Property prices in Kerala increasing
Non-resident Keralites (NRK) are fuelling Kochi house prices by 30 percent, said P S N Rao, chairman of National Association of Realtors-India (NAR-India), the national federation of associations of real estate agents in 25 cities of the country.
Rao based his observation on the data collected through the network of Kerala Realtors Association (KRA) members in the city. By and large, Kerala is an NRK-driven market and most properties are bought by non-resident Malayalis.
I find the real estate prices of Kochi as high as that of National Capital Region. Solely because of NRKs, the prices here are up by 30 percent, whereas, it should have been as low as that of Nagpur, Coimbatore, Bhopal or Jabalpur.
The sudden upsurge in the property prices are being solely blamed on the non resident Keralites. It is being said that the property price in Kerala should be really low, very low as that compared to Nagpur. However it has not been stated what the Kerala government would be doing in order to bring down this sudden increment of property prices in the city of Kerala.
Source: The Times of India
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