In the recent time, the real estate scenario in Kerala is in its peak point. Real estate in Kerala depends on the passage to its socio-economic scenario. Today Kerala, especially Kochi is a goldmine for real estate development for developers. Real estate industry is the main industry which is adding a lot to the economic system of Kochi. Many developers are entering into this market every day and achieve their goals with huge profit.
To encourage the development in Kerala, the agencies as the Kerala State Housing Board, Rural Development Department, Kerala State Co-operative Housing Federation, Agricultural Bank and Kerala State Development Corporation – are implementing housing programs in the state. In Kerala property market, the Cochin real estate developers have a unique benchmark. The Goshree Island which was just a source of migration to the main land has now boom time with major infrastructure projects and real estate investors shown increasing interest to buy land here.
In Kerala the geographical location is the main elements for the real estate development. Besides with the rapid popularity of nuclear families, demands of real estate in Kerala have grown sharply. So you can expect the rapid development in this sector.
The tourism has an important impact on the real estate business in Kerala. If we compare the total count of the foreign visitors who came to India, Kerala enjoys the major share of it. This is because Kerala is popular for her beaches, backwaters, mountain ranges and wildlife sanctuaries.
Another important facts which depends on the development of real estate is the NRI money. Top builders such as Amv Groups DLF, Unitech, SRK Group, Apple a Day Properties and Abad Builders have either delayed, downsized or shelved their projects due to dwindling interest among NRIs, who have been driving up property prices in God’s own country about 20% every year.
Growth and development in IT and IT related services in Kerala are the other reasons for the outstanding growth of the real estate in Kerala. After tourism and NRI income, IT is the next major source of income in Kerala. There are a large number of investments made by the multinational companies.
If we invest our money for purchase the buildings, then it will be an additional asset. If we don’t want to sell that property, we can get rent from that property.
We can say that the real estate business in Kerala is in its shining way. The real estate agents feel a significant profit in their balance sheet. Therefore in future you will get the high picture of real estate in Kerala.