Why You Should Invest In Real Estate In Kochi

The real estate market in Kochi, a tier II city in India, might be a little slow compared to metropolitan areas in the country. However, the city is fast becoming a real estate investment haven because of infrastructural developments, implementation of the Kochi Metro, the Smart City initiative, and employment generation.    

Kochi Metro

The first tier II city to have Metro rail connectivity is Kochi. The construction of the 25-km stretch from Aluva to Pettah is underway. Currently, the Metro rail is operational between Aluva and Maharaja’s college. On completion of the project, the city will enjoy improved connectivity, reducing the time taken to travel from Aluva to the various key micro-markets in Kochi. This will greatly change the real estate scenario in the city. The prices of properties located in areas surrounding the Metro stations will definitely see a sharp increase. Further, it is important to keep in mind the fact that Kochi is the commercial capital of the state of Kerala. Now, if you are planning to buy an apartment in Kochi, this is the best time to start looking at the flats for sale in Cochin.

SmartCity

Kochi’s SmartCity is an IT special economic zone and is spread over 246 acres or 99.6 ha and envisages at least 8.8 million square feet of built-up area. It is expected to generate more than 90,000 direct jobs. Phase I of the SmartCity project with 6.5 lakh square feet built-up area started functioning from February 2016. This would create a favourable scenario for anyone looking for a job or investing in Kochi. Creation of more jobs would drive demand for housing. This, in turn, would also drive the rental market as many people would move to Kochi looking for job opportunities. If you already own a house, you might want to consider buying an apartment as an investment. This is the right time to start your search for a 2 BHK flat for sale in Kochi if you have already made up your mind.

Booming Micro-markets

The suburban areas of Kochi – Palarivattom, Edapally, Vytilla, Maradu, Kundannor, Panampilly Nagar, and Kadavanthara, among others – are brimming with small-scale projects. For example, the Kochi Bypass stretch is slowly getting transformed into a big retail hub with fresh and increased development of mall spaces.