IT personnel moving to Kochi for a short assignment or for the long term prefer studio apartments and one-bedroom apartments to large ones with two and three bedrooms. This is for a variety of reasons, including ease of maintenance and affordability. The concept of studio apartments is still in its infancy, but with demand set to increase, you can expect to see more studio apartment projects in Kakkanad in the near future.
Kakkanad lies in the suburbs of Kochi. From a sleepy hilly village until around 10 years ago to one of the hottest property areas in Kochi, Kakkanad has been transformed beyond anyone’s imagination. The rampant expansion of the Kochi metro area has now limited further possibilities for development in the city and this is another reason, why commercial enterprises and property developers are focusing on suburbs like Kakkanad. Property developers are also well aware that since the major IT-based business expansions are located in this area, residential property in Kakkanad is even more attractive and the demand is higher than in other areas. Kakkanad’s pollution-free environment, compared to other parts of Kochi and good drinking water are the other reasons cited for the boom in residential property development there. In 2007, the property appreciation rate in Kakkanad was a stunning 60%! Easy access to Kakkanad from both Kochi city as well as the International Airport makes it a very sought-after location. Most leading developers have at least one project in or around Kakkanad.
Moreover, with city administration providing the investors with the basic infrastructure like power, international bandwidth and urban transportation, industry experts expect a capital appreciation of around 12-15 per cent in the next two-three years. All these factors are contributing factors in creating a congenial environment for making Kerala real estate one of the most sought after the fastest growing cities in India.
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