subject: Thiruvananthapuram Emerging as the Cyber City of India [print this page] Thiruvananthapuram Emerging as the Cyber City of India
Thiruvananthapuram, the capital of Kerala, is also called the Evergreen City of India'. Also known as Trivandrum, it means the Abode of Lord Ananta' derived from the name of Hindu deity. Real estate in Thiruvananthapuram is reaching new heights everyday with rapid development taking place across all the segments- residential, commercial and retail.
Being the education, commercial and medical hub of Kerala, Thiruvananthapuram has huge importance attached to it. While students migrate to the city for higher studies, others come either in search of employment or for medical treatment. Being the best tier-II metro with IT and ITes infrastructure and second best in availability of human talent, the property in Thiruvananthapuram is blooming in full swing. It has several important government offices, business units of corporate bigwigs, hospitals, educational & research institutes and IT campuses. It has all the administrative head offices, numerous industrial units, development centers and other important institutions. It is a knowledge city that has everything from medicine to music to culture to employment to what not!
People come to the city in large numbers every year for various purposes (education, jobs and medical treatments) and this has raised the demand for residential property in Thiruvananthapuram. The recent boom in the IT industry has bolstered the need for residential and commercial property in the city. It has been attracting buyers and developers from across the country and even beyond with NRIs and foreign investors taking interest in Thiruvananthapuram realty sector. Builders, architects and management consultants of national and international repute are seeing fortune in being a part of the rapidly growing real estate market of India.
One of the very interesting trends developing these days between property buyers is that more than being in the metro cities, they wish to settle down in a place that offers all modern amenities and convenience. It has been observed that investors are now keen on buying property in smaller cities as realty market of metros near saturation, leaving no room for further development. Moreover, lower prices become a great puller as the booming Indian property market promises to yield high returns few years down the line. The huge development in Thiruvananthapuram in terms of infrastructure assures higher capital and rental values in the coming times.
Among the 50 upcoming residential projects in the city, various developers like Muthoot Builders, Skyline Foundations and Structures Pvt. Ltd., Heera Construction Company Pvt. Ltd., SI Property, Artech Group and others are actively involved. Raheja, DLF, Leela Group and L&T will be constructing commercial spaces for corporate giants. The retail scene is also gearing up with mixed use retail developments taking shape in the capital city of Kerala. The face of shopping is bound to don a new look with various leading national and international brands for apparels and jewelry getting ready to step in the markets of Trivandrum.
With the arrival of software giants and growing population, an escalation in prices of property in Thiruvananthapuram is definite to happen. The property rates are already at par with some of the most expensive cities and growing which makes one of the most rewarding investment destinations. Despite the rapid construction activities, the spurt in demand is so high that it continues to outstrip the supply. In addition to the demand for property by locals, requirement is also coming from NRIs and foreign investors. Since renting flats in Thiruvananthapuram fetches good value owing to the migration of students and professionals, investors usually rent their properties. So, it is wise to invest or buy property across all realty segments of Thiruvananthapuram-residential, commercial and retail.
