Kerala - Kochi
Investment in real estate makes sense
Finding it difficult to find ample space to live, more and more number of people are heading for the suburbs and the land developers have also moved away from the city limits to more greener pastures.
The number of people willing to make investments in land is increasing by the day and both individuals and corporate buyers are eyeing Kochi as one of their most sought after destination. Reason, Kochi is a place where one can have the best bet for the money invested. And with every factor becoming quite conducive, both the land developers and builders in Kochi are enjoying the feel good factor. With the industrial scenario changing rapidly, the horizons of Kochi are fast expanding and the growth is getting reflected both horizontally and vertically.
"With the IT based employment opportunities rising in Kochi, the housing sector is bound to grow by leaps and bounds", says a leading Kochi based builder. Truly, the enthusiasm is not only felt in the buying of apartments and villas but also in plots of land. The sudden enthusiasm in buying plots of land can be attributed to the fact that the prices of land have multiplied several times within a very short span of time in Kochi. Many of those who have bought plots in and around Kochi a couple of years back for few lakhs have become millionaires today.
"Of late, Kochi has turned out to be one of the safest places in the country to invest", observes Victor of UXL Marketing. According to him premium townships with standard infrastructures is the latest trend in real estate segment and there are ready takers for the same. UXL Marketing with years of experience in the realty segment has several completed projects to their credit. He is also of the opinion that since the city has saturated it’s the suburbs that’s going to witness hectic activities in the days to come.
According to many Kochi based land developers, small square plots of land ranging from 4 to 7 cents have the maximum number of takers. "Plots of 4 cents always have ready takers in Kochi", says a leading Kochi based land developer. And today, with numerous land developers having surfaced in the real estate scene, the competition has become very intense too. Each and every land developer has their own schemes to offer. Some arrange free trips to their sites while others arrange for home loans and assists in getting a legal clearance.
Nishad of Tercel Developers is also of the view that Kochi has huge investment prospects and as such the land prices are all likely to go up further. Tercel Developers, a relatively new entrant in the realty sector has come up with their maiden project at Aluva and has ambitious future plans to launch apartment and villa projects soon. "We will be announcing two more gated colony projects - one at Pallikkara and the other one at Kakkanad – soon and are also into the construction of customised villas", reveals Nishad of Tercel Developers.
The ongoing project of Tercel Developers is located at Asokapuram near Aluva and is spread over more than 6 acres of land. The project has 67 plots and 10% of the total area is allocated for common amenities like club house, children’s play area and party area. The 6 meter wide tarred road is said to be one of the major attractions of the project. The developers are also making provisions for round-the-clock security, compound wall, provision for water supply, rainwater harvesting and electricity connections for every owner. The project is located quite close to the proposed Seaport-Airport Road and lie in close proximity to places such as KINFRA, Cooperative Medical College, Cochin International Airport and Infopark at Kakkanad.
Projects like International Container Transshipment Terminal and LNG terminal getting streamlined in a row and several such projects set to flock Kochi, the city has hit the big league, feels many. And as such, Kochi is witnessing tumultuous activities in the sale and purchase of land. Already scores of IT majors and other multinational companies are planning to begin their operations in Kochi and are in the lookout for large measure of land which has again resulted in the escalation of land prices.
Aurora Developers is yet another land developer who has made a mark of its own in the real estate scenario of the state. With almost a decade of existence in the industry Aurora has several successful projects to its credit. In the recent past, they have developed a number of residential colonies in cities like Mumbai, Bangalore and Coimbatore. "With Kochi having become a major destination, of late, we are putting much focus to projects in and around Kochi", remarks Dairish of Aurora Developers. Kochi is a place from where we took off with a project called Santi Nagar at Tripunithura way back in 1999 when the very concept of land development and housing colonies was at its infancy", adds Jojus of Aurora Developers.
Apart from developing gated colonies Aurora also undertakes to build villas on being asked by the clients. The ongoing project of Aurora is located at Sasthamugal near Thiruvamkulam. Spread over 3 acres of land, the project titled Golden Enclave has 38 plots and comes with all standard amenities like common boundary wall, rubble foundation for each plot, security, well-designed garden, clear tittles, children’s play area, club house, tarred roads, provision for water and electricity among others.
It is the factors like affordable pricing, abundance of water and good connectivity that are giving the suburbs too many takers. Home finance companies are also contributing their bit with schemes that allows one to buy a piece of land other than buying an apartment or a villa.
The Hindu
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