Sunday, October 14, 2007

Real estate scenario in Kochi

The queen of Arabian Sea is growing as the tourism and business hub of Kerala. Earnest efforts of the Kerala Government in the tourism sector is also a decisive part in Kochi's rapid growth. The city's developments are controlled by the Greater Cochin Development Authority(GCDA).
NASSCOM(National Association of Software and Services Companies ) rated Kochi as the secondmost internet city for IT services in India. 15Gbps bandwidth under water cables are passing through Kochi enables the uninterrupted dataflow. Large scale investments in Kochi are
  1. Infopark in an area of 100Acre located close to the Special Economic Zone
  2. International container transshipment terminal at vallarpadom. This is a joint venture of Kochin port and Dubai port international.
  3. A Special Economic Zone is coming at Kakkanad by a joint venture of Cochin Port Trust, Cochin International Airport Limited(CIAL) and Cochin SEZ.
  4. Cochin International Airport is going to expand at a cost of Rs.35 billion. It is the first airport in India built within the public-private participation.
  5. LNG terminal by petronet planning to commission on 2009.
  6. Negotiations of a fashion city in Kochi is progressing, this city include Garment Technology and fashion technology Engineering College.
  7. Smart city -This high end project is by Dubai Internet City. The 1000Acre IT project is expected to create 5Lakh job opportunities in companies. The smart city will cover 6.1million sq.ft. of built up space.

    Tourism sector and NRI remittance are also decisive parts in giving such a boom in Kochi Real Estate business. More IT opportunities creates more business fields directly and indirectly. Naturally the need for residential segments also increases. Due to the constraints in space the town is spilling into the nearby areas and almost all famous builders are concentrating in apartments. Almost all the royal kovilakams in Thripunithura had tranformed into high end flats. Thripunithura, Kakkanad, Chottanikkara , Maradu are also developing into satellite townships. In Maradu Shobha Developers and Abad is coming. Thripunithura, Kakkanad and Alwaye are best suit to your investment. The growth in the real estate field prompted the national level builders to invest in Kochi. L&t, Sahara Infrastructure and housing, Unitech, Puravankara, Prestige group, Brigade group,Emar-MGF and Sobha Developers are some of them.

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