Kochi is all set to become the next preferred real estate destination in India, with mushrooming luxury flats for sale in Kochi finding several investors and buyers. Small nuclear families have even started preferring luxury villas owing to the availability of affordable villas for sale in Kochi.
Here are a few reasons why there is a real estate boom in Koch
1. Inclusion in Top 20 Smart Cities
Kochi ranks 5th in the top 20 cities identified by the Govt of India. An investment of almost 2000 cr is expected for infrastructure development and pan-city solutions. The ‘Smart City’ tag will boost prices favoring the real estate developers who are acquiring land in and around Kochi.
2. First Tier II city to propose and commission a metro rail
With successful commission of part phase I from Aluva to Maharaja’s College, it is a new feather in the cap of Kochi. Areas like Companypady, Vytilla, Kalamassery and Ambattukavu will be the main beneficiaries and witness of increased land prices and demand in the coming years.
3. New International airport terminal
Cochin International Airport’s new international terminal inaugurated in 2016 has boosted foreign trade and tourism, elevating the real estate market to a whole new level.
4. Venue for submarine cable landings in India
Kochi is one of the venues for submarine cable landings, boosting IT and ITES industries. This eventually increases demand for residential, retail and offices spaces in the city.
5. Home to India’s first Global Hub Terminal
The International Container Transshipment Terminal at Vallarpadam is a premier port gateway to South India thus opening up trade opportunities and industrial developments.
6. Tourism growth
The steady increase in demand for hospitality related real estate holdings like hotels and resorts owing to continued tourism growth is another main reason for the real estate boom in Kochi.