The action in real estate industry is now slowly shifting to smaller cities thus taking off the pressure from metropolitan cities like Chennai, Bangalore and Kolkata. The scarcity of resources, unaffordable property prices, shortage in natural resources and high cost of living are forcing developers and investors to focus on Tier II cities like Kochi, Vadodara, Jamshedpur and Coimbatore.

The major factors driving real estate growth in Tier II Cities are:

• With India’s urban population increasing, demand for housing and retail properties is also increasing owing to high disposable incomes and more nuclear families. For e.g. Villas in Kochi has become an extremely popular housing option owing to the high luxury amenities and proximity to industrial hubs.
• Cities like Coimbatore, Kochi, Vadodara and Surat have made huge progress in the industrial sector. They have become the hub of e-commerce owing due to availability of cheap skilled labor and lower cost overheads.
• Affordable land and labor is available in these smaller cities. Lower land prices leads to affordable homes and residential units. For e.g. flats in Kochi and Coimbatore have been hot selling and are seen as a major investment option within the buying capacity of a nuclear family.
• Government policies and physical infrastructures like metro, airports and express highways are rapidly fueling the growth of smaller cities. With more people migrating to smaller cities for work, the demand for housing and office spaces is increasing.

The future of Indian real estate sector lies in Tier II cities, especially after the introduction of Mission Housing for All by the Central Government. This mission helps smaller cities to expand closer to metro cities thereby encouraging planned construction and development. However the key to such a progress is provision of state of art infrastructural amenities and better planned development to attract a prospective buyer.

Kerala has been known for long as an attractive tourist destination. But over the years Kerala has also emerged as a hotspot for property investment. This is primarily due to the continually improving state of the economy of Kerala, which has gone beyond only tourism. For both businessmen and for job seekers, Kerala has emerged as a very attractive destination to live in, work, and also plan for their future by investing in property. Let us look at two examples of property hotspots in Kerala.

Ernakulam is the commercial capital of Kerala. It is the mainland business district of the historical town of Kochi. Ernakulam is buzzing with entrepreneurial activity, and is the commercial and business capital of Kerala. Cochin Port and shipyard as well DP World have fast tracked the commercial activity in this city. Tourism still continues to be a big draw, and most tourist packages for Kerala start and end at Ernakulam, whether the tourist is arriving by train or plane. It is no wonder that the Lulu Shopping Mall, one of the biggest in Asia, is situated in Ernakulam. Ernakulam is part of the North South highway corridor, and therefore enjoys superb connectivity to other parts of the country, and now even has its own metro railway system. It is no wonder, then, that investors are rushing to buy Flats in Ernakulam or Villas in Ernakulam.

Another upcoming destination for potential property investors is Kottayam. It is the administrative capital of the state of Kerala. It is commonly called the city of three Ls – Letters, Latex and Lakes. It has been the center of Malayali literature for ages, and is also regarded as the hub of the Kerala rubber industry. The buzzing commercial activity in Kottayam makes it so attractive to property investors. Therefore, purchasing Apartments in Kottayam is a sound investment decision.

Over the last few years, Kochi has been on the spotlight for major real estate development. Numerous local builders and real estate firms that have pan-India influence have chosen to set up their projects in different parts of Kochi. This has also opened up great options for people who are looking to buy apartments in Kochi. There are many factors that drive the real estate market of Kochi forward. These include ambitious and visionary Smart Cities Mission, great infrastructure technology, a well developed Metro corridor, tourism and airport, and seaport are all likely to improve the quality of life for people in Kochi.

In the light of such developments, it has become an incredibly attractive idea for people to come and live in Kochi. Kochi has got numerous neighborhoods that are just perfect for both nuclear and joint families. Even if a person is looking to stay alone for work or other purposes, Kochi has a lot to offer. The neighborhoods in Kochi offer excellent access to modern day amenities and well-developed infrastructure that can make life really comfortable. The flats in Kochi are designed to provide people with a world-class living experience. Not only they feature some of the finest facilities and amenities but they also offer a range of other services like interior design support and rental support.

Apart from the location highlights, Kochi offers a wide spectrum of job and business opportunities for professionals and common people. Transportation facilities through road, rail, water, and air channels made Kochi easily accessible from anywhere and it resulted in the development of industries and infrastructure around the area. Nowadays, Kochi is one of the rapidly developing cities in Kerala and a favorite living destination among Keralites.