Kochi Real Estate Overview
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Kochi Real Estate Overview

Kochi is known as the Queen of the Arabian Sea for its natural beauty, scenic views, and rich cultural heritage. It is a top choice for domestic and international tourists and has been ranked sixth among the top tourist destinations of India by Nielson. According to McKinsey Global Institute, Kochi is one of the top 28 Indian cities that will be a part of 440 global cities which will make for 50% of the world’s GDP by 2025.

Infrastructure

Kochi has been identified as one of the 20 smart cities by the Ministry of Urban Development, Government of India through a competitive selection process. This means that the city will get a special focus on the development of planned and improved infrastructure. The focus will be on E-Governance, water management, power supply, sanitation, solid waste management, efficient urban transportation, and IT Connectivity.

The city is well connected to the rest of the country and world by air, road, and rail. The domestic and international airports, state and national highways passing through it, and railways give access to all major hubs and cities within the state and country. The network of roads in the city are the principal modes of movement of transport within the city.

Economy

The Kochi Refineries, Kochi Shipping Yard, Eloor Industrial Estate, Kakkanad technological cluster, and the Special Economic Zones are the major hubs for industrial activity in the region. These regions are responsible for the major economic development in the city and account for the presence of more than 450 IT companies and 250 companies from other industries. The demand for housing and commercial real estate is fuelled by these developments. This demand is forecasted to keep growing in the future too.

Real Estate Scenario

There are several reasons for Kochi being the preferred destination to settle down. The city is rated as one of the safest cities to live in India. Living in Kochi is affordable, and the booming IT industry is attracting many professionals to migrate to the city. These factors are responsible for the rapid development of the real estate sector.

The builders in Kochi are developing residential and commercial real estate to meet the growing demand. From budget to luxury apartments, independent houses, and villas, the home buyer and investor have a range of choices offered by leading developers. Most of the flats in Kochi have the best amenities and facilities that meet international standards. 2 and 3 BHK flats in Kochi are the preferred configurations by home buyers and investors.

The pricing for residential homes ranges from ₹2000 to ₹9000 per square feet depending on the locality and type of projects. Some of the major locations are Kakkanad, Edapally, Kaloor, Thevara, Aluva, Panampilly Nagar etc. Kochi is a major hub for real estate and is poised for growth in the coming years.

Why Kochi Is A Top Real Estate Destination For NRIs
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Why Kochi Is A Top Real Estate Destination For NRIs

Kochi is the fastest-growing Tier II city in India. It is also the economic capital of the state of Kerala. Rapid infrastructure and industry development have boosted the real estate market which is witnessing a huge demand for residential and commercial properties. Rising incomes and living standards in the metropolitan have created a steady rise in the demand for luxury living. The city also poses as a perfect blend of traditional and modern cultural lifestyles for its residents making it an attractive destination for an NRI (Non-resident Indian).

Let us look at some important trends in the property market of Kochi:

1. Location

The prime locations that offer luxury flats in Kochi are Marine Drive, Panampilly Naga, Kakkanada, Vyttila, and Kadavanthra. These prime locations offer elite neighborhoods, waterfront areas, and stunning views of the sea and backwaters. They have easy access to educational institutes, hospitals, malls, cafes, and restaurants. They also offer some of the best commercial real estate in the city.

2. Design and Architecture

The luxury flats in Kochi are adorned with modern as well as traditional architecture to suit the tastes of the selective NRI buyer. Luxe apartments, bungalows, and villas showcase elegant designs and contemporary layouts giving them a refined look. High-end interiors with premium materials, fixtures, and fittings are used to entice the NRI elite.

3. Amenities and Facilities

Luxury homes in Kochi offer world-class amenities to keep up with the lifestyle of the wealthy. Swimming pools, fitness centers, clubhouses, spa and wellness centers, multi-car parking, 24×7 security, and concierge services are common facilities that suit the Uber lifestyle.

4. Privacy and Security

The high-end security and privacy distinguish flats for sale in Kochi. The gated communities of these projects have restricted access and security personnel surveillance 24/7. Some complexes also have advanced security features like video intercoms, CCTV surveillance systems, and automatic fire-combating systems.

