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Impact of upcoming metro on Kochi real estate

No Comments Sub Category:Real Estate Trend Posted On: Jul 20, 2013

Impact of Metro on Kochi real estateKochi metro is a flagship project which is being undertaken by joint collaboration of both the state and the central government. The project is being set up at the cost of Rs 5146 crore and is likely to change the face of urban connectivity across the city. Once fully operational the Kochi Metro is going to reduce the travelling time between Aluva and other segments by half. The first phase of the project is underway and the work is on track.

Once completed, the metro would help improve connectivity and reduce travel time from Aluva to the key micro markets of Kochi. The route would have 23 stations and the tickets would be nominally priced. With the finalization of metro stations across the city, prices have already started witnessing a positive cycle which are likely to peak by the time the metro project is completed in totality. The introduction of automatic fare collection system with combination of smart card & computerized paper tickets is going to allow smooth movement of people across the city.

The International Container Transshipment Terminal (ICTT) near Port Kochi and the integrated transit terminal of Vyttila Mobility Hub along with the Kochi Metro are sure shot game changers as far as real estate pricing in the city is concerned. Since good urban connectivity is one of the most important factors when it comes to correlating realty prices, most real estate projections believe that the overall real estate across Kochi including Fort Kochi is likely to give returns between 10 to 15 percent on investments made as of today.

The Kochi Metro project which is expected to be operational by 2017 is one of the highly awaited trigger points. The project work is largely on track with smooth land acquisition mechanisms in Place. Kochi Metro once operational is going to add definite value to real estate prices across the various micro market segments of the city.

 

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