Kochi witnesses a boom in real estate

Kochi, Sept 25 : The real estate investors in Kochi are upbeat with a booming real estate industry, as the beautiful backwaters lure many into the real estate.

Being a commercial hub and fast becoming the Information Technology hub, the city now is riveting attention of the mega builders and construction companies who foresee Kochi as a great future prospect.

The real-estate giants have already expanded their wings in the city and are busy constructing super luxury apartments.

The backwaters of Kochi have become the ultimate selling point (USP) for major builders and construction companies.

"A water facing apartment is a premium specifically to NRI's abroad because they would like to live by an area where they see a relaxing waterfront view," said Annie Jospeh, Manager Business Development, Prestige group.

Ranging between Rs. 4,000 to 9,000 per square feet, these waterfront apartments serve as a good investment as they are easily saleable and can get good returns.

The architects attribute the backwaters as the main reason for the real estate boom along with the availability of manpower and good infrastructure.

"The most important reason is the beautiful location of Kochi. We have one of the best airports in the country. Now lots of international passenger visits have started calling on this port," said R. Ajit, Chief Architect and Managing Director,jit associates.

The home loan market in and around Kochi is estimated to be doing a business of almost Rs. 50 Million plus, every month. By Juhan Samuel

ANI