Kerala is known as God’s own country for its scenic natural beauty and a destination for unique experiences. It is one of the most popular tourist destinations in the country and attracts thousands of visitors. At the same time, the state is emerging as an important destination to settle and invest amongst the south Indian states due to rapid growth in commercial activity.
The state has many natural port cities that facilitate trade. The many development efforts by the government have boosted the growth of IT and other industries. These factors have led to the rapid development of residential real estate in Kerala.
Kochi
Kochi ranks 5th amongst the top 20 smart cities in India chosen to receive funding for pan-city solutions and infrastructure development. It is poised to become a hot spot for real estate development backed by job creation in the IT industry, a metro-rail for intra-city connectivity, an international airport terminal, port infrastructure, and investments to boost the hospitality sector.
The rapid development of Kochi has caused a sudden increase in population with the influx of people from all over the country. A huge demand for quality real estate is being met by developers in Kerala. Apartments, flats, villas in Kochi are on the rise.
According to RBI’s housing price index, the commercial capital of Kerala saw the highest appreciation of housing prices in the year 2022-23 compared to all other cities in the country. The leap in housing prices was 2.79% at the national level, whereas it was 7.15 %in Kochi. The city has emerged as an ideal destination for investment in residential properties and builders in Kerala are making the most of the opportunity.
The most attractive localities for owning a residence in Kochi are Aluva, Edapally, Kadavanthra, Vazhakkala, Thrikkakara, Palarivattom, Kaloor, Kakkanad, and Vyttila. These areas are known for their rapid development offering modern amenities and a luxurious lifestyle. Easy access to essential infrastructure and convenience makes them ideal for home buyers and investors. These areas offer good schools, colleges, hospitals, malls, and shopping centers. Developers offer residential apartments in Kochi in all configurations.
Other important cities to consider are:
Trivandrum: The state capital is attracting keen interest due to rapid urbanization and infrastructure development.
Thrissur: Its proximity to Kochi makes this lush green city ideal for settling down.
Kozhikode (Calicut): Known for its rich cultural heritage, nature’s abundance, and modern facilities, Kozhikode is a desirable location for buyers and investors.