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Kochi or the erstwhile Cochin is a famed harbour city known as the ‘Queen of Arabian Sea’. It is the commercial capital of Kerala with a vibrant real estate property market.
A slew of new projects have set the property market of Kochi in a boom phase. The ‘Smart City’ project of Dubai Internet City (DIC) in 10 million sq. ft.; International Container Transshipment Terminal; construction work on the Kochi Metro Rail Project have led to an unprecedented rush in demand and real estate activity in the city.
The hot spots of Kochi’s real estate are Kakkanad, Panampilly Nagar and Marine Drive followed by Thevara, Vytilla, Kaloor, Palarivattom and Thripunithura. Apartment rates in Kochi vary in tandem with the facilities and location. The property rates in super luxury apartments of Kochi are in the range of Rs 1 crore. Sea-facing Marine Drive, Broadway and M.G Road are the hot commercial locations commanding maximum land rates and lease rates.
According to the analysis of a real estate agent, “Kochi will require at least 15,000 flats in the next 3 years. This is in addition to the expected demand on housing from Cyber City in Kalamassery and the Phase-III of Infopark when commissioned”.
Among the premium luxury residential projects, Sahara Prime City Ltd (SPCL), the real estate developer and builder arm of Sahara India Pariwar announced the launch Sahara Grace residential complex, last month.
Spread in 15 acres of prime land at the seaport- airport road in Kakkanad, Sahara Grace has a mix of apartments and penthouses targeting the high income group. With a total built-up area of 20 lakh sq ft in residential area the project 2 to 4 Bedroom Apartments; 3 to 4 Bedroom Duplex Apartments and Penthouses.
A helipad, central water body with artificial lake, gazebo and jogging track, multi-storeyed car parking, multi-level security system, piped cooking gas facility, in-house fire control system and rain water harvesting system are the highlights of this premium project.
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