Key Factors to Consider When Choosing Available Flats for Sale in Kochi

Known as the Queen of the Arabian Sea, Kochi is a beautiful city located on the southwest coast of India in the state of Kerala. With its stunning backwaters, historic landmarks, and vibrant culture, Kochi has become a popular destination for people from all over the world.

The city’s growing popularity has led to an increase in the number of available flats for sale, which can make choosing the right one a relatively challenging task. Below, we will discuss some key factors to consider when choosing a home in one of India’s finest metros.

1. Location

The first and foremost factor to consider when choosing available flats in Kochi, is the location, for it can have a significant impact on the quality of life. Ideally, you want to choose a location that is close to IT hubs, business parks, schools, hospitals, and other amenities. You also want to consider the safety of the neighbourhood and the proximity to public transport.

With the upcoming Phase II and Water Metro service of Kochi Metro Rail, the public transit system is all set to get a massive upgrade. Areas like Vyttila, Marine Drive, Silversand Island, Maradu, Palarivattom are expected to benefit from the same, offering seamless connectivity within the city and towns outside. Residents of these areas, their visitors, and support staff will greatly benefit from the enhanced mobility. This will have an outsized impact on the valuation of properties located in such areas, and ensure better quality of life for residents.

When considering the location, it is important to think about the long and short term. For the latter you would want the convenience of city living. Over the years your preference could shift towards a quieter and more peaceful environment – as green spaces near your home can improve your quality of life. However, these days you need not compromise as a few luxury projects feature the best of both worlds – they are located in the heart of the city, yet have abundant greenery.

2. Budget

Another key factor to consider when choosing new flats for sale in Kochi is your budget. The price range of flats in Kochi depends on their location, size, amenities, developer, and quality. Before you start your search, determine your budget by considering the monthly income, monthly, annual, and long-term expenses, current & future liabilities, and other financial obligations.

When setting your budget, it is important to remember that the cost of the flat is not the only expense you’ll incur. You’ll also need to factor in the cost of maintenance fees, property taxes, and other expenses associated with owning an apartment.

3. Size

The size of the flat, which can depend on personal preferences and budget, is another critical factor to consider when choosing available flats for sale in Kochi. If you have a large family, you’ll need a larger flat with more bedrooms and bathrooms. If you’re single or a couple, a smaller flat may be more suitable.

It’s important to remember that the size of the flat can impact the price. A larger flat will cost more than a smaller one, all other factors being constant. It is also important to consider the layout of the flat. A well-designed flat wisely utilises the available space, and hence feels more spacious & efficient than a poorly designed one.

4. Amenities

The amenities available in the apartment complex can add to the cost of the flat, but they can also make life more convenient and enjoyable. Some amenities to consider include:

•  Swimming pool
• Gym
• Jogging Track
• Clubhouse
• Security
• Kids Play Area
• Parking
• Power backup
• Areas for games such as badminton, basketball, tennis, etc
• Mini-supermarket / grocery store

Amenities also increase the intangible and tangible value of your property. If you plan to sell the flat in the future, amenities can make it more attractive to potential buyers.

5. Property Appreciation

Over the past few years, Kochi’s real estate market has seen steady growth due to the city’s economic development and infrastructure improvements. It is important to note that property appreciation rates can vary depending on the location, type, and quality of the property.

Some of the factors that influence property appreciation in Kochi include the city’s growing IT and tourism sectors, improved connectivity through dense road, rail and air networks, and the development of new residential and commercial projects. Overall, Kochi’s real estate market is stable and growing, making it an attractive destination for property buyers and investors.

6. Developer Reputation

The reputation of the developer is another critical factor to consider when choosing available apartments for sale in Kochi. It is safer to choose a reputable developer who has a track record of delivering quality projects on time.

Research the developer’s history and read reviews from previous customers to get an idea of their reputation. Working with a trustworthy developer can give you peace of mind, by ensuring that your home is built with high standards of quality and handed over on or before the promised delivery date.

7. Legal Compliance

Legal compliance is another factor to consider when choosing available flats for sale in Kochi. The flat you purchase should comply with the laws and regulations at all levels – city, state, national. Before purchasing the flat, ensure that the developer has obtained all the necessary permits and approvals. The authorities will only accept a building’s construction plan, if the land falls in the ‘buildable’ category.

Hence, to be sure that the developer has obtained the requisite government licence, you must request the developer or the owner of the property to show you the permitted paperwork. Working with a reputable developer can help ensure that the flat is legal and compliant.

8. Type of Approvals to Check Before Buying A Flat

There are several approvals and documents that you should check, to ensure that the property is legally safe for purchase. Some of these important approvals and documents are Title deed, Approved building plan, Completion certificate, Occupancy certificate, No objection certificate, Property tax receipts, Sale agreement. It is always advisable to seek the help of a legal expert, who can help you with the verification of these approvals and documents before buying a flat.

Final Thoughts

Purchasing a flat or apartment in Kochi, Kerala is an excellent idea, but it needs careful consideration of certain criteria for a seamless, hassle-free purchase. It is critical to investigate the site, legal approvals, developer’s reputation, building quality, amenities, upkeep expenses, documentation, and resale value.

By keeping these considerations in mind, you will make an informed decision and prevent potential complications. Take your time researching and understanding all elements of the property before deciding to proceed with the purchase.