MB Heights

By: Moopan Builders in Aluva

Aluva is a suburb of Kochi, located in the Ernakulam district in Kerala. It is situated by the Periyar river, and is the industrial focal point of Kerala. Aluva is famous for the Sivarathri festival celebrated annually at the sandbanks of the river. The town is culturally significant due to the Advita Ashrams established by Sree Narayana Guru in 1913.

Aluva is a major pit stop for trains and buses that pass through the region. This high volume of traffic in the area has led to the development of the roads and other infrastructure in the locality, especially schools, colleges, and hospitals in the city. ATMs are also lined up on the streets of Aluva.

The proximity to the proposed starting point of the upcoming Kochi metro and the Cochin International Airport has made real estate prices all over Aluva to rise gradually.

Connectivity and Transit Points

Aluva is a major link in the transport system of Kerala. It acts as a key stop for trains and buses which run from the north to south and vice-versa. Trains heading towards the Ernakulam South Railway station and away from it have a stop at the Aluva Railway Station. The major National Highway, NH-47 also passes through this area. The region has also received considerable interest in recent times, as it serves as the starting point for the Kochi Metro Rail.

The Kerala State Transport Corporation operates buses all across Aluva, along with private bus owners. Both air conditioned and non-air conditioned buses are available at major stops. Transport in the form of auto-rickshaws are also easily available for short distance travel.

Major Landmarks

• Sivarathri Manappuram
• Aluva Palace
• Periyar banks
• Municipal Park
• Adwaitha Ashram
• St.Dominic Church
• Aluva Masjid
• Sree Krishna Temple
• Pottachira Sree Krishna Temple
• Uliyannoor Sree Mahadeva Temple
• Kunjunnikara Juma Masjid

Factors for Growth in the Past

The growth in Aluva can be attributed to the fact that it serves as a major stop for trains and buses travelling along the length of Kerala. This especially sparked infrastructure development in the region, which is close to several major towns like Ernakulam, Kochi, Kalamaserry, and Kakkanad, all of which are commercial hotspots in Kerala. Considering the fact that real estate is cheaper in Aluva than the surrounding regions, it has led to a rise in property investment in the region, in the form of building projects and plot sales.         

Residential & Commercial Market

Residential Market Trends

Currently, the real estate market in Aluva is dominated almost equally by plots, apartments, and houses which have a contribution of around 25-30 percent each in the real estate market. Villas come next, holding 14% of the property market. The region enjoys considerable demand due to its close proximity to major towns and its accessibility to other regions.

The price per sq. ft. has seen gradual rise and fall through the years, and sits at Rs 3,500 in the second quarter of 2014. Residential plots in Aluva sell at around Rs 1,050 per sq.ft. The average price for multi-storey apartments have risen by Rs 200 from the first quarter of 2014 and has reached around Rs 3,600 in the second quarter of 2014.

Commercial Market Trends

Commercial space rent varies between Rs 20-60 per sq. ft., and is found throughout the region along the major roads in Aluva.

Major Challenges

Because Aluva is a major transit point for commuters, it suffers from high noise levels and pollution in major junctions. During the monsoon seasons, the region receives heavy rainfall and certain areas are prone to minor flooding. The region is undergoing constant development, hence sees frequent roadworks, too.

Factors for Growth in the Future

Once completed, Kochi Metro Rail will have a major stop in the region of Aluva. This will spearhead further development of the infrastructure in the area and reduce the congestion seen in key areas of the town during peak hours.

The fact that Aluva is situated close to major commercial regions in Kerala and real estate here is cheaper compared to the surrounding regions makes it an apt locality for real estate development. This can be seen in the form of a number of upcoming projects in Aluva from builders like Oxoniya Builders and Developers, Dharti Builders, Yasoram Builders, SRK Group of Companies, Coral Group, Trinity Developers, and many others.