It is true that one find solace when they get back to the roots, but the joy increases with manifolds when the roots are rampantly developing. Malyalees living abroad personify this situation, as the commercial hub of their state Kerala, Kochi has become the eye-candy for the realty market.
With the thriving economy, change in the lifestyle and recent metro rail project, Kochi is now the target of many big realtors.
According to trade analysts, investment in the Property in Kochi is going to be the wisest decision as the prices with the big upcoming endeavours are on the rise.
Let’s contour the advantages of putting your money in flats in Kochi:
Metro Rail Project: The biggest and the most conspicuous reason for the realty market to rise and be happy is the Metro in the city. As per a newspaper there would be a 60 per cent annual growth in the market, which will steady the real estate market in the city.
Contemporary Designing: With the changing times the outlook of locals have also changed. They demand or opt for the flats that are well-equipped with modern amenities. Realtors have tightened their belts to belt out some exotic and modern flats giving into the demand of their prospective buyers.
Surety of growth: With rapidly growing economy, and mammoth projects in the pipeline, investors are assured of multiplying their money, when invested in flats in Kochi. One must also consider the resale value of the flat. Be futuristic, calculate and foresee the developments and its effect on the prices of the property after atleast five years. However, apparently there would be a spurt in the prices but one must be cautious before putting the money at stake.
Return of Diaspora: In the anticipation of return of NRIs, realtors also envision a growth in the demand for the flats in Kochi. Many Diasporas also invest their money in the real estate in order to get returns in the form of interest or rent.Increasing job opportunities: As there are rapid industrial growth, developments, and announcements of many forthcoming projects, the real estate market is all smiling. Due to such openings and start-ups, there is a market inviting plethora of jobs, resulting in a paradigm shift in the economic migrants. This inevitably will lead to an augmentation in the demand of an abode in the city, thereby an upsurge in the real estate market.
All this surely gives a picture of advancement, expansion and prosperity, a win-win situation from all the sides. Investment convincingly looks profitable.
According to us, if you are planning to purchase, best areas to scout for flats in Kochi can be Pallarivattom, Edapally, Vytilla, Kalamassery and South Ernakulam.