Kaloor in Kochi is a hotbed for many new residential projects

Kaloor is fast developing into a hotbed for many prestigious apartment projects, many of which are in various stages of completion. Located about 14 km north-east of the heart of the city, the area is appealing to both buyers as well as those looking for rental accommodation. This is primarily because it is in the vicinity of many other important areas as well as infrastructure facilities, besides being well connected across the city. Despite property and rental values being on the higher side, Kaloor has still retained its charm among those who would like to enjoy the best of facilities irrespective of the price factor.

Connectivity

Kaloor is well connected to most areas across the city through some major roads that pass through its vicinity. Some of the major roads that passing through the vicinity of Kaloor are the Salem-Kochi-Kanyakumari Highway (NH-47), the SA Road (SH-15) and the SH-41. Besides, there are some important roads that pass through Kaloor namely the Banerji Road, the Kaloor-Kadavanthara Road, the Pipeline Road, the Desabhimani Road, the Perandoor Roan and the Stadium Link Road. Kaloor has an excellent road network, with private buses plying across the city. Besides, KSRTC buses connect it with other areas across the city and beyond, with many bus stops dotting the area. The nearest railway station from Kaloor is the North railway station located about 1 km away, while the Ernakulam Junction (South) railway station is about 4 km away. The Kochi International Airport at Nedumbassery is located about 27 km away, along the NH-47.

Infrastructure

Kaloor is renowned for its top-notch infrastructure facilities which have contributed immensely to enhancing its appeal as a residential destination. Some of the reputed schools in the area are Seventh-Day Adventist Higher Secondary School, ACS English Medium Higher Secondary School and Model Technical Higher Secondary School, among others. There are also many prominent colleges in Kaloor like the International Business School, Cochin Technical College and Hedge School of Applied Electronics, among others. The area also has many renowned hospitals like Pauls Hospital, PVS Memorial Hospital and Lisie Hospital, among others. Some of the important religious institutions in the area are Cherathrikovil Sree Krishna Swamy temple, St. Antony’s church and Kaloor Juma Masjid, among others. One of the most important landmarks of the area is the Jawahar Lal Nehru International Stadium. Besides, there are many other important facilities like banks, restaurants, shopping centers and parks, among others.

Realty Scenario and Developers

Kaloor has many important residential pockets, besides being located close to many important residential areas. Some of the important residential pockets in Kaloor are Achutham Layout and Kathrikadavu, among others. The commonly seen type of residential units in the area are 2 and 3 BHK apartments. Some of the prominent completed apartment projects in Kaloor are Ceeyems City Nest by Ceeyem Developers and Apartments, AC Centaurus by AC City Builders and Developers and Mayura Regency by Mayura Homes and Deveopers, among others. There are also many important upcoming apartment projects like Eco Paradise by Paul Alukkas Developers, Nifta Casa by Nifta Builders and Developers and Sunshine City Drive by Sunshine Abodes, among others.

There are also many villa projects in Kaloor which have been completed and which are coming up. Some of the completed villa projects here are Anvita Heritage by Anvita Builders, Ace Nimbus Villas by ACE Homes and Alfa Homes by Alfa Ventures, among others.

Price Trends

As per CommonFloor data, property values in Kaloor have been on the upswing since Q1 2012, when the average price recorded in the area was about Rs 3,720 per sq. ft. In the subsequent year, the average prices here increased to Rs 4,153 in Q1, 2013. Even though there was a dip in prices in the same period in the following year (Rs 4,122 per sq. ft.), there was a recovery with the prices at the end of Q2, 2014 being Rs 4210 . The rentals rates in the area range between Rs 15,000 – Rs 30,000 per month depending on the sq. ft. area as well as the number of bedrooms. The average rental per sq. ft. in Kaloor is about Rs 12.

Future Prospects

Due to the various benefits that Kaloor offers, the prospect of development in the residential realty market of the area is bright. This is reflected in the number of upcoming residential projects in the area. Irrespective of the price trend prevailing in the area, the demand for residential accomodation in Kaloor is quite steady. This is likely to continue in future as well. With the availability of developable land in the area being limited, investors as well as developers who had invested in land earlier are likely to reap healthy returns in future. The development in infrastructure is also expected to enhance the demand for property here, thereby resulting in appreciation in prices.