Future of Real Estate Investment in Trivandrum
Trivandrum is the verdant capital city of Kerala and the largest city area-wise in this southern state of India. Rich in cultural heritage and with a history of having been the state capital of the Kingdom of Travancore prior to independence, Trivandrum is well-developed with excellent infrastructure in place. Its numerous heritage sites, beautiful beaches and verdant greenery make Trivandrum a popular tourist destination too.
Among the 5 major cities in Kerala, Trivandrum has been adjudged the best city to live in, for many years in a row. Basic facilities like electricity and water are consistently available here along with better roads, lower pollution and comparatively lower crime rates. Aside from being the capital of the country’s most socially-developed and literate state, Trivandrum also scores very high on the livability scale.
The city is growing both horizontally as well as vertically, pulling in parts of the suburbs into its folds, year-on-year. This also means that Trivandrum is a hot destination for real estate development and offers excellent prospects for investors as property prices are only touted to head north. Whether you are buying a home for your own personal use or for giving out as a rental, you are assured of excellent ROIs as costs are only going up.
There are multiple factors driving Trivandrum towards becoming a hot real estate investment hub and the future of this city is looking bright for builders and homebuyers. Here is a look at some of the factors that are driving real estate investment in Trivandrum:
The economic growth rate of Trivandrum stands at 13.83% and contributes 10.31% towards Kerala’s GDP. It is the fastest growing city in Kerala with its economy depending mainly on the IT sector, aerospace, education, plantations, commerce as well as its vibrant tourism industry. Trivandrum is also home to multinational giants such as Oracle, Ernst & Young, TCS, Infosys, McKinsey & Company, etc. Along with the upcoming Vizhinjam port, the IT, industrial, biotechnology and Bio 360 Life Science Parks and campuses, Trivandrum’s economy is only touted to grow further while providing more job opportunities. This is bound to reflect on the real estate sector with a higher demand for quality homes.
Technopark, Trivandrum’s IT hub is on an expansion mode with Phase II, III and IV (Technocity) well on its way towards completion. Technopark currently provides employment to around 70,000 professionals directly and over two lakhs indirectly. Once the expansion is completed, it’s expected to provide employment to another 100,000 professionals from across the country and abroad. This means the need for residences is going to go up substantially and the appearance of new townships.
Trivandrum is considered nature’s green paradise and is amply endowed with numerous pristine beaches including Kovalam and Varkala beaches, the majestic Ponmudi and Agastyamalai hills and the scenic backwaters of Poovar and Anchuthengu. Aside from these popular tourist destinations, Trivandrum is also rich in cultural heritage, with a number of well-preserved monuments from the time of the Maharajas and the British Raj.
The city is well-known for its premier educational institutes at all levels and fields, many of which have been standing from the times of the Maharajas. Trivandrum is also known as a medical tourism center with its excellent multi-specialty hospitals too. Aside from this, there has been a retail revolution with the advent of malls and many international brand outlets over the recent years. This has been augmented by the large multi-cultural workforce in Technopark with disposable incomes.
Trivandrum is well connected to the rest of the country and the world with its domestic and international airports, three railway stations as well as the newly constructed NH66 highway. This new bypass road will also be instrumental in connecting Technopark with the upcoming Technocity campus and result in the emergence of new residential projects and townships.
With so much happening in Trivandrum, and demand for homes by IT professionals from all over the country scorching up, it’s not surprising that Trivandrum is fast becoming a real estate hotspot. With the current market being a buyer’s market, this is the best time to buy luxury apartments in Trivandrum.
Big-brand developers like Sowparnika have been in the business of building meticulously designed luxury flats and apartments since 2003, with well over 7,500 happy customers to prove it. You will find delightful Sowparnika projects in niche parts of the city including the Technopark area, Kazhakoottam, Sreekaryam, Ulloor, Akkulam, Kulathoor, Mukkola, Thycaud, Pappanamcode, etc.
And with the experience of developing over 5 million sqft of built-up area, 5 million sqft under development as well as another 5 million sqft upcoming area, we provide customer-centric apartments in denominations ranging from 1, 1.5, 2 & 3BHK to suit every family size.
Come have a look at a Sowparnika home today!
