Kochi is the ‘happening place’ in Kerala, being the commercial capital and land prices have been increasing not in a steady upward curve but in leaps and bounds. The land value in various part of Kochi is directly linked with the plans for new projects-IT park, Vallarpadam Container Terminal, and Airport etc. It is estimated that the future will witness huge investments on infrastructure development for highways, shopping malls and housing projects, which will sent the price of land spiraling.
Genesis: Kochi is a cosmopolitan city modeling itself on the lines of Bangalore and Mumbai. A few decades back, the commercial centre in Kochi or Ernakulam, as it was then called, was restricted to Broadway and M.G.Road. The city started spreading and far-flung areas like Kakkanad have now become part of Kochi city with residential apartments coming up all over the beautiful hillocks in this area. Business establishments have started relocating their showrooms and outlets on the sides of the Trivandrum bye pass road between Edapally and Vytilla. The construction of the Vypeen bridge has opened up new areas for residential and commercial construction as Kochi has become easily accessible from Kochi.
Why invest in real estate?
People have now realized that investment in the stock market, with its ups and downs has its own related problems whereas bank deposits and mutual funds are restrictive in returns. Investing in real estate is a guarantee that the returns at the time of disposal will definitely be higher making it is a very safe mode of investment.
The Flat culture:
Flats have become popular due to the safety and security available for flat dwellers. There is an element of the historical ‘tharavadu’(the joint family system of yesteryears) in the concept of flats with the role of the ‘karnavar’ (seniormost male member who word is the law in the ‘tharavadu’) whose role has been taken over by the Building society in each flat complex. In addition to security, the tenant need not worry about payment of electricity, water or other maintenance bills which are taken care of by the society. All external maintenance is also done by the society. Many of the builders provide utilities like centralized gas, health club, waste chutes and driver’s rooms which are value additions. The paper work involved during the purchase is also minimal and the biggest boon is that one need not worry about the problems of construction-labour, purchase of material, permits and licenses etc.
Independent houses:
Independent villas and houses are expensive but if one can afford it can make you feel like a king. There are many builders who carry out construction on contract basis and with totally transparent terms and conditions. This helps avoid the headaches one would have to face while building homes.
