Kochi is the third biggest city of Kerala state and it is becoming into one of the most preferred realty investment destinations of Kerala. The city is listed under smart city project mission, which is going to add value in the overall development. This includes the growth of IT/ITeS sector, metro rail project, road connectivity and more. Earlier Kochi was struggling to recover from the oversupply scenario, but with the sustainable growth in prices has incited the interest of builder lingo. Several residential, commercial, office space, business parks and hospitality projects are being launched in Kochi.
It is a major port city and a popular investment location for the Non-Resident Indians (NRIs). It is receiving attention from IT sector, where the top-notch organizations are looking forward to expand their business. Due to this the real-estate sector has gained the momentum and the potential buyers are looking for affordable housing that are equipped with all modern day amenities.
Here are the primary reason why Kochi is a better investment spot,
Nominal Prices
Property prices in Kochi are much lower in comparison to other major cities such as Mumbai, Kolkata, and Bangalore etc. Some of the builders are offering lavish projects at very nominal price in order to maintain the cash flow that has been affected by the decline of NRI investment. The potential buyers can grab this opportunity to buy quality property at attractive prices. According to expert reports, the average capital rates in Kochi are between 3,900-6,000 per sq. ft. and it is at the lowest rates at present.
Socio-infrastructural Developments
As Kochi is listed under Smart City Mission, it is going to bring various socio-infrastructural developments. It is a clean city with very low pollution levels. Comparatively, the crime rates are also lower than tier I cities, which makes Kochi an excellent option for the buying a vacation home and lead a peaceful life.
Upcoming Developments
Kochi has several infrastructure projects in the pipeline that are expected to help Kochi’s realty potential growth. Though many of them are yet under initial stages only, but specialists are confident that once the projects will get streamlined, Kochi’s popularity will develop by leaps and bounds. Some of the prominent projects in Kochi are:
Metro-Line Project: Metro line construction is an important project that will boost the connectivity within the city and will save the travelling time. It is a 25 km long stretch, which will cover Petta to Aluva and will cross through Edapally, Ernakulam, South Kalamassery, Elamkulam and Palarivation.
Industrial Corridor: The anticipated Kochi-Palakkad-Coimbatore and Kochi-Kasaragod industrial corridors are expected to uplift the industrial activities and will provide more employment in particular regions.
Vallapadom Container Trans-Shipment Terminal: It is a high-budget project that will turn Vellapadom in a major trans-shipment hub. This will attract shipping companies across the globe and will bring incredible growth opportunities for Kochi.
Though, from the last few years, the construction world of Kochi was stagnant, but now it is gaining momentum. The above mentioned factors makes Kochi a prime investment zone for both investors and the buyers. According to realty guru’s, it is a perfect investment time as in coming future, the property prices will surge due to upcoming infrastructural developments.