Why Kochi is the Best Place to Buy a Flat in Kerala?
July 15th, 2024
Kochi emerges as Kerala’s top choice for flat investments – blending strategic location, robust infrastructure, and a booming economy. With diverse housing options and promising investment potential, Kochi is the best place to buy a flat in Kerala, as it caters to both homebuyers and investors seeking vibrant lifestyle and high returns.
The financial capital of Kerala has emerged as one of the most sought-after residential destinations in the state. Strategic location, robust infrastructure, and expanding metro network make it ideal to buy a flat in Kochi – with diverse housing options from luxurious waterfront apartments to affordable suburban homes.
This vibrant city emerges as the top choice in the state, with ongoing initiatives such as the Kochi Smart City project and infrastructure expansions enhancing connectivity and liveability, when it comes to Kerala property investment. The city offers a compelling combination of factors that make it the best place to buy a flat in Kerala.
Table of Contents
7 Reasons Why Kochi is the Best Place to Buy a Flat in Kerala
Positioned as Kerala’s commercial hub, the strategic location and ongoing infrastructure developments in the city, such as Kochi Metro and thriving IT sector, ensure robust potential for capital appreciation and high returns. Whether for residence or investment, Kochi is the best place to buy a flat in Kerala.
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Thriving Economy and Job Market
According to a Times of India report, Kerala’s IT sector rebounded strongly in 2023, with significant increases in export revenue from IT companies across government-controlled parks. These include Technopark Thiruvananthapuram and Cyberpark Kozhikode, as well as private parks such as UL Cyberpark Kozhikode and Muthoot Technopolis Kochi.
Central to Kerala’s economic landscape, Kochi is the state’s rapidly growing IT hub – anchored by renowned business centres like Infopark and SmartCity. Infopark alone accommodates over 200 companies, employing more than 50,000 professionals in sectors from software development to biotechnology.
The government’s plans to establish 20 small IT parks along the national highway from Kannur to Thiruvananthapuram, with preliminary approvals for IT spaces ranging from 5000 to 50,000 sq ft. In this context, Kochi’s strategic location in the state further highlights its advantages and growth prospects. This robust ecosystem makes Kochi the best place to buy a flat in Kerala.
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Excellent Infrastructure and Connectivity
Distinguished by its advanced infrastructure, the city is anchored by a modern metro system that revolutionises city commuting. Since its inception in 2017, Kochi Metro has seamlessly connected key residential and commercial hubs, enhancing convenience for daily commuters.
Complementing the metro, a well-developed network of roads (NH66 / NH544 / MG Road), bridges (Goshree, Valarpadam), and waterways (Bolgatty Channel, Ernnakulam Channel) ensure efficient connectivity throughout the city and its surroundings.
Located strategically on the Malabar Coast, Kochi enjoys excellent connectivity (ferries and water taxis) with major cities and towns across Kerala, further bolstering its appeal as a preferred destination for residential and commercial investments. This multimodal infrastructure not only facilitates easy access to essential amenities such as schools, hospitals, and shopping centres, but also supports seamless travel within the region.
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Diverse and Vibrant Culture
The city seamlessly blends its rich heritage with a modern, cosmopolitan lifestyle. This unique cultural tapestry is one of the many reasons why Kochi is the best place to buy property. From the historic Fort Kochi area, with its Dutch and Portuguese influences, to the bustling streets of Mattancherry, home to the iconic Jew Town and Paradesi Synagogue, the city offers a glimpse into its fascinating past.
Its cultural calendar is equally vibrant, with numerous festivals and events celebrated throughout the year. The Kochi-Muziris Biennale, a contemporary art festival, has put the city on the global map – attracting art lovers from around the world. Held during Christmas, the annual Kochi Carnival is another popular event that highlights the city’s rich cultural heritage through music, dance, and parades.
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Wide Range of Residential Options
The city hosts a diverse real estate landscape that caters to the needs of homebuyers with varying needs, budgets, and preferences. Its residential market is dotted with projects by reputed developers, offering a wide range of options from luxurious high-rise apartments with stunning backwater views to affordable flats in well-maintained communities – making Kochi the best place to buy a flat in Kerala.
The city’s diverse neighbourhoods cater to various preferences – with Infopark and SmartCity attracting IT professionals, Marine Drive (Marina One) and Panampilly Nagar offering upscale luxury, and Kakkanad and Vyttila (SOBHA Atlantis) catering to families seeking proximity to schools and hospitals.
