NRI
investment in Cochin has propelled the demand for residential flats
in the city. A major percentage of all residential properties in the
city are registered by Keralites living abroad. A range of premium residential
properties in Cochin by different real estate developers are in various
stages of construction to tap the needs and requirements of the NRIs
returning to their land. To a large extent the factors propelling this
are of course the upcoming development projects in Kochi
such as the Smart City and the Container Transshipment Terminal at Vallarpadom.
Earlier the interest in Cochin property was exhibited only by Keralites
but now even north Indians are pretty interested in acquiring property
here from the point of view of an investment. Yet another factor that
has promoted the demand for real estate in Kochi is the increasing insecurity
sensed by Keralites in the job markets of the Gulf countries. Majority
of them in the Gulf nations are now keen on returning to their native
state in India. Multinational companies are now relocating their office
to Kochi. As a result, these companies are keen on finding suitable
accommodations for their employees and other high end executives. These
builders are exploiting this need by these companies and the apartments
being constructed or which are all ready for occupation, are turning
out to be boon for these MNCs.
