Kannur – Trending Housing Location in Kerala Real Estate
15 July 2023
Kannur is a popular tourist destination in northern Kerala. This coastal city is known for its pristine beauty and pleasant weather. The drive-in beaches, museums, sprawling hills, and handicraft shops offer a complete experience making Kannur an ideal holiday destination. However, due to the city’s rapid industrial and commercial development, Kannur is also emerging as an ideal location to reside and work.
Rapid physical infrastructure development like roads, highways, and transportation systems has fuelled Kannur’s demand for real estate. The Kannur International Airport which started operations in 2018 has further increased commercial activity, driving the demand for commercial and residential properties. The growing tourism industry in the region is also increasing investments in the hospitality sector creating a demand for hotels and resorts.
Growing demand for luxury and affordable apartments are being met by leading builders in Kannur catering to all customer categories.
Some leading builders offer luxury apartments in Kannur with world-class amenities. These luxury residential projects are located at upcoming locations like Payyambalam, Thalap, Mele Chova etc . Owning a residence in one of these areas marks the arrival of success for a family. The amenities to one can boast about include gyms, spas, clubhouses, swimming pools, a driver’s dormitory, guest suites, a business center, a supermarket, a cafeteria, a doctor’s clinic, a day-care center, and a beauty parlour among many. These amenities which are usually seen in metropolitans like Cochin and Trivandrum are now available in Kannur too. The cost of luxury apartments varies between INR 75lakhs to 5 crores depending on factors like size, locality, amenities, and luxury.
Thalap is a fast-developing residential suburb of Kannur located on NH66. It is home to many prominent educational and health institutions in Kannur. The suburb is famous for its historical significance as a religious and cultural heritage. Payyambalam is well known for the beach and is considered one of the premium locations in Kannur for its lush greenery and scenic views. Mele Chova is an upcoming destination for luxury residences as renowned developers are offering premium homes with luxurious interiors and posh amenities.
The residential market for Kannur will be positive and grow consistently for the next few years. The government’s initiatives to promote affordable housing and rapid infrastructure development including the Kannur International Airport and the Kannur-Kozhikode- Mysuru highway, make Kannur a very attractive destination for buyers and investors. The growing tourism industry is another important reason for the rising demand for properties like hotels and resorts.