By investing in a flat in Kochi, homebuyers can explore a wide range of options and finalise one that suits their budget and lifestyle preferences – making it an attractive proposition for those seeking to buy a flat in Kerala.
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Ideal Location and Natural Beauty
Kochi is the best place to buy a flat in Kerala because of its unparalleled location that seamlessly blends urban development with the natural beauty of the region. Situated on the Malabar Coast, the city offers homebuyers a unique opportunity to experience the best of both worlds – the convenience of a thriving metropolitan area and the tranquillity of nature.
Its strategic positioning grants residents easy access to stunning beaches, picturesque backwaters, and lush green spaces – including the Western Ghats, a UNESCO World Heritage Site. Kochi’s natural assets provide a serene and rejuvenating counterpoint to the city’s bustling commercial activities, making it the ideal destination for those seeking a harmonious blend of convenience and natural splendour.
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Lifestyle and Amenities
The city is celebrated for its vibrant lifestyle – with a plethora of shopping malls such as Lulu Mall, Oberon Mall, and Centre Square Mall, catering to diverse retail needs. Its dining scene is equally diverse, featuring a rich tapestry of restaurants, cafes, and eateries serving both local flavours and international cuisines.
Kochi hosts esteemed educational & healthcare institutions such as Cochin University of Science and Technology (CUSAT), Aster Medcity, and Amrita Hospital – ensuring top-notch facilities for residents. Its recreational spaces, including parks, botanical gardens, and sports complexes, offer many opportunities for leisure and fitness activities.
The Asian Development Bank’s approval of a USD 170 million loan in 2023 aimed at modernising Kochi’s water supply services. By ensuring access to clean water and bolstering climate resilience across the city, this initiative is set to significantly enhance urban living standards. Be it the sophisticated lifestyle or modern urban facilities, Kochi stands out as the best place to buy a flat in Kerala.
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Investment Potential
The city’s real estate market is experiencing a sustained upward trajectory, making it an attractive option for discerning property buyers seeking high returns. Kochi’s position as a developing city with a booming economy translates to a continuous rise in property values.
This trend is fuelled by a growing job market, robust infrastructure development such as the metro expansion, and a flourishing IT sector anchored by Infopark. With these factors propelling the city on a clear growth path, Kochi becomes the best place to buy a flat in Kerala. As the city continues its upward journey, the value of your property is likely to increase significantly, offering substantial returns on your investment.
Conclusion
Kochi stands out as the best place to buy a flat in Kerala due to its strategic location, robust infrastructure, and flourishing economy. Whether you seek a vibrant urban lifestyle or tranquil coastal living, the city caters to diverse preferences and budgets – making it an ideal choice for both homeowners and investors.
If you are considering making Kochi your home or investment destination, now is the time to explore the multiple opportunities it offers. Consult a trusted real estate advisor to navigate the market, and to find & buy a flat in Kochi that meets your needs. Take the next step towards securing your dream home, where lifestyle, investment potential, and quality of life seamlessly converge.
FAQs
1. Why should I consider buying a flat in Kochi over other cities in Kerala?
You should consider buying a flat in Kochi over other cities in Kerala, because it fosters a strong economic environment with a variety of job opportunities, excellent infrastructure, and a lively lifestyle. Strategic location and multimodal connectivity boost its attractiveness, making it a preferred investment destination.
2. What are the current property prices in Kochi?
The current property prices in Kochi range from 24L to 3.5 cr, and they vary based on locality, property type, size, amenities, facilities in the neighbourhood, reputation of developer, quality of construction, and more. Prices in Kochi have demonstrated consistent growth, particularly in areas where infrastructure developments have driven higher appreciation rates.
3. How is the rental market in Kochi?
The rental market in Kochi is excellent, particularly for areas in proximity to IT parks, educational institutions, and commercial hubs. You can anticipate attractive yields and faster payback of the invested money, making it a profitable choice for generating income.
4. What are the legal procedures involved in buying a flat in Kochi?
The legal procedures involved in buying a flat in Kochi are property registration, stamp duty payment, and verification of property titles. Seek guidance from a real estate lawyer in the city, to ensure adherence to Kerala's property laws.
5. Are there any upcoming infrastructure projects that will impact property values in Kochi?
Yes, there are upcoming and ongoing infrastructure projects that will impact property values in Kochi – such as the expansion of the metro network, road developments, and Smart City initiatives. These projects will improve connectivity and contribute to comprehensive urban development.
