Kochi, earlier known as Cochin, is the commercial capital of the state of Kerala. It is considered to be the second mainly significant city on the western coast of India. Kochi is widely popular as the 'Queen of the Arabian Sea' & is situated in centrally in Kerala. This city is set on a cluster of islands amidst stunning landscapes & exotic beaches. It offers a perfect combination of nature's beauty with its beaches & backwaters; historical richness with its palaces, forts & old churches and a metropolitan feel with its towering buildings, magnificence homes & business centers. The beach city, Kochi is one of the hottest tourist destinations of the country. The tourism hub of Kerala, Kochi is one of the largest Indian cities & a metro with excellent connectivity by air, rail & road. Cochin provides all the outstanding facilities of a big convenience city from attractive housing & commercial setups to speedy medical & banking amenities to high standard hotels, education and food conveniences in fact, it is most advanced city of India with 100% literate workforce that is highly skilled & productive. Beginning to rank among the important IT/ITES centers, Kochi property is witnessing a boom in its real-estate sector.
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The urbanized culture of the city is another main factor instrumental in taking its property market to new heights. The strategic location of Cochin on transnational trade corridor also makes for a favorable element in boosting its real-estate market in addition to the culture & location, superb communication network & easy availability of efficient employees are extra significant advantages for the city. Also, there are many infrastructural developments taking place across the region such as Metro Rail project/New Bus Terminal/The LNG Terminal/Port-based Special Economic Zones, up gradation of city traffic system & various others. The residential sector of Kochi is developing exponentially due to high demands from NRIs & property investors. Almost two million NRIs living abroad are making huge investments in the housing spaces of Cochin encouraging the trend of luxury & deluxe apartments. Gone are the days when people would spend an entire life in an age old home without ever wanting to leave it. The generation of today wants to buy the mainly comfortable & most comfortable spaces that conspicuously reflect their class and style.
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-Rising disposable incomes of the middle class.
-Reasonably priced properties available quite easily
-Housing of migrants working with various companies in the city.
-The ongoing expansion of Indian corporate, MNCs and IT/ITES Parks.
- Long term investments from NRIs into real estate projects.
- Reviving of market much sooner than anticipated.
The port city of Kerala, Cochin has been ranked as the second potential city for investments in IT/ITES sector by NASSCOM. The mammoth project 'Smart City' proposed by Dubai Internet City (DIC) will bring in the investment of whopping Rs. 1500 crores.
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