Real Estate Trends in Trivandrum

real estate trivandrum

The coastal city of Trivandrum has been adjudged one of the best cities to live in for the past two consecutive years. There is something about the city that casts a spell on you, as it exhibits a mix of the traditional and the modern elements. Located at the southernmost tip of India, this peaceful city also has a very inviting climatic condition. Overall, the city is a great place to start your family life.

Highly advanced healthcare facilities, social infrastructure and a deeply ingrained sense of pride in its cultural heritage are some other features that will fascinate you while living in here. Being the capital city, there is no shortage of basic living facilities like potable water and electricity along with good roads and transport facilities. What keeps people attracted to Trivandrum is the fact that it’s a comparatively smaller city, meaning the traffic is relatively better, lesser congestion and lower pollution. To add on, there are numerous premium schools and colleges within the district and bingo! you come up with another great reason to buy a home here.

The real estate prices have been somewhat stable here, although there has been some increase in building rates. Aside from this, people are also moving away from the concept of villas and moving on to embrace apartment life which comes with numerous benefits of its own. The supply and demand of apartments in the city is quite balanced as there are a lot of people moving into the city to work in the IT Parks. Construction of apartment complexes has mainly been around the city center and Technopark area. However, with the introduction of dual-carriage highway and many upcoming shopping malls, home builders are now choosing outer regions as well.

With the wealth over 130 years of experience and strict quality policies in place, Muthoot Homez, the real estate segment of Muthoot Pappachan Group, has started many residential projects in the city. A new project is coming up along the scenic Akkulam Lake on the NH bypass for those interested in living near the city, yet close to the arms of nature.

Due to higher costs of land, nowadays people are opting for apartments. Also, easy home loans are helping the youth buy homes even before their middle age. The benefit of home loans is that you don’t need a high amount of capital to get this started. Aside from this, NRIs with money to spare are investing in apartments and giving them out for rent, which goes down well with real estate industry.

The cost of homes in the city range from 4000 – 5000 rupees per square foot, with rates depending on the type of amenities the apartment offers. Apartments located on the outskirts of the city come at rates that are at least a thousand rupees lower and make good bargains for those willing to invest. One just needs to realize that the city is growing fast and what is on the periphery today will come within the city limits in another five years time and increase in value!