Top Projects - Kerala

01 Aug 2012 CW Staff

The IT and tourism sectors in Kerala have together propelled the development of the property market in the state. Demand for land and building in the state is witnessing a sudden increase with many people buying properties. Many new IT parks and firms are also being launched with the branches of many multinational companies being opened here.

As Kerala is known for its aesthetic backwaters and lush greenery, apartments and villas near tourist spots are much in demand and priced comparatively high. This is also the case with those near the IT hub and multinational companies. But, Kerala is popular not only for its scenic beauty but also for its urbanisation due to which many NRIs have started investing in the state.

Upcoming residential developments

With several big national players owning land in Kerala, residential property prices in the state are shooting up. “Marine Drive, Kadavanthra, Panampilly Nagar, Edappally, Thevara and Kakkanad have emerged as the regional hotspots in terms of both demand and value. A multitude of residential projects are already under development in these places, majority being community living projects,” reveals Pradeep S, Senior Sales Executive, TBPL Builders and Developers. The company is currently engaged in the development of Anjali Gardens – a project comprising 22 villas of 3 BHK in Thrissur. Some of the other residential projects being developed in the state include:

Cygnus III: This project by Confident Group in Kakkanad comprises five towers of stilt+8 floors having 2/3 BHK apartments with amenities like a swimming pool, clubhouse, gym, etc.

Noel Arcadia: This project is being developed by Noel Developers at Kochi. Spread across 2.20 acre the residential development comprises two towers of 15 storeys each.

Condor Cassia: This project by Condor Cassia at Thrissur comprises four towers of G+19 floors offering 600 apartments of 2-5 BHK.

Upcoming commercial developments

The arrival of event management companies and booming industrial sectors in Kerala has played a pivotal role in changing the commercial real estate scenario of the state, which is on a constant rise. “Demand from tourism has led to the development of hotels, supermarkets, spas, etc, in regions such as Marine Drive, Kadavanthra, Panampilly Nagar, Kakkanad, Edappally, etc,” states Shenil Krishnan, Sales Manager-Cochin, Confident Group. Several prominent upcoming projects in the state include: Hoysala EVM: This project by Hoysala Projects in Kakkanad is spread across 117,064 sq ft. It comprises basement plus five floors and is likely to be completed by December 2015.

Vizhinjam International Deepwater Multipurpose Seaport: This is an ambitious project by Kerala Government at Vizhinjam in Thiruvananthapuram. It is envisaged to be executed in phases with a cumulative cost of approximately Rs 7,000 crore.

Supplementary gas infrastructure project: Kerala Gail Gas (KGGL) – a joint venture company of KSIDC and Gail Gas – will take up activities like City Gas Distribution in Kerala, CNG stations for KSRTC buses, establishment of a Gas Training Institute, laying of spur lines from GAIL's main pipeline, setting up of small gas-based power generating plants, etc, in the state. The total investment in the project is estimated to be at around Rs 2,000 crore.

Ship repair facility: Cochin Port Trust will develop an international ship repair facility at Willingdon Island with private sector participation. The facility will be established on 45 acre and will be developed on the BOT model.

The IT and tourism sectors in Kerala have together propelled the development of the property market in the state. Demand for land and building in the state is witnessing a sudden increase with many people buying properties. Many new IT parks and firms are also being launched with the branches of many multinational companies being opened here.As Kerala is known for its aesthetic backwaters and lush greenery, apartments and villas near tourist spots are much in demand and priced comparatively high. This is also the case with those near the IT hub and multinational companies. But, Kerala is popular not only for its scenic beauty but also for its urbanisation due to which many NRIs have started investing in the state.Upcoming residential developmentsWith several big national players owning land in Kerala, residential property prices in the state are shooting up. “Marine Drive, Kadavanthra, Panampilly Nagar, Edappally, Thevara and Kakkanad have emerged as the regional hotspots in terms of both demand and value. A multitude of residential projects are already under development in these places, majority being community living projects,” reveals Pradeep S, Senior Sales Executive, TBPL Builders and Developers. The company is currently engaged in the development of Anjali Gardens – a project comprising 22 villas of 3 BHK in Thrissur. Some of the other residential projects being developed in the state include:Cygnus III: This project by Confident Group in Kakkanad comprises five towers of stilt+8 floors having 2/3 BHK apartments with amenities like a swimming pool, clubhouse, gym, etc.Noel Arcadia: This project is being developed by Noel Developers at Kochi. Spread across 2.20 acre the residential development comprises two towers of 15 storeys each.Condor Cassia: This project by Condor Cassia at Thrissur comprises four towers of G+19 floors offering 600 apartments of 2-5 BHK.Upcoming commercial developmentsThe arrival of event management companies and booming industrial sectors in Kerala has played a pivotal role in changing the commercial real estate scenario of the state, which is on a constant rise. “Demand from tourism has led to the development of hotels, supermarkets, spas, etc, in regions such as Marine Drive, Kadavanthra, Panampilly Nagar, Kakkanad, Edappally, etc,” states Shenil Krishnan, Sales Manager-Cochin, Confident Group. Several prominent upcoming projects in the state include: Hoysala EVM: This project by Hoysala Projects in Kakkanad is spread across 117,064 sq ft. It comprises basement plus five floors and is likely to be completed by December 2015.Vizhinjam International Deepwater Multipurpose Seaport: This is an ambitious project by Kerala Government at Vizhinjam in Thiruvananthapuram. It is envisaged to be executed in phases with a cumulative cost of approximately Rs 7,000 crore.Supplementary gas infrastructure project: Kerala Gail Gas (KGGL) – a joint venture company of KSIDC and Gail Gas – will take up activities like City Gas Distribution in Kerala, CNG stations for KSRTC buses, establishment of a Gas Training Institute, laying of spur lines from GAIL's main pipeline, setting up of small gas-based power generating plants, etc, in the state. The total investment in the project is estimated to be at around Rs 2,000 crore.Ship repair facility: Cochin Port Trust will develop an international ship repair facility at Willingdon Island with private sector participation. The facility will be established on 45 acre and will be developed on the BOT model.