IT development pushing real estate growth in Kochi
Kochi is seeing spurt in the real estate sector, owing to IT developments. The city has seen launch of new residential, IT, retail, commercial and infrastructure projects over the last few quarters.
The residential values of prime localities witnessed a 12-15 per cent hike in values, while rental recorded a growth of up to 25 per cent in the past quarter.
IT projects such as Infopark in Kochi, and the first IT Special Economic Zone (SEZ) in Malabar, the UL Cyberpark, Kozhikode are few of the main projects which have acted as catalyst for real estate growth in Kochi.
The areas attracting prime areas are Kakkanad, Airport Road, Vytilla, Aluva and Kadavanthra. The capital values of apartments vary from Rs 2,500-Rs 4,000 per sq ft. Analysts have predicted that the values are expected to rise in next 6-8 months.
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