the educational institutions and medical facilities mushrooming across the city there has been a constant flow of migration to Kochi from other parts of Kerala and neighbouring states making it a densely populated city.

   In a nutshell, it s not only the “Gulf money” but multiple demand drivers that have led to the growth of the real estate market in Kochi