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Famous as the “God’s own country”, Kerala is one of the most scenic states, with highest level of literacy throughout India.
Gone are the days when you could see mere huts and small houses in Kerala. Today, the state welcomes you with a huge range of apartments and modern houses, clearly reflecting the majesty of the state.
Reason for Rapid Growth
At present, Kerala is evolving with bustling real estate activities which provide several forms of new housing opportunities almost every day. There is no dearth of real estate construction in the city today.
With the rapidly changing lifestyle of the local residents, Kerala has observed consistent growth and improvement in its real estate industry activities in the past few years. With many leading national real estate players holding property in Kerala, the prices of the residential properties are shooting up. Edappally, Kadavanthra, Marine Drive, Thevara, Kakkanad and Panampilly Nagar are some of the major regions in Kerala that have surfaced as the newest in terms of value and demand.
Where to invest in Kerala ?
Many of the newest Kerala real estate ventures have made way to more housing solutions in the form of many pricey houses and flats. Even the accommodation needs for higher social classes are also being properly taken care of by many popular real estate firms operating in the region, and we have been able to find many relevant big projects for the same. Generally, the houses that are built under those upscale projects are finely designed and well furnished with many lavish accessories.
In recent times, many cities in the state, including Trivandrum, Ernakulam and Cochin, are notably being chased for appropriate residential properties. The growing trend in Kerala real estate in all these major cities have resulted in a sudden escalation in Kerala property rates over the past couple of years.
The most important thing to note is that the prices are constantly soaring, and they are not showing any indication of holding up in the near future as well, bringing a very positive indication for investors. As a result, a huge number of potential real estate builders and developers are entering Kerala to develop commercial as well as residential properties.
The main reason behind the escalation of Kerala property prices is the rapid pace of urbanization in many parts of the state, which is observing the intimidating growth of residential complexes and townships in the regions that were earlier believed to be fit only for agriculture and farming.With its wealthy culture and natural scenic beauty, Kerala has been considered to be one of the prime tourist places in southern India.
Kochi, Alappuzha, Kollam, Palakkad, Kozhikode, Thiruvanathapuram, Thekkady and Munnar are some of the well-known tourist destinations in Kerala which offer many alluring sightseeing opportunities.
A large number of housing projects in all the above mentioned areas are already on the track. However, the place that can be referred as the hot favorite spot in the state when it comes to real estate property development is Kochi, which has created headlines in the recent times with its International Airport privatization, and also the improvement of its sea-port. All such improvements have been able to bring wonders to the Kerala real estate prospects, and the state economy is, therefore, growing at a steady impressive pace. Such colossal projects have forced us to believe that property rates in Kerela are not going to slump any time in the near future.
Property Rates in Kerala
In the following section, we would like to present the Kerala property prices in some of the major places in Kochi city, in particular.
Panampally Nagar – Rs. 1.4K to Rs. 1.8K per square feet
Vytilla, Kadavanthara – Rs. 1.4K to Rs. 1.8K per squarefeet
Marine Drive – Rs. 2.5K to Rs. 3.0L per square feet
Off MG Road – Rs. 1.8K per square feet
Vaduthala - Rs. 1.6K per square feet
Thevara – Rs. 1.5K to Rs.1.8L per square feet
Kakkanad, Tripunithura – Rs. 1.2K to Rs.1.5 L per square feet
Kalur, Palarivattom, Edapalli – Rs. 1.1K to Rs. 1.5L per square feet
The arrival of tons of event management firms and flourishing industrial divisions have played a key role in the transformation of the commercial real estate sector of Kerala.
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