News & Events

Real Estate Boom Awaits Kochi

With the commissioning of the International Container Transshipment Terminal(ICTT) at Vallarpadam, the prices of land and buildings  are all set to skyrocket as it will generate more direct and indirect employment opportunities.

Kochi will become a hub for logistics professionals from India and abroad when the activities of the port increase in and around kochi.

It is expected that when the ICTT becomes fully operational,it will create over a lakh jobs ,directly and indirectly in Kochi.

Najeeb Zakariah, president of the Confederation of Real Estate Developers Associations of India, (CREDAI),kochi said that creation of more job opportunities will have multiple impacts in the economy of Kerala,especially Kochi. Apart from housing, hospitality and retail sector will have a direct impact with more services being offered from Kochi.

He pointed out that around 40 to 50 percent of the direct employees will prefer to own a house and others will be staying in rented buildings.The need for Kochi will be 10,000 apartments a year for the next four years.

CREDAI officials said that the development will be focused in and around Vallarpadam,especially at Kalamasseri,Aluva and Vypin areas.It is pointed out that the present trend is to buy a two bed room apartment of 1000 to 1200 square feet.

There are two big projects coming up near Vallarpadam and five more are expected in six months.




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