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 investors.
Let us look at some important trends in the property market of Kochi
1. Determining Requirements
We always have a picture of the residence we aspire for. It is important to define every part that will make up the whole. The size of the luxury property, design specifications, interiors and architecture, styling, location, and budget are some of the key considerations. Many renowned developers are offering flats for sale in Kochi in various styles and designs to choose from.
2. Real Estate Agents and Experts
Buying a residential property becomes much easier once we engage with a real estate agent who specializes in luxury properties. The agents have an in-depth knowledge of all the projects in Kochi that offer luxury residences, exclusive listings and offers, and process of the complete buying process. Once they know the requirements, they can suggest properties that fit your needs like the location and amenities.
3. Online portals and resources
Anyone who is looking for a luxury residence can easily find one with their specifications just by clicking a few buttons. Most online portals list properties in specific locations with basic amenities and budgets. Online portals also provide information about many projects in the location and the various amenities and facilities available in these. One can easily find flats in Ernakulam that suit their requirements.
4. Developer Reputation
When looking at purchasing a luxury apartment, the reputation of the builders in Kerala becomes the most important. One should check the past projects of the developer, construction quality, amenities provided, track record, and delivery timeline. Luxury projects are high-value transactions, and the brand and reputation of the developer are crucial. The customer reviews and reputation in the market indicate these factors.
5. Due Diligence
A thorough due diligence process includes verifying legal documentation like title deeds, building approvals, and clearances. Legal experts can be appointed to make sure that the process of due diligence is properly carried out.
Investing in luxury apartments is a major financial and personal decision. One must always be sure of all the decisions taken at every step of the process before finalizing the purchase.