Kochi’s real estate sector records surge in raw material costs
Real Estate

Kochi’s real estate sector records surge in raw material costs

The real estate sector in Kochi, which is expecting a revival from the Covid-induced losses, is now witnessing a surge in raw material costs.

Managing Director of Asset Homes and Executive members of the Confederation of Real Estate Developers' Associations of India (CREDAI) Kochi told the media that there would be a surge in demand in Kochi like it is happening in other parts of the country. He also said that the cost of construction in Kerala had increased considerably during the Covid-19 pandemic, making it unaffordable.

He said that the construction cost has increased due to two ways. Firstly, due to the price hike of raw materials, which comes around Rs 350 per sq ft and secondly, because of the 500 due to the unavailability of the Goods and Services Tax (GST) input tax credit. The price per sq ft has increased to Rs 850 in Kochi.

Kochi's real estate sector relies mostly on non-residents Keralites (NRKs). Leaving the affordable housing projects, NRKs make up 60% of the total clientele. This segment will strengthen if the borders are opened, and air travel becomes cheaper, he said.

According to the National Housing Bank (NHB) Residex, the carpet area prices of real estate properties have been surging steadily over the last seven years. In total, the carpet area prices in Kochi increased to Rs 6,843 per sq ft from Rs 4,288 per sq ft, which is a 60% growth in seven years.

Image Source


Also read: 50,000 affordable houses would be on offer by year-end in NCR: Anarock

The real estate sector in Kochi, which is expecting a revival from the Covid-induced losses, is now witnessing a surge in raw material costs. Managing Director of Asset Homes and Executive members of the Confederation of Real Estate Developers' Associations of India (CREDAI) Kochi told the media that there would be a surge in demand in Kochi like it is happening in other parts of the country. He also said that the cost of construction in Kerala had increased considerably during the Covid-19 pandemic, making it unaffordable. He said that the construction cost has increased due to two ways. Firstly, due to the price hike of raw materials, which comes around Rs 350 per sq ft and secondly, because of the 500 due to the unavailability of the Goods and Services Tax (GST) input tax credit. The price per sq ft has increased to Rs 850 in Kochi. Kochi's real estate sector relies mostly on non-residents Keralites (NRKs). Leaving the affordable housing projects, NRKs make up 60% of the total clientele. This segment will strengthen if the borders are opened, and air travel becomes cheaper, he said. According to the National Housing Bank (NHB) Residex, the carpet area prices of real estate properties have been surging steadily over the last seven years. In total, the carpet area prices in Kochi increased to Rs 6,843 per sq ft from Rs 4,288 per sq ft, which is a 60% growth in seven years. Image SourceAlso read: 50,000 affordable houses would be on offer by year-end in NCR: Anarock

Next Story
Infrastructure Urban

Aadhaar Authentications Cross 27 Billion in FY25

Aadhaar authentication transactions surged past 27.07 billion in FY 2024–25, including 2.47 billion in March alone, reflecting its growing adoption across sectors such as banking, finance, telecom, and public service delivery. Since its inception, the cumulative number of Aadhaar authentication transactions has exceeded 148 billion.The Unique Identification Authority of India’s (UIDAI) AI/ML-based face authentication technology is also witnessing a sharp rise in usage. In March 2025 alone, over 150 million face authentication transactions were recorded. This biometric modality is now used ..

Next Story
Infrastructure Urban

IEPFA Holds Preparatory Meet for 'Niveshak Shivir' Initiative

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, Government of India, hosted a preparatory meeting on April 28, 2025, with Nodal Officers from stakeholder companies via video conference. The session, chaired by IEPFA CEO Smt. Anita Shah Akella, focused on finalising operational plans for the upcoming ""Niveshak Shivir"" initiative—a joint effort between IEPFA and the Securities and Exchange Board of India (SEBI).""Niveshak Shivir"" aims to improve investor services and streamline the claims process by reaching out to cities with a high nu..

Next Story
Infrastructure Urban

India, France Sign Deal for 26 Rafale-Marine Jets for Navy

India and France have signed an Inter-Governmental Agreement (IGA) for the acquisition of 26 Rafale-Marine aircraft for the Indian Navy, comprising 22 single-seater and four twin-seater jets. The deal also includes training systems, simulators, associated equipment, weapons, and performance-based logistics, along with additional equipment for the Indian Air Force’s existing Rafale fleet.The IGA was signed by India’s Defence Minister Rajnath Singh and French Minister of Armed Forces Sébastien Lecornu. The agreement, along with supply protocols for aircraft and weapons, was exchanged in the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?