Realty Rising in Kochi II
Shobha’s 5000 crores project in Kochi envisages 7 million sq feet of IT space and jobs for 70000 people.
DLF investing 800 crores with an estimated 7 million sq feet of IT space, again jobs for 70000 people.
Veegaland invests 770 crores for an amusement park in Kochi.
If Kochi is the commercial capital or the computer capital of Kerala, Trichur is the education capital, with 3 medical colleges and 7 engg colleges. Shobha’s 850 crore project will be nearing completion within a couple of years. Lulu’s 150 crore project and a project worth 300 crores for 40 flats of more than 14 floors – all these are pushing up realty prices. In Kochi, in Vallarpadam,where the ICTT is going to be commissioned, the price is Rs 20 lakhs per cent and in Puzhakkal padam, where the Shobha project is in full swing, it is 10 lakhs per cent. With FDI permitted in realty, and with HDFC & ICICI Property Funds in full swing, prices are bound to go up !
Trichur, the Satellite City
Even though Trichur does not get the $10 billion investment which Kochi is getting, she will develop along with Kochi. As Kochi is saturated with land to live becoming scarce, people will flock to the education capital, Trichur ( which already has 3 medical colleges and half a dozen engg colleges ). Trichur will develop as a satellite city to Kochi.
Because of this factor, real estate prices are shooting up. You cant get a cent of land for less than a million rupees !
Realty prices skyrocketting !
Real Estate prices are shooting up in Tier III cities as well, let alone Tier I and Tier II. In Trichur, in Puzhakkal padam, where the Shobha International City is going to come, it is 1 million rupees per cent ( 420 sq feet ). The Shobha project is 850 crores.
In Guruvayur, the Temple City, it is now 1 million rupees per cent. The prices of shops has skyrocketted with 200 sq feet shops commanding 5 million rupees.
The influx of foreign funds due to Globalisation is said to be the cause behind this real estate boom !
By: G Kumar
DLF investing 800 crores with an estimated 7 million sq feet of IT space, again jobs for 70000 people.
Veegaland invests 770 crores for an amusement park in Kochi.
If Kochi is the commercial capital or the computer capital of Kerala, Trichur is the education capital, with 3 medical colleges and 7 engg colleges. Shobha’s 850 crore project will be nearing completion within a couple of years. Lulu’s 150 crore project and a project worth 300 crores for 40 flats of more than 14 floors – all these are pushing up realty prices. In Kochi, in Vallarpadam,where the ICTT is going to be commissioned, the price is Rs 20 lakhs per cent and in Puzhakkal padam, where the Shobha project is in full swing, it is 10 lakhs per cent. With FDI permitted in realty, and with HDFC & ICICI Property Funds in full swing, prices are bound to go up !
Trichur, the Satellite City
Even though Trichur does not get the $10 billion investment which Kochi is getting, she will develop along with Kochi. As Kochi is saturated with land to live becoming scarce, people will flock to the education capital, Trichur ( which already has 3 medical colleges and half a dozen engg colleges ). Trichur will develop as a satellite city to Kochi.
Because of this factor, real estate prices are shooting up. You cant get a cent of land for less than a million rupees !
Realty prices skyrocketting !
Real Estate prices are shooting up in Tier III cities as well, let alone Tier I and Tier II. In Trichur, in Puzhakkal padam, where the Shobha International City is going to come, it is 1 million rupees per cent ( 420 sq feet ). The Shobha project is 850 crores.
In Guruvayur, the Temple City, it is now 1 million rupees per cent. The prices of shops has skyrocketted with 200 sq feet shops commanding 5 million rupees.
The influx of foreign funds due to Globalisation is said to be the cause behind this real estate boom !
By: G Kumar
Loading ...