Satellite cities

diginessMay 19, 2009

The sheer number and size of the Kochi apartments and flats are mind boggling to anyone returning to Kerala after a few years. It would not be surprising if they thought for a moment that they have landed in the wrong country or for that matter the wrong state.

Relaxed government policies and liberalization of NRI investments has spurred the growth of real estate in the whole of India. It is so apparent in the sudden spurt of construction and development that is ongoing in the state of Kerala, especially Kochi.

Being constraint in terms of total land mass, peripheral and adjoining areas of Koch city are being put to use for business and residential development. Exorbitant land prices are also contributing factors to this reality. However, this has led to the overall development of not only the bustling city of Kochi, but has ensured a matching growth opportunity to the suburbs Kochi leading to the concept of âÂÂsatellite citiesâÂÂ.

Cities like Thriuvananthapuram and Kochi continue to attract interest from IT and ITES companies and these are giving rise to remarkable real estate development in the cities and its outlying suburban locations. Easier availability of low cost land and rising disposable incomes, in addition to improved transportation facilities are creating a greater demand for the suburbs.

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    Bookmark   May 19, 2009 at 4:38PM
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