Real estate market of Kochi includes suburban areas
Kochi- The healthy demand of land around the city, majorly suburban areas is pushing the real estate market of Kochi.
It is seen that the many new developments are coming along the suburban areas of the city. According to some realtors, the property value of residential projects in Kochi have recorded an increase of 8-14 percent in past six months.
Demand has specially increased in areas like Kakkanad, Parur, Aluva, Edappally and Kalamasery which resulted in development of new residential projects by developers.
Currently the prices of apartments is between Rs 3,000-6,000 per sq ft. It differs from area to area like its location, accessibility and infrastructure. Seeing the current scenario it is expected that the city would require at least 10,000 flats in the coming two to three years.
Some of the active and prominent developers in these areas are Puravankara, Shobha, Brigade Group, DLF, Prestige and Dubai-based Emaar Groups. Few projects which have added value to real estate market of Kochi are the International Container Transshipment Terminal (ICTT) and Smart City projects. Some upcoming projects like Cyber City, Info Park, SEZ and other business establishments have also propelled people to migrate which in turn resulted in high demand of housing.
The city is currently growing and moving back to IT sector. Few other realtors feel that the property prices of residential projects in major areas have recorded a increase of 10-15 percent resulting more demand than supply. Since the prices of land close to upcoming IT project seems profitable, there is also an increased amount of interest from NRIs and HNIs.
With developments happening across all the sectors, the city is showing enough growth potential which takes real estate to new heights along with revival of economy.
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Kochi, Kochi projects, Kochi Real Estate, Kochi real estate market, projects in kochi, Realty News, residential projects in Kochi
[...] Real estate market of Kochi includes suburban areas [...]
[...] Real estate market of Kochi includes suburban areas [...]
[...] Real estate market of Kochi includes suburban areas [...]
[...] Real estate market of Kochi includes suburban areas [...]