Kerala, which has been recognized for its high human development but low economic growth, is now displaying a new phenomenon. Growth has picked up the pace since the late 1980s, as a result of economic improvement and a large inflow of remittances. The modern phenomenon of migration from Kerala to the Gulf countries and the increasing inflow of remittances are having a great impact on Kerala’s economy. The state planning board reports that the remittances from the Gulf to this small state are Rs. 400 crores/year. An annual inflow of this amount cannot help influence the fortune of the population.
Kerala has achieved landmarks in many businesses. Real estate business in Kerala is one of the youngest branch and made marvelous growth in current time. The state views the construction of public infrastructure as indispensable in projecting cities in Kerala as a prime investment destination and in civilizing the quality of urban life. Urban planning and management are marshaled to re-imagine and re-order these smaller cities/towns as a “global city” where the existing urban form is considered as an obstacle to be detached. The changing perceptions of urban infrastructure and planning and the rapid re-ordering of city-spaces in the era of globalization is a vital element in the increase in demand for Property in Kerala. Cochin, which is now known as Kochi is the commercial capital of Kerala and identified as the Queen of the Arabian Sea. It is a place which is blended with historical places, forts, old churches, beaches, backwaters, snake boats races, Kathakali, museums and the convenience of a big city with towering buildings, luxury homes and business centers.
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2 Comments
India has “enormous potential in all its property investment categories”. Strong population growth, a large pool of qualified workers, greater integration with the world economy and increasing domestic and foreign investment are fuelling demand for office, retail and residential property. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%.India is the prime destination for IT services outsourcing. In the coming five years, at least 55 million m² of extra office space must be completed in the premium office segment alone. Property investments in India are not risk-free. Market transparency is far behind European or US standards. It is therefore vital for foreign investors to have a professional local partner. The lack of liquidity and upward pressure of pricing remain the main concern within the market.For more view- realtydigest.blogspot.com
Property is a lifetime investment. When a person makes decision to buy a house, he/she thinks for the market price of that locality and the existing rate trend. If we talk about the scenario these days, sales of real estate have crashed but prices have not come down considerably. Further downside is projected which will be healthy for the sector.