Kochi hits a six to become the next highly preferred real estate destination in India.
All potential drivers such as IT development for employment generation, Metro rail for intra-city connectivity, the Smart City tag for basic infrastructure, port-based development for industry and commercial growth, airport terminal for international connectivity and foreign investment and tourism for the hospitality industry are emphasised in Kochi.
This will ultimately boost demand for housing and make it one of the next highly-preferred real estate destinations in India. The 6 reasons why this will happen shortly:
1. Inclusion in the top 20 Smart Cities
Recently, the Ministry of Urban Development, Government of India identified the top 20 candidates under the Smart City mission initiative through a competitive selection process. Kochi ranks fifth and expects an investment of Rs 2,076 crore for pancity solutions and area-based development. E-Governance and water management are focus areas as part of pan city solutions which will help Kochi to access improved and planned infra- structure with assured water and power supply, sanitation and solid waste management, efficient urban mobility and public transport, IT connectivity, etc.
Kochi-Mattancherry-Central City, which is selected as the area for development, will witness intense development in the coming years.
Numerous developers are trying to acquire land for real estate development in and around this area. The ‘Smart City’ tag is expected to boost prices exponentially.
2. India’s first TierII city to a propose Metro Rail
This story is from the August 2016 edition of The Finapolis.
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This story is from the August 2016 edition of The Finapolis.
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