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Real Estate Market in Kochi

 Kochi is considered as the Queen of the Arabian Sea and the Gateway to South India. Originally built by the Portuguese, Kochi, also known as Cochin has a natural harbor, canals, and fishing villages along the backwaters. Situated in the west coast region, Kochi can be regarded as the commercial and industrial capital of Kerala. The real estate market in Kochi is a fast developing one. This is because of the boom in the industrial field. Kerala is largely an agricultural dependent state where industries are also of processing industrial products itself. But, the boom in the processing sector influenced the growth of factories, commercial estates, buildings, and offices. Kochi property especially occupies a special place in the heart of the tourists largely because the scenic beauty of the place is the major attraction to foreigners who often buy vacation homes, guest houses, and retirement homes either within the city limits or within the Ernakulam town. These are prospective areas of real estate investments in Kochi.

 

Areas Rental rates Ownership rates
Palachuvad Vennala Road For 1,000-13,000 square feet- Rs 5,000-Rs 10,000 Rs 12 lakhs onwards
Kakkanad (IT hub) Rs 6,500- Rs 15,000 for 750-1,500 square feet -
Putrhencruz (12 km from smart city) - 3,800 square feet Bungalow, Rs 20 lakh
Ernakulam Town area Rs 2,000- Rs 8,000 Rs 9 lakhs onwards
 
 
On the residential front, the real estate market in Kochi can easily be defined as being affordable. There are few over-priced homes and they are mostly owned by the IT professionals, and ex-army men. Also traditionally acclaimed as the spice trading center that was originally started by the North Indians, still have large communities of Gujrati, Punjabi, and Bengali people settled in colonies. These communities have their own schools, hospitals, and charitable units all over the city. These residential societies in Kochi are also an important part of the Kochi realty. The important places in Kochi that have a large population centered are Mattancherry, Old Dutch cemetery area, Cheena Vila are old settlements. The prices of homes in Kochi are particularly high in the Mattancherry region that once had the Jewish communities prospering in trade and business in Kochi. The ethnicity of the place is what makes this place an important tourist attraction as well. It is also a great commercial district in Kochi. Rents in this area are high compared to other parts of the city. Other expensive areas are around Fort Kochi, the Kochi airport areas, and the Kochi railway station also called the Ernakulam town.
 
Rental property in Kochi
 

Since the real estate market in Kochi is quiet affordable so the rental homes do not have a soaring price as well if not situated in vicinity of the IT-zone that is a fast developing. The rental homes in Kochi are usually availed by students in Kerala, IT professionals, and even tourists who wish to spend a month and more in Kerala. 2 BHK flats with a 650-700 square meter at the IT sites can range between Rs 4,000- Rs 7,000 while in the town it is Rs 3,000- Rs 5,000. Areas bordering Fort Kochi and Cochin Port also have accommodations that are availed by families who are part of either the marine and the aviation sector, and also the fishermen and fish traders. You can see a large variation in rental rates across these regions.