Kochi and Jabalpur-Cities with Extreme Possibilities
At present, the real estate market in the mega cities of the country has reached saturation and so the focus has been shifted upon the tier II cities. Kochi and Jabalpur are two such cities that are displaying extreme possibilities. Kochi is known to be the most densely populated city of Kerala, the southern state of India. It is also the financial, commercial and industrial capital of the state. Despite, Kochi has a historic past as the first European Colony was built here. At that time, it was developed as a spice trading centre. Since then, Kochi has been developing as an important business hub and the process is still going on. Kochi is also a famous tourist spot and contributes to the highest GDP growth of Kerala. So, with maximum growth and development on the card, Kochi is grabbing the attention of the real estate investors.
Similarly, Jabalpur is an important administrative and commercial centre of Madhya Pradesh. It is the second most important city of the state and a favourite tourist destination. During the British reign, Jabalpur was developed as a cantonment area and at present it houses four major Ordnance factories of the country. The existing government of Madhya Pradesh is inclined to facilitate growth and development by improving the infrastructure of the city. As part of all these developments, there is huge demand of property in Jabalpur.
Reasons behind Real Estate Boom in Kochi and Jabalpur
- Kochi, being the commercial capital of Kerala is well connected with all the other cities of the state and the country as wellby rail, road and air. It is well served by National Highway 66, National Highway 544, 966A and 966B. The interconnected roads within the city also have facilitated movement. Its proximity to Cochin International Airport has improved connectivity further. To ease the traffic within the city, the Government of Kerala is pondering over constructing an ‘outer ring road’. Besides, the existing roads are going to be widened as part of infrastructure development. The ‘Metro Rail’ has added speed to commutation. Once the construction of the Phase-1 of Metro Rail will complete, it will make the commutation easy and shorten the travel duration.
- Kochi houses the only stock exchange of Kerala (Cochin Stock Exchange), several banking sectors, SEBI office, ship manufacturing industry, spice trading units, chemical and petrochemical industries, and an IT Hub. The scenic view of the green Western Ghat hills and Backwater Lake in Kochi draw huge number of tourists including the foreign tourists every year. With all these facilities around, Kochi is coming up the ladder of real estate development. Builders and developers are showing interest to invest in new projects here to cater the requirements of the flats for sale in Kochi. Observing the possibilities and growth in Kochi, the NRIs are showing interest to invest in real estate here. In fact, the NRIs largely contribute to the remittance of the city.
- On the other hand, Jabalpur too is coming up the steps of growth and development fast since, the government of MP has announced several programmes for infrastructure development in Jabalpur. It has already adoped an ever flourishing industrial economy. As part of infrastructural development, new roads are constructed and the existing ones are widened to 4 lane-highways. The wider roads will improve connectivity and ease the traffic congestion on the roads.
- Like Kochi, Jabalpur too generates revenue from tourism. New hotels are coming up, opening more possibilities for real estate investments. So, the demands of property in Jabalpur have escalated.
- Moreover, both the cities offer a calm and peaceful life to its residents. Away from the din and bustle of the mega cities, people can enjoy a serene and tranquil life here. The surroundings of Kochi and Jabalpur are ideal for that. The NRIs can be rest assured of the safety and security of their kith and kin here.
- With huge demands for flats for sale in Kochi and Jabalpur, the real estate market is enjoying good appreciation rate and the trend is expected to grow further in the coming years. So, there is little or no scope for depreciation. The NRIs can feel safe to invest in these cities while the real estate is booming.
- The government is taking special initiative to protect the interest of the real estate investors. It is always alert of the implementation of Real Estate Regulation Act (RERA).
- At present the value of 2BHK flats in Kochi starts from Rs. 34 lakhs and that of 3BHK flats hovers between Rs. 55 lakhs – 65 lakhs. Again the value of property in Jabalpur starts at a rate of Rs.2000/sqft.
Some Important Things to Note before Investment
- A real estate investment involves a huge amount of money. It seems to be the savings of the entire life to many investors. So, wary steps to be taken before investment. Numerous developers have mushroomed all over the country. The investors must verify the credibility of the investors before taking final decision. The new or small investors are susceptible to unnecessary delay. But with the renowned developers the investors can be assured that their hard earned money has gone to the safe hands.
- It is also mandatory on part of the investors to fix their budget and requirement. They must decide beforehand whether they require a flat in single apartments or within a gated community. The advantage of having a flat in a gated community is its safety and security.
- Judging by the current trend of real estate market, it is the right time to invest in real estate. After investing in real estate the NRIs can let their property for rent and generate revenue from that.
- Consulting the website of housing.com, the investors can get idea about the new real estate projects in Kochi and Jabalpur. Besides, the employees of housing.com provide assistance to search a flat or house as well as finalise the deal. The investors can trust them blindly.