Prominent Housing Markets to Invest in Kerala
January 17th, 2019
Kerala is one of the most popular tourist destinations of India. Its economy is driven by the remittances from the non-residents working, especially in the Middle East. As per estimates, the contribution of remittances amount to more than a fifth of Kerala’s Gross State Domestic Product (GSDP).
In the recent years, the state has also witnessed an uptick in the commercial spaces, especially with the growing IT sector in the region. Several tech parks have been set up in many cities of the state, which has also given a fillip to the housing market in Kerala.
Today, we look at some of the prominent housing markets in Kerala.
· Kochi: A major port city, Kochi is considered as the commercial and industrial hub of Kerala. Industries such as tourism, spices, seafood, shipping and international trade are thriving in the city in recent times. The city has witnessed remarkable infrastructure development with access to world-class healthcare and educational facilities, making it a profitable investment option for Indians and NRIs. Kochi has the distinction of being the only city in Kerala with Metro connectivity and a container terminal that facilitates international trade. In addition to this, IT parks such as the Kochi Infopark and SmartCity at Kakkanad have transformed the city into a key IT hub. This has augmented the demand for luxury housing in the city driven by the NRI community, especially from the Middle East. The city also houses Cochin International airport, the largest and most preferred airport of Kerala. Some of the key and upcoming housing pockets in the city include Marine Drive, Edapally – Vytilla bypass, Fort Kochi, Panampally Nagar, MG road among others. Marina One and SOBHA Isle are two noteworthy projects to watch out for in Kochi.
· Thrissur: Popularly known as the cultural capital of Kerala, Thrissur has a rich legacy of culture, religion and spiritualism. The city has become one of the top realty hotspots due to its status as the financial hub of Kerala. The city offers ease of connectivity, driving the housing demand. The railway station is just 2.1 km away from Thrissur city and Cochin international airport is just 50 km away. The city also has easy access to all leading social infrastructures and some of the best educational institutions, hospitals and shopping centres. Some of the prominent housing markets of Thrissur include Amala Nagar, Adat, Ayyanthole, Pottore and Pukunnam. Thrissur is increasingly becoming a magnet for established developers due to the availability of land, good law enforcement practices and thriving tourism industry. Moreover, the city enjoys a moderate temperature throughout the year. Prominent projects from SOBHA in the city include SOBHA Silver Estate and SOBHA City, Thrissur.
· Kozhikode: From being a major trading port in the past, Kozhikode has come a long way to emerge as the fastest growing urban agglomeration in Kerala. The city has a good transport infrastructure and is well-connected by air, rail and roads. Ever-expanding infrastructure development, world-class hospitals, educational institutes like the IIM and NIT, retail make Kozhikode one of the finest residential destinations. The city is also the heart of IT and industrial development, thus driving the housing market. Real estate in the city has been growing like never before. Good living conditions and connectivity have also been attracting number of people including NRIs. Some of the top housing destinations in Kozhikode include Palazhi, Velliparamba, Feroke, Poovangal, Nadakkavu, Puthiyara, Kovoor etc. The significant projects in the city include SOBHA Rio Vista and SOBHA Bela Encosta.
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