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Step-by-Step Guide to Under Construction Projects in Kerala
CategoriesBlog Kerala Real Estate

Step-by-Step Guide to Under Construction Projects in Kerala

By ABAD Group,

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.

Impact of Smart Home Technology On Property Value
CategoriesBlog Real Estate Trends

Impact of Smart Home Technology On Property Value

By ABAD Group,

Smart home technology integrates various home functions to control, automate, and monitor them remotely using technology. The technologies include smart thermostats, lighting, security systems, voice assistants, and appliances. As these devices integrate the home functions to give a seamless experience to the resident enhancing their comfort and convenience many folds, their impact on property value has been significant.

This blog explores how smart home technology is impacting property values:

1. Increased Demand

The tech-savvy millennials and younger home buyers seek the latest technology when they invest in their homes. The convenience, luxury, energy efficiency, and enhanced security features attract them. They are ready to pay more for these futuristic features improving their quality of life. Ready-to-occupy flats in Kochi have all the features pre-installed before the residents can get possession of their homes.

2. Energy Efficiency

Efficient systems that reduce utility bills lure the new-age home buyer as they achieve dual goals of savings and sustainability. Smart thermostats can reduce utility bills by understanding the heating and cooling preferences of the residents. Smart lighting can save power by optimizing the usage depending on the patterns. The new-age home buyer is ready to pay a premium for these efficient systems.

3. Enhanced Security

Smart security features like remote monitoring, app-based locking, and unlocking, instant alerts, and doorbell cameras enhance the safety and security of the homeowner. These features play a role in enhancing property value, especially for high-net-worth individuals. Many apartments for sale in Kochi come with these advanced security features.

4. Convenience

Smart homes offer the ultimate convenience to home buyers. From controlling home devices remotely to giving voice commands, comfort and convenience is an exclusive experience. 3 BHK flats in Kochi command a premium to offer these conveniences. These are highly attractive to younger home buyers who are willing to pay a premium.

5. Investment

Smart homes are future-ready and will not require significant updates after some years. These homes are more appealing to the homebuyer who may use their home as an asset. These homes have higher market value with a good demand from future home buyers. They can also earn a higher rental return if the buyer decides to rent it out.

Smart homes are here to stay and most homes will be equipped with at least the basic smart home features if not the advanced ones. The convenience offered by these homes and the status of living in an automated residence lure more home buyers to invest in smart homes.

Understanding the Real Estate Market in Kochi, Kochi Real Estate
CategoriesBlog Real Estate Trends

Understanding The Real Estate Market in Kochi

By ABAD Group,

Kochi is the Queen of the Arabian Sea for its natural beauty, scenic views, and rich cultural heritage. It is a top choice for domestic and international tourists and has been ranked sixth among the top tourist destinations of India by Nielson. According to McKinsey Global Institute, Kochi is one of the top 28 Indian cities that will be a part of 440 global cities, making up 50% of the world’s GDP by 2025.

Infrastructure

Kochi has been identified as one of the 20 smart cities by the Ministry of Urban Development, Government of India through a competitive selection process. This means that the city will get a special focus on developing planned and improved infrastructure. The focus will be on E-Governance, water management, power supply, sanitation, solid waste management, efficient urban transportation, and IT

Connectivity.

The city is well connected to the rest of the country and world by air, road, and rail. The domestic and international airports, state and national highways passing through it, and railways give access to all major hubs and cities within the state and country. The network of roads in the city is the principal mode of movement of transport within the city.

Economy

The Kochi Refineries, Kochi Shipping Yard, Eloor Industrial Estate, Kakkanad technological cluster, and the Special Economic Zones are the major hubs for industrial activity in the region. These regions are responsible for major economic development in the city and account for more than 450 IT companies and 250 companies from other industries. The demand for housing and commercial real estate is fuelled by these developments forecasted to keep growing in the future too.

Real Estate Scenario

There are several reasons that the Kochi flats for sale are preferred. The city is rated as one of the safest cities to live in India. The booming IT industry is attracting many professionals to migrate to the city as living in Kochi is affordable. These factors are responsible for the rapid development of the real estate sector.

The builders in Kochi are developing residential and commercial real estate to meet the growing demand. From budget to luxury apartments, independent houses, and villas in Kochi, the home buyer and investor have a range of choices offered by leading developers. Most of the ready-to-occupy flats in Kochi have the best amenities and facilities that meet international standards. 2 and 3 BHK flats in Kochi are the preferred configurations by home buyers and investors.

The pricing for residential homes ranges from ₹2000 to ₹9000 per square feet depending on the locality and type of projects. Some of the major locations are Kakