Kochi will soon emerge as the top mega city of India. As per a recent report by JLL, Kochi has a very promising future.
JLL, the professional services firm that specializes in real estate and investment management, recently conducted a study on 45 destinations including metros and non-metros from all major states across the country. In the study, Kochi emerged with a promising future due to its strong economic fundamentals, current and proposed infrastructure and growth in real estate in the last few years.
“Continued NRI interest followed by the Kerala government’s signing of lease deed for SmartCity project and operation of international container transshipment terminal has given a new lease of life to the real estate industry,” ET quoted Ramesh Nair, CEO and country head of JLL India, as saying.
Nair further said that Kochi is also the first tier-2 city to have metro rail connectivity. In fact, Kochi is the only city to have an airport, seaport and metro. The study was based on the key parameters like socioeconomic momentum, enhanced connectivity infrastructure, and high-value indicators.
Kochi has definitely seen a dramatic growth over the past decade. The economic capital for Kerala has always been a center of trade and commerce owing to its strategic location along shipping routes. Over the past few years, the city has also gained its recognition as the IT/ITES destination along with its port activities leading to a spur in commercial real estate development.
Following are the prime areas witnessing different major real estate:
- Corporate offices & Retail developments:
CBD Area, NH Bye-Pass Road, Seaport Road,Kaloor-Kadavanthra Road, MG Road, Marine Drive, Banerjee Road, SA Road
Kakkanad and Kalamassery which are located in the peripheral areas.
- Industrial Development & Logistics/ Warehousing:
Kalamassery, Varapuzha, NH Bye-Pass Road, Tripunithura, Aluva, Eloor and some parts of NH-17.
Marine Drive extension, Panampally Nagar, Kadavanthara, Maradu, Tripunithura, Edappally, Kaloor, Palarivattom, Panangadu,Thevara,Kakkanad, Aluva, etc. Whereas villas are confined to the peripheral region like Aluva, Kakkanad, Tripunithura, Vennala, Thevara, Maradu, Kaloor etc.