Real Estate Prices Rise In Kerala

Foreign investment is pouring into India driven by the 30% plus growth rate in the $12 billion real estate market. The real estate in India is estimated to grow to $90 billion in 10 years by analysts.

Industry sources say that roughly Rs. 135 crores is being invested in Kerala apartment and flat industry every month. Such growth is being driven by returning NRIs as well as growing employment in the IT sector. An average flat in Thriuvananthapuram costs Rs. 25 lakhs while in Kochi, per sq. ft. prices are in the range of Rs.2000 -2,500. The growth in residential demand is benefiting all realty builders alike.

The demand for real estate in Kerala is largely driven by the growth of IT and BPO sector. Not only has this increased the capital and rental values of commercial property, it has also fuelled a demand for housing for its workforce.

Growth in every area including realty development is therefore certain for the next few decades at the least. Cochin is converting into more of a cosmopolitan city. Liberalized government policies, improved transportation and telecommunications system, chain of hotels, retailers, etc are some of the factors paving way for increase in prices for real estate in Kerala.

Source:littleindia.com