serolae
Academy Student
Joined: 13 Feb 2014
Posts: 1
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 Posted: Thu Feb 13, 2014 10:58 pm Post subject: “Real estate in Kochi: Unprecedented Growth” |
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Real estate in Cochin is a new sector of economy which recorded immense growth beyond our expectations. Boom in real estate sector of Kochi and City’s emergence as a big urban conglomerate are interrelated things. Erstwhile landmarks of Kochi City like fine arts hall, ammonia gas plant, and ancient buildings of Mattanchery paved the way towards modern urban symbols like IT parks as well as star hotels. As flat building and construction became lucrative business areas, many prominent building organizations started their operations in Kochi. Major builders in Kochi are contesting each other with property shows and cunning business tactics to attract more people. Flats and villas engulfed the whole City and swampy lands were converted into prime residential locations.
Global economic meltdown had a negative impact on real estate sector of Kochi, but now it is almost overcome. Large scale migration of people from other states is a specialty of Kochi City and it is often regarded as “Metamorphosis of a metropolis”. This phenomenon had a profound influence on Kochi’s property market which brought millions of investment to the City. Construction of luxury apartments equipped with modern features became the propaganda of builders in Kochi. High living standards and rising property prices in Kochi are possibly due to rising income of middle class and long term investments from NRIs. Real estate market experts of Kochi City predict an annual growth rate of 15% in property market of the City.
“They call it as a City never sleeps
Dreams at large, everything in heaps” |
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