Q:Hey I’m a smalltime real estate agent in Kochi. I’m thinking why the market is going down in Kochi. Nobody is interested in buying property anymore. Does it look like the market situation might be improving now or soon in the near future?
Latest Answer: The overall cost of real estate in Kochi has increased by 40% in the last couple of years. And right now the only clients for this market are the NRIs, who constitute about 60% of the total investors in Kochi.
Latest Answer: Actually there will be mostly a number of buses and trucks, because of the mobility hub. And not only the Kaniampuzha road, there are plans to widen the Vytilla-Pettah road as well. Both these roads will contribute in decongesting Vytilla, which has become a bit of an issue lately.
Latest Answer: I completely agree. The budget also failed to mention how the switch from regular domestic gas to natural gas would be made throughout the state. It really needed to specify a proper natural gas policy, but the budget failed to do so.
Latest Answer: Yes the 20% property tax on residential apartments and the 90% on commercial buildings are currently being revised. I think this is happening because of noise that was created by the LDF members, who wanted this whole new regime abolished actually.
Latest Answer: For example the Rs 250 crore Maradu water treatment project. The thing is that so far, the city has been only able to spend 46% of the allotted Rs 517 crores, and without further approval from the centre, nobody knows what steps to take. The projects are lying abandoned at the moment.
Latest Answer: Yes but I think what the authorities have come up with for the land acquisition is interesting. They have claimed that whoever surrenders their land without charging anything will receive Transfer of Development Rights (TDR), which basically means that they will enjoy certain privileges in building rules throughout the state.
Latest Answer: I read that the GCDA are thinking of restoring this old bridge as a tourist attraction spot. Currently it is closed to public. Their logic is, if they are allowed to restore and publicize it as a tourist attraction spot, it might even help in generating some revenue!
Latest Answer: If you let out a regular 2bhk apartment near Kochi infopark, then you can charge upto Rs 16,000 if it is semi-furnished. If its fully furnished then you can charge up to Rs 20,000. If the apartment complex has amenities like gym, swimming pool, etc, you can even charge an additional Rs 2000 per month. Flats are generating more rent than houses, so I’d advise you to invest in flats only.