5. Green and Sustainable Living

Green living and natural resources consciousness are important values that carry special significance for the NRI. Rainwater harvesting systems, solar panels for electricity generation, energy-efficient appliances, and landscaping that prioritizes native plants and conservation are some of the primary features that many luxury projects incorporate.

6. Developers and Builders

The major reputed builders in Kochi offer modern luxurious flats for sale in Kochi to meet the demand of the uber home buyer. They are constantly innovating to distinguish themselves from the competition and win the approval of discerning NRI investors and buyers. Luxurious gated villas, deck-style apartments, personalized services, and heightened security systems are some of the innovative facilities that meet international standards. The luxury flats for sale in the Kochi luxury market are more spacious than budget apartments.

7. Investors

The real estate market in Kochi is seeing steady growth – one of the highest in the country. The different options in home segments help in making smart investment options with the potential for high returns. NRIs interested in Kochi real estate can invest in villas or luxury flats to settle after retirement.

Real estate investment in Kochi can be highly lucrative. After some research on the locations, and property markets and consultation with industry experts, NRIs can invest in property projects without doubts. Reputed projects are in great demand in this city and tend to sell fast. One must be vigilant and quick in investing in good properties.

Wish To Buy A Home in Ernakulam Here’s What You Should Look For
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Wish To Buy A Home in Ernakulam? Here’s What You Should Look For

Ernakulam or Kochi, the queen of the Arabian Sea, is a natural wonder in the south Indian state of Kerala. Known for its scenic natural beauty and as a cultural hotspot, this city is also witnessing tremendous economic growth. The city offers its residents a chance for holistic living with many experiences to explore. Most reputed builders and developers in Ernakulam have recognized the city’s potential as a major attraction for home buyers and investors. They are building excellent residential complexes to meet the growing demand for housing.

It is important to keep certain things in mind while buying an apartment in Ernakulam:

1. Budget

Buying an apartment is a major investment. You may be salaried or a businessman, the first step is to check if you have the funds to invest in the apartment. Set your budget after doing a proper analysis of your finances. If you are taking a loan, consider all the costs involved and budget the EMI payment from your income. For example, if you are checking flats for sale in Ernakulam, you need to check if it is within your budget.

2. Location

You need to check how accessible the location is from your workplace. Does the location have good facilities and social infrastructure? Is it easily accessible to schools, hospitals, shopping centers, and malls? These are important questions to be asked before you think of buying a flat in Ernakulam. The location also plays a major role in determining the costs associated with purchasing the property.

3. Builder/Developer Reputation

The reputation of the builder is an important factor before short-listing projects. The track record of the builder can be researched online. The past project reviews, customer feedback, and ratings will give a proper picture of their track record. If it is a new location, it becomes important to check for the reputation of builders for that area. It’s always safe to select a reputed builder who has successfully completed many projects.

4. Legal Documentation

Ownership title, land use permissions, approvals from local authorities and municipalities, and clearances are important documents to check and make sure the project in question is legitimate. No matter how lucrative an offer may seem or how many perks are offered, if all the paperwork is not in place, then it is better to skip that project.

5. Amenities and Facilities

The amenities usually determine the cost of the property these days. Check and compare amenities offered by different projects within your budget. The amenities that are useful to you should be prioritized. A swimming pool, clubhouse, gym, and garden are some of the common amenities that are offered in most reputed apartments in Ernakulam.

6. Safety and Security

Any good apartment project offers basic security features like a gated residential complex with security personnel and CCTV cameras. These are basic facilities that are expected no matter the price of the apartments. After all, one must ensure the safety of the vulnerable members of their family like children and senior citizens.

These are some of the basic criteria you should consider if you wish to buy an apartment in Ernakulam. One can always look for specific facilities and amenities during their search.

Get in touch

ABAD BUILDERS PVT. LTD. Kochi Office
8th Floor, Nucleus Mall & Office,
N.H.85 (Kundannoor – Petta Road),
Maradu. P.O, Kochi – 682 304.
Ph: +91 0484-4105000,
GSM: +91 9072349966

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about us

ABAD Builders, set up in 1995, is Kerala’s first CRISIL-rated builder and has also acquired ISO 9001. The ABAD group, with a legacy that goes back to 1931, also has interests in seafood processing, hospitality services, facility & project management services and retail.

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