Kochi is a port town with huge unmet real estate requirement; demand exceeds availability at the prime locations. As in all Indian cities, Kochi too is witnessing suburban development - towards Kakkanad in the eastern end of the city. Capital values for residential apartments have shown a rise of about Rs 300/ sq ft over the last couple of months. Plot values currently hover at about Rs 7100/Sq.Yard. However, even more significant than the marginal rise in values is the fact that a very large number of transactions took place during the festive period. The Onam festival being a period that is considered auspicious by the people witnesses a large number of real estate transactions in Cochin. This has led developers and brokers to expect that people are looking forward to invest in real estate big time. Builders Cochin
have analyzed and capitalized on this trend as follows; similar to Diwali, Onam also brings in special offers and schemes, like discounts and easy home loans for the buyers. The special schemes lure the customers to invest in the property and also since the period is considered propitious, people generally prefer to buy during this period.
The commercial as well as residential properties in Kochi are witnessing immense real estate activity. There are two ways of deciding on your real estate purchases in Kochi – the yield on your investment or the affordability of premium property. The yield is slightly higher in the commercial sector and in the residential sector; waterfront properties sell well and command premium prices. The Onam cheer is clearly being extended in Kochi real estate - the property market continues its northward march.
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