Is Kochi going to be the next big real estate market in India?

Kochi, with the upcoming metro project, overall infrastructural growth and the international airport, is all set to be the next big IT/ITes and real estate destination of India says a report by CBRE.

Kochi is the only city in Kerala to be included in the Central government’s Smart City initiative. Kochi ranks 5th in the top 20 list and will garner an investment of Rs 2,076 crores. The state government too has earmarked Rs 500 crores for the smart city project. 

Kochi will also be the first Indian city where water connectivity will be developed as a feeder service for Metro rail. This will augment the construction of the main metro rail, to be completed this year.

The State government came out with a comprehensive Information Technology Policy in 2012 with an objective to make Kerala the most preferred IT destination in India. The incentives provided in the policy included single window clearance and industrial status, concessional power tariff and incentives for green buildings.

While most companies were concentrated in the Central Business District and the off Central Business District, the Secondary Business District is now seeing a lot of demand due to its proximity to the Kochi International Airport.

The reasons for companies like US Technology, IBS Software, E&Y, KPMG, TCS, CTS, Wipro, etc. to look towards Kochi for expansion is Large scale SEZ developments such as KINFRA, SmartCity Kochi, Infopark, etc. provide basic infrastructure amenities such as roads, power, high-speed internet connectivity. Compared to other metro cities of India, land parcels in Kochi are relatively cost effective and more readily available. The availability of quality Grade A supply at a comparatively lower rental rates than the Southern metro cities provides an opportunity to corporates for their expansion.

And hence by 2021, Kochi may emerge as the most sought after IT hub in South India.
 

• Kochi
• IT/ITES
• Real Estate