The fast-growing real estate industry is undergoing rapid transformation powered by technology. The way property is bought, sold, and used is changing quickly with each passing year and is changing fast. Property builders in Kochi must keep up with these changes to meet buyer’s demands. By understanding emerging technologies and changing buyer preferences, builders and developers in Kerala build projects that boast comfort, convenience, and luxury like never before.

This blog discusses emerging trends and technologies in the real estate landscape:

1. Demand For Luxury Real Estate

The rise of disposable incomes and shifting consumer preferences are influencing homebuyer preferences, especially millennials. They are gravitating towards luxury real estate due to the growing affluence and changing urban lifestyle. They aspire to live in exclusive residential projects with high-end amenities. The potential for high return on investment and increased rental incomes are also pushing investors towards luxury apartments in Kochi. These factors have resulted in a significant rise in the sale of luxury properties all over.

2. Rise of Low-density Housing

Low-density housing options like villas, townhouses, and plotted developments are in demand. These properties with less population use fewer natural resources like water, power, and air. Residents of these properties want to live sustainably by preserving resources like land and water to be in harmony with nature. The land is largely unused in these projects reducing the need for infrastructure and staying away from crowded cities. Builders in Kerala are responding to these trends by introducing well-planned low-density projects emphasizing open spaces, lush greenery, and exclusivity.

3. Smart Homes

Smart homes are built to make residences convenient for the owners by using technology to automate various activities within the home. Smart thermostats, efficient lighting, and the use of solar energy have helped in conserving power and reducing utility bills. Enhanced security features, remote control of home appliances and devices, and automatic control features are changing the living experience in the new age of smart homes.

4. Virtual and Augmented Reality

Prospective buyers can now take virtual tours of properties from the comfort of their homes. Virtual reality tours give buyers a seamless experience with property details in real time. They can have a good understanding of the properties, examine the details closely, and get a good understanding to make their decisions without having to visit the property. Augmented reality enhances the property experience by overlaying digital information onto the physical surroundings to envision their future home.

These are the trends and technologies being adopted by property developers in upcoming locations like flats in Vytilla. Combining technology and emerging trends in real estate most residential projects will keep evolving to meet the demands of the discerning customer.

In Kerala, where the real estate market is flourishing, opting for an under-construction project comes with numerous advantages for potential buyers. Builders in Ernakulam employ various strategies, such as enticing brochures, attractive offers, flexible payment options, and competitive prices, to attract a wide range of buyers. Despite the alluring offers, home buyers must exercise caution and conduct thorough due diligence before finalizing any deal.

Below, we explore crucial steps to ensure a seamless process when purchasing an under-construction property in Kerala:

1. Extensive Research

In the many projects in Kerala, developers offer diverse properties at varying price points. Extensive research of under-construction projects in Kerala forms the foundation for shortlisting potential properties that align with your expectations. Consider factors like location, price, configuration, and provided facilities when narrowing down your choices while selecting apartments in Ernakulam.

2. Legal Due Diligence

After shortlisting suitable projects, the next step involves ensuring clear titles and proper paperwork related to land and government approvals. The selected property should be free from legal disputes. The builder must possess all necessary permissions and certificates from authorities allowing the construction work to proceed.

3. Approvals and Permissions

Confirm that the builder has obtained project plan approval, outlining essential details such as project layout, the number of units, and building floors. Ensure the builder adheres to the approved plan of the flats for sale in Ernakulam without engaging in any unauthorized construction that may compromise the project’s designated open spaces.

4. Developer’s Track Record

Assessing the reputation of the builder becomes paramount when considering an under-construction property. Since judging builders solely on future promises is challenging, examining their track records and reviewing feedback from previously constructed flats for sale in Ernakulam is a good strategy for gauging their credibility.

5. RERA Compliance

According to the RERA Act, the selected projects in Kochi should be registered under RERA. Cross-check the developer’s claims and promises on the RERA website using the provided RERA number. RERA ensures adherence to strict timelines and provides a redressal procedure for buyers in case of grievances or disputes.

6. Property Pricing

Homebuyers should be informed about property prices in different locations in Kochi. Evaluate the project’s property prices based on its locality, considering the potential savings associated with booking under-construction projects in Kerala. This stage also allows for negotiations, providing additional benefits to buyers.

7. Payment Schedules

Developers typically offer flexible payment options for under-construction properties. Understanding the payment schedule, which often involves a 10% (may vary) initial deposit and subsequent payments spread over several years, is crucial to managing the financial burden effectively. Studying the payment schedule in detail helps avoid surprises later.

Approaching the purchase of an under-construction property in Kochi with diligence and care can lead to a rewarding investment. By conducting thorough research, ensuring the credibility of the developer and project, and being well-informed, homebuyers can confidently invest in a property that aligns with their aspirations.

Kerala has one of the highest numbers of expatriates in the country who live in many parts of the world including the Middle East, Europe, and the Americas. Kerala also has very high remittances from abroad compared to most other regions in India. As the real estate market is booming here, many NRIs are investing to increase their assets and earn lucrative returns. Before investing, there are certain important aspects that the NRI investors should consider.

We will discuss these in this blog.

1. Legalities

The real estate transactions for NRIs fall in FEMA – Foreign Exchange Management Act has laid out the guidelines. As per these, NRIs are allowed to buy and rent property in India and transfer the earnings into their NRO or NRE accounts. NRO and NRE accounts are bank accounts that NRIs are allowed to manage their earnings in India and abroad.

NRIs are allowed to take loans from banks to fund their real estate investments and use rental income to repay these loans. They can repay these loans through the NRI and NRE accounts.

2. Research

NRIs should have an investment plan to make outlining their investment objectives clearly. This will help them decide the quantum of investment and the properties they should invest in. Builders in Kerala offer many options for real estate investments. For instance, Kochi flats for sale fall under the luxury, mid-segment, and affordable category. Investing in properties that meet the goals and objectives of the investor makes more sense than following a blanket rule for investment.

3. Residential and Commercial properties

NRIs can choose to invest in residential or commercial properties depending on their investment objectives. Although commercial properties give higher returns, they are difficult to rent out or sell. Residential properties are easily rented or sold due to rapid urbanization across cities in Kerala that have a high demand for housing. Luxury properties are in demand amongst home buyers as they can afford them due to rising incomes. Renting these out or selling them will earn higher returns for NRIs investing in them. Investing in villas, luxury apartments, and similar properties that have high market value are good options for NRIs. New projects offering flats in Vytilla can yield better returns than those in the older suburbs of Kochi.

4. Locations

Most cities in Kerala are growing at a rapid pace. Cities like Kochi, Trivandrum, and Kozhikode have an ideal balance of urban living and natural surroundings. Choosing to invest in these cities can ensure growth in returns every year. Smaller cities like Thrissur and Kottayam are also good destinations for investing with many luxury properties to choose from. Flats for sale in Thiruvalla can be good options for NRIs who want to retire in the calm areas.

Investment in Kerala can fetch NRIs good returns. They must hire local lawyers specializing in property investments who will help them with the policies and procedures laid out by RBI and the government.