Six Fastest-Growing Cities in Kerala You Should Consider Investing In
July 21st, 2022
Kerala is one of the most popular places to invest in. Here’s a peek into God’s own country which features some of the fastest-growing cities in Kerala. The economy of Kerala was the ninth largest in India, with an annual Gross State Domestic Product of Rs. 9.78 lakh crore in 2020-2021. Per-capita GSDP of Kerala was the sixth largest in the country, at Rs. 205,484 for the same year.
As per the projections of the report of the technical group on population projections, the proportion of people aged 50 and above was 38.7% in Kerala, compared to 28.2% at the all-India level. This number suggests that the state demonstrates developed-economy demographic characteristics. Kerala has also been on top of the human development indicators and boasts of a robust public-welfare system.
With picturesque landscapes, a largely pleasant climate, a rich cultural history, deep knowledge of Ayurveda, and exotic cuisine, Kerala is truly a paradise on earth. Whether it is the hill stations of Munnar, beaches of Varkala, boathouses of Alleppey, or the canals of Ashtamudi, Kerala is certainly a tourist’s delight.
This state is home to unparalleled healthcare facilities, a 100% literacy rate, the lowest infant mortality, and the highest life expectancy, making it one of the most sought-after places to live in. Read on to discover the fastest-growing cities that you can live in to savour every moment spent here.
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Fastest-Growing Cities in Kerala
With infrastructural development taking place at lightning speed, the pursuit to live in cities has increased multi-fold. Here are six of the fastest-growing cities in Kerala:
With verdant Nilgiris on the east and the expansive Arabian Sea on the west, Malappuram is the epitome of natural beauty. The district which covers an area of around 3550 sq. km. topped the list of the fastest-growing cities in the world in terms of population. As per a report by the United Nations Population Division, Malappuram took the top spot with a 44.1% change.
The difference between the populations for 2015 and 2020 is taken to calculate this figure. Experts in the field of population and migration opine that the heavy internal migration into the state is the reason behind this number.
The ‘city of spice’ – Kozhikode, for centuries, has been thriving on the trade of spices with the Arabs. Located in northern Kerala, this is the third largest city in the state, after Thiruvananthapuram and Kochi. The city has abundant natural beauty, wonderful beaches, captivating waterfalls, and numerous backwaters.
The city that sees a growing IT industry, and thrives on tourism, contributes to about 12% of the state’s annual income. With a current population of 39,21,000 as of 2022, Kozhikode is home to some of India’s premier educational institutions like IIM (Indian Institute of Management) and NITC (National Institute of Technology).
With world-class multi-specialty hospitals, shopping avenues, pristine rivers, long beach lines, and majestic hills, the city is certainly one of the fastest growing, and most preferred cities in Kerala.
Must Visit: Flats/ Villas to Invest in Kozhikode
Kollam, 70 km north of Kerala’s capital – Thiruvananthapuram, is one of the most populated places in Kerala. Estimates from the Aadhaar data suggest that as of 2022, this district is home to 2,780,322 people. As per the UN report, there has been a 4.38% increase in population from the year 2021 to 2022 in metro area population. This district has been the centre of the cashew industry since the time of the arrival of Portuguese traders in the 16th century and continues to be the largest exporter of the same in India.
Those who have visited Kollam would have also witnessed locals engaging in the manufacturing of coir, one of the major traditional industries of the state. Coconut fibre, extracted from coconut husks is meticulously weaved to make the coir – one of the strongest threads in the world. This industry alone employs close to over four lakh people, as per the latest reports.
The cultural capital of Kerala, Thrissur’s population is 32,92,867, as per the Aadhaar card estimation and the UN report features this city in the 13th position. Thrissur is believed to be the oldest city on the west coast of India. Built around a hillock, the city is a popular destination for global tourists during the annual event called Thrissur Pooram – a magnificent festival that culminates the spiritual and cultural essence of the state.
The city is a hub for textile and jewellery industries and manufactures 70% of plain gold jewellery a day in Kerala. The tile industry, which is over a hundred years old in the region also employs a significant chunk of the population. All of these factors could contribute to the ever-growing population, securing it a spot as one of the fastest-growing cities in the state of Kerala.
Must Visit: Flats for Sale in Thrissur
Thiruvananthapuram thrives on tourism, derives income from rubber, coffee, and tea plantations, and is home to a booming IT industry. This city has a population of 34,84,007 people as of 2022, as per the Aadhaar card estimate, and is a melting pot of social, religious, and economic factors.
The city is expected to undergo a major transformation in the coming years, all thanks to the Vizhinjam International Transhipment Deepwater Multipurpose Seaport, which is expected to be completed by December 2023. Three technoparks are also in the making that is likely to be completed by November 2022.
The Kazhakoottam elevated highway – touted as the longest four-lane elevated highway in the state, is also nearing completion. Numerous small-scale industries and large-scale manufacturing industries have set their base here.
From oil mills, sawmills, rubber industrial units, and much more to leading manufacturers of anatase-grade titanium dioxide in Asia or the Rajiv Gandhi Centre for Biotechnology, these industries put the capital city of Kerala, Thiruvananthapuram on the global map.
The estimated population of Kochi for the years 2021-2022 is 6,50,511 and the city has emerged as one of the fastest-growing tier-II cities in India. Thanks to its strategic location, the port city has been in the spice trade with the Arabs, Chinese, and European merchants since the 14th century.
In 2018, Kochi ranked the topmost emerging city in the country, based on a study by Jones Lang LaSalle (JLL). Widely known as the commercial capital of Kerala, World Bank recognises Kochi as one of the 17 major industrial cities of India. Some of the major business sectors include construction, shipbuilding, seafood, and spices exports, tourism, health services, and chemical industries.
Must Visit: Flats for Sale in Kochi
Kerala is one of India’s most advanced societies and boasts of the highest literacy rate in the country. The state also holds the lowest record for child labour, offers excellent infrastructure, and thrives on tourism. In Kerala, the population below the poverty line is 12.5% – the lowest in any state in India.
The state practices sustainable development and has therefore paved the way for the Kerala model of development. With this development, there is going to be an increase in demand for real estate properties shortly. Real estate investments today are bound to fetch better returns in just a matter of time. Hence there is no better time than now to buy flats in Kochi, Thrissur, or even Kozhikode.