Impact Of Metro On Real Estate In Kochi

Kochi is a city whose history can be traced back to the medieval Chera Dynasty, playing a pivotal role in the spice trade in pre-independence India. It was thereafter consecutively ruled by the Portuguese, Dutch and the British and acted as a major port connecting the mainland to the Gulf and other countries. The city has a diverse and multifaceted culture with its sandy beaches, colonial-era buildings, ancient temples, quaint markets, and its ever-growing art scene Kochi is a city teeming with immense wealth and prosperity, thanks to foreign investments, governmental support and the NRI investment. It has grown to become an epicentre of IT, Retail and Manufacturing in Kerala. This has caused an influx of job seekers from all parts of the world, leading to a rise in demand for apartments in Kochi. Prominent builders have risen to the demand with luxury high rises and modern apartments in Kochi and its suburban location aiming to strike a balance between tranquillity and accessibility to all modern facilities.

The metro rail project was initially envisaged in the year 1999 and launched in 2017. Today it is named the Best Urban Mobility Project in India and is a convenience for thousands around the country. It currently has three lines the first one running from Aluva to Palarivattom which was, the second section from Palarivattom to Maharaja’s College metro Station and the last section from Maharajas College to Thaikkudam. It has become one of the biggest upgrades in public infrastructure that Kochi has seen in recent years. It is conveniently located to all major areas of the city and has therefore become one of the major selling points for Real Estate in the area.

Metro has largely influenced the price of real estate, the value of properties near metro corridors has seen an increase of 15 to 20% in different cities. Pune is a prime example wherein the upcoming metro corridors are expected to cause an increase of property value by 10 to 15%. While the Kochi Metro Phase 1 was just in its planning stage, realtors in the area received increased inquiries for buying land along the area. The property rates also shot up by 20-30%. Areas like Palarivattom, Kaloor, Kakkadand, Aluva, Companypady etc witnessed a rise in the number of residential projects coming up.

Metro has become one of the most effective transportation systems in Kochi. There is a high space occupancy and are high capacity carriers and the journey hours are very less in comparison to road ways. So the residents who live close to the metro station can commute faster to their offices, or other convenience centres like shopping malls, hospitals, other transportation hubs etc. They can travel in air conditioned bogies leaving them with little to no travel-inconveniences or tiredness. The metro stations are also very well equipped and comfortable for the travellers with clean and sanitised toilets, seating areas, luggage checkin, food-counters, and other convenience stores.

The Metro Phase 2 is sought to bring the stress free travelling experience to the residents of Kakkanad. This stretch of 11.2 km was approved by the Kerala Government in the year 2018. It runs from Jawaharlal Nehru Stadium to Infopark II. This will improve the travel experience of the employees of Infopark who has to otherwise rely on the crowded roads to reach their offices, This line will include important stations such as Palarivattom Junction, Kakkanad Junction, Cochin SEZ etc.

In conclusion, the metro has rightly impacted the real-estate market in Kochi. While it has brought a slight increase in the property market it has brought with a ton of convenience to the home-owners who have a convenient and stress-free public transport experience. One can easily get to all areas of the city without owning a personal vehicle. A home built by a skilled realtor can be an excellent long-term investment since its value will rise faster than the rate of inflation. The Confident Group is a highly regarded construction company in Kochi. They are ideal for those looking for flats in Kochi for sale. They offer luxury villas and penthouses as well as budget 2 bhk flats in Kochi. Confident Whitehouse, Pinewood, Pinnacle, White Berry, and Oberon are just a few of the developments from the Confident Group that are perfect for professionals seeking a quiet place to call home. Schedule a viewing of the available flats in Kochi today to realise your goal of having a lavish property near the shimmering Arabian Sea.