Kochi is a place which offers a lot of opportunities to the builders in Kerala. The infrastructural development in Kochi is one of the reasons for the soaring prices of real estate in Kochi. It has today become the IT hub and promises a lot more developments. The real estate prices in Kochi have soared very high in the recent past.
A great appreciation in land prices has been observed in Kochi. The property prices in Kochi’s Marine Drive have skyrocketed to about Rs. 1 crore a cent. The luxury apartments in the nearby places also cost in the same range. The Mumbai real estate developers have made real estate deals for about Rs. 112 crores for 70 acres and Rs. 91 crores for 25 acres near Goshree bridges. In places like Ernakulam South, Ernakulam North, Shanmugham road, Panampilly Nagar and Kaloor a cent fetches as much as half a crore. Real estate prices in Chittoor, Palarivattom junction and Thevara range about Rs. 30 lakh while in Vyttila it ranges between Rs. 20 lakh to Rs. 30 lakh. The land rates in Kakkanad range between Rs. 15 lakhs to Rs 20 lakhs due to its proximity to Smart City. Places where land values will show much appreciation after the airport-seaport road is completed are Puthiyakavu,beyond Thripunithura and Chottanikara. Safe places for investment in property in Kochi are Thripunithura, Kakkanad and Alwaye.
60 to 80% of the residential properties in the city are booked by Keralites living overseas. The NRI investments in Kochi are a great boost for the demand for residential flats in the city. The
builder in Kochi tries to cater to the aesthetics of the returning NRI.
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