Real estate in Trivandrum {Evergreen City of India}, the capital of Kerala, is reaching new heights everyday with rapid development taking place across all the segments- residential, commercial and retail. Being the education, commercial and medical hub of Kerala, Trivandrum has huge significance attached to it. At the same time as students move around to the city for higher studies, others come either in search of employment or for medical treatment. Being the best tier-II metro with Information Technology (IT) and IT enabled Services (ITeS) infrastructure and second best in availability of human talent, the property in Trivandrum is thriving in full swing. It has a number of important government offices, business units of corporate bigwigs, hospitals, educational & research institutes and IT campuses. It has all the administrative head offices, many industrial units, development centers and other important institutions. It is a knowledge city that has everything from medicine to music to culture to employment to what not!
People come to the city in large numbers every year for different purposes (education, jobs and medical treatments) and this has elevated the demand for residential property in Trivandrum. The recent growth in the IT industry has encouraged the need for residential and commercial property in the city. It has been attracting buyers and developers from across the country and even beyond with NRIs and foreign investors taking interest in Trivandrum realty sector. Builders, architects and management consultants of national and international repute are seeing fortune in being a part of the swiftly growing real estate market of India.
One of the very exciting trends developing these days between property buyers is that more than being in the metro cities, they desire to settle down in a place that offers all state of the art facilities and convenience. It has been observed that investors are now keen on buying property in smaller cities as realty market of metros near saturation, leaving no room for further development. Furthermore, lower prices become a great puller as the booming Indian property market promises to yield high returns few years down the line. The huge development in Trivandrum in terms of infrastructure assures higher capital and rental values in the coming times.
Top developers like Skyline Foundations and Structures Pvt. Ltd., Muthoot Builders, Heera Construction Company Pvt. Ltd., SI Property, Artech Group and others are actively involved in the developments of residential projects in the city. Raheja, DLF, Leela Group and L&T will be building commercial spaces for corporate giants. The retail scene is also gearing up with mixed use retail developments taking shape in the capital city of Kerala. The face of shopping is bound to don a new look with various leading national and international brands for apparels and jewelry getting ready to step in the markets of Trivandrum.
With the advent of software giants and growing population, an increase in prices of property in Trivandrum is definite to happen. The property rates are by now at par with some of the most expensive cities and growing which makes one of the most rewarding investment destinations. In the face of the rapid construction activities, the spurt in demand is so high that it continues to surpass the supply. In addition to the demand for property by locals, requirement is also coming from NRIs and foreign investors. Since renting flats in Trivandrum fetches good value owing to the migration of students and professionals, investors usually rent their properties. So, it is wise to invest or buy property across all realty segments of Trivandrum-residential, commercial and retail.
