Have you ever given a thought to what drives the property markets around the world? Most people would say it is infrastructure. They are right, in a way, because better infrastructure translates to better conveniences. Schools, hospitals, malls, entertainment, restaurants, etc., all within convenient driveable distance, is a blessing. Having these essential amenities close to home saves time, money and energy. Most people choose to live in dwellings that offer all these and more.
While the above is true of some people, there are others who consider different parameters, when putting their money in property — for instance, the commute time to work. With odd working hours and congested traffic on city roads, buying a home close to the place of work seems a viable option. It saves them precious time, and they can conserve energy, save on fuel cost and are not stressed out before the start of the day, just manoeuvring through the maddening traffic.
That is one reason that Kakkanad and Angamaly are witnessing a real estate boom, and topping the list of locations that people choose to own a property. Flats in Kakkanad are in huge demand, and the locality remains an indisputable king among real estate destinations. Close on its heels is Angamaly, it is unarguably the best location for buying villa properties. Reports indicate that both Kakkanad and Angamaly top the list on the number of projects that are launched and the volume of sales. These two locations are close to where the employment opportunities are available.
Employment opportunities and IT parks
The reason for the influx is, as explained, is, of course, the employment opportunities that the IT parks and other commercial businesses that are mushrooming in the neighbourhood provide to the people.
The Infopark is a state-owned project and home to major MNCs from all over the world. Its development brought phenomenal changes in Kochi, chiefly in Kakkanad, where the park is located. The place has witnessed a massive real estate boom, with several businesses and residential ventures springing up in the area. The former brought in employment opportunities like never before.
Kochi’s SmartCity is also in Kakkanad and right next to the Infopark. It is an IT SEZ park (Special Economic Zone), spread across almost 250 acres. Especially designed for IT and its allied services the project already boasts of the presence of several Fortune 500 companies such as Ernst & Young, Senergia and Baker Hughes that employ a large chunk of professionals. The SmartCity promises nearly 90,000 jobs, in various fields.
KSIDC Business park, Angamaly
Other employment opportunities come from KSIDC Business park in Angamaly. KSIDC is a Government of Kerala run programme, in collaboration with World Bank that assists MSMEs (Micro, Small and Medium Enterprises) to advance technologies that they use and engage skilled workers.
The project aims at improving and bolstering the structure of technology centres and build new hubs that provide sustenance to MSMEs by offering access to state-of-the-art technology, consultancy services and skills. This automatically gives birth to a manufacturing eco-system, which is more advanced and opens job prospects for the young and the skilled. Villas for sale in Angamaly draw huge investments because they make a good investment.
Kochi’s SEZ (Special Economic Zone) spans across 103 acres, in Kakkanad. The multi-industry zone accommodates numerous business units operating in varied fields, ranging from gems and jewellery industries to agriculture and food processing units and engineering, IT, electronics and many more. There are over 160 different units within the zone, employing thousands of people.
All reputed builders have projects
Kochi is emerging as the state’s commercial capital, and with so many industries providing job opportunities the housing sector in the region is also looking up. Homebuyers have a plethora of choices with reputed realtors such as Skyline Builders offering luxury apartments and villas in gated communities.
The flats and villas are luxurious and fitted with modern amenities. The close proximity with the SmartCity, Infopark and SEZ give these properties an edge over others. At the pace with which these economic zones are growing, there is the scope of high returns from these properties, in terms of rentals and resale. It is a safe investment which is bound to give high returns.