June 23, 2014

Trivandrum Real Estate Market Roundup

Trivandrum or Thiruvananthapuram is the capital of the state of Kerala in India, dubbed as god’s own country. This administrative capital boasts of its progressive developed yet maintaining is quaint and peaceful outlook. We can say that Trivandrum is truly the best of both worlds. Today many individuals not just the residents or natives of Kerala are looking to buy villas in Trivandrum. It is considered as an ideal retirement place with its good infrastructure and facilities coupled with calm and less crowded surroundings. Today many builders are constructing apartments in Trivandrum as retirement adobes or senior citizen friendly homes. This is an emerging market that will help create a whole new segment of housing in the city.

Trivandrum real estate
On the other hand this political heartland of Kerala is also becoming an IT Hub with growing industries. Did you know that India’s first Information Technology Park Techopark started in 1995 is in Trivandrum? Additionally it is in the forefront of space exploration with Vikram Sarabhai Space Centre & India Space Research Organization in suburban Trivandrum. With many such developments and achievements, the city has been well thought out and planned by authorities of the municipal council. Adding to the many important infrastructure developments, Trivandrum and its economy have two new projects that will help the local real estate scenario. The two upcoming developments charted out for the city are:

•    Vizhinjam International Sea Port
•    Thiruvananthapuram Monorail

Being a coastal city, trade and commerce in Trivandrum is heavily relied on the sea way. The VISL (Vizhinjam International Sea Port) is perhaps one of the largest infra projects planned in the state of Kerala. The state government is floating the project with INR 6595 crores of investment and was announced in December 2013. This container transshipment terminal certainly holds the potential of being one of the largest ports in the world. Although there has been a temporary glitch with Chief Minister Oomen Chandy trying to fill the financial gap for funding this project. With the support from the central government, this project might do a ton of good to the real estate in the region. The improved employment and spending power will result in buyers investing in apartments in Trivandrum or Villas in Trivandrum depending on their preference. Areas close to the port like Neyyatinkara will see large scale developments like multi storey apartments in Trivandrum suburbs.

Trivandrum real estate market

The monorail project will is another infra development which will truly change the face of the city. Apart from a good network in the city, the monorail will extend to The Trivandrum Airport and suburbs like Neyyatinkara. Will these developments in hand this is the right time to invest in a property in Trivandrum. Real estate essential consisting of villas in Trivandrum, will move towards larger gated communities and uber luxury multi storied apartment complexes. 2018 will definitely bring about a change in the realty sector in Kerala. Ideally the developers and builders will start acquiring land starting this year so that they have enough supply to map the increased demand that the VISL and IT sector is going to create.