Impact of IT Parks on Kochi’s Real Estate Market

Kochi has traditionally been known as a vibrant coastal town, but in the recent two decades, it has undergone a complete transformation. The IT park boom has made it one of the most dynamic business centers of South India. With the development of projects such as Infopark and SmartCity, the city is attracting global multinationals, professionals, and investors. Its swift growth has not only altered the IT industry but also the Kochi real estate market.

Let us see how this transformation brings opportunities and challenges to the Kochi real estate.

Development of the IT Sector and Its Ripple Effect

The development of Infopark and SmartCity marked the transformation of Kochi. Firms such as Wipro, Cognizant, and startups have opened their units here. The demand for commercial space has grown since.

Localities like Kakkanad, which were once filled with vacant plots, now have office complexes, IT parks, and activity in abundance. This, in turn, has directly affected demand for business space as well as housing projects in the area.

Increasing Demand for Home Projects

As thousands of professionals move to the city in search of IT careers, the real estate demand has grown exponentially. Apartment complexes and gated communities are the city’s new look now. Flats in Kochi are the favourite among the majority of young professionals due to their accessibility, security, and proximity with top-class amenities such as gyms, swimming pools, and landscaped parks.

Even families opt for living in a gated community because they provide a secure and yet not isolated experience. This consistent demand keeps the real estate market growing.

Infrastructure Development

The IT revolution has compelled the authorities to augment infrastructure in Kochi. The metro has decreased journey time, while new flyovers and broader roads have simplified traffic on congested road stretches.

Additionally, shopping malls, amusement complexes, and parks are among the areas of fast urbanisation in the city. These constructions not only simplify life but also give added value to property in Kerala, which attracts individuals from other states to purchase property here.

Property Prices Rising

Since homes and office space are greatly in demand, property prices have been on the rise steadily. While it is a good advantage for investors and property owners, it also renders homes unaffordable for others. However, the long-term trend is still that of growth because IT companies keep generating jobs and attracting more residents.

Hotspots Coming Up

Locations such as Kakkanad, Edappally, and Marine Drive are now being targeted as top real estate locations. Kakkanad emerged as a hub for the IT sector, Edappally became a commercial hub, and Marine Drive offers a luxury lifestyle with beautiful waterfront views. They all show how multifaceted the city’s real estate development is.

Summary

The IT boom has transformed Kochi in every possible way, and it is one of the most desired real estate markets in South India. The high demand for homes, offices, and infrastructure will make the city grow in the next few years. The combination of new growth and ancient beauty makes it a special place to live and invest.

If you are looking for Kochi property investment, Asset Homes is a brand that you can rely on. Ranked as one of the top builders in Kochi, we have a good combination of quality projects that offer style, comfort, and affordability. Visit Asset Homes today and get to know about our offerings and pick the ideal home of your dreams!