All is not lost! FACT has said that they would continue water supply scheme in Eloor for one more year. Jan 15 was when this project had to stop to allow Kerela Water Authority to take over but because the other companies had limited funds, the water supply had stopped. But FACT had to continue the water supply under all circumstances. So KWA would have to use the water being pumped from Kalamassery under the Kochi water supply scheme exclusively for Eloor after this period is over. Right now the water from Kalamassery is being split between Eloor and Varapuzha and both regions don't have adequate drinking water. I don't think the area seems promising for real estate investment at least not right now.
The Kerela Authority raised this issue with the Kerela Water board asking them why the water was not collected and distributed in a timely manner. As of right now, the expenditure for water supply is being equally shared by three companies i.e Indian Rare Earths Limited, Hindustan Insecticides Limited and Mechem ltd. Water is being distributed by Fertilizers and Chemicals Travancore (FACT) from its own plant. The court also told the water authority to not stop the water distribution to the 2144 families living in Eloor municipality. I don't think the area is a prime locality to invest in the first place. Especially now that there are these rising civic issues.