Nigerian Observer Forum

Kakkanad is a prime residential location in Kochi which witnesses a great amount of residential buying/selling activity. Real estate sector in Kakkanad marked a phenomenal growth in the previous years despite rising interest rates and escalating land values. Apartments in Kakkanad reflect excellent accommodation locations well equipped with modem facilities. It is a fact that property demand exceeds availability in some parts of Kochi including Kakkanad and Panampilly Nagar. Kochi is witnessing suburban development initiatives at a fast pace which was never experienced before. It is expected that this Christmas-New Year festival season will bring cheer to Kakkanad real estate sector. Kochi real estate websites indicate that capital values for residential apartments in the city have shown an increase of about Rs 300/square feet. Erstwhile hilly village of Kakkanad is on a successful journey to become Kochi’s most sought after urban pocket.

Previous Onam festival season recorded numerous large scale real estate transactions in Kakkanad. Special offers, schemes, discounts, and home loan availability are cited as reasons for high number of festival period transactions. Kochi residents remark real estate investment in Kakkanad as an attractive investment opportunity. People of Kochi consider real estate investments as most secure investments and most of them are ignorant about share market and initial public offerings. Luxury apartments, spacious house plots, commercial buildings and waterfront properties in Kakkanad are unquestionably lucrative investment opportunities. Residential market of Kochi witnesses an average increase of 15 to 20 percentages yearly and rising middle class income has contributed immensely to the real estate boom in the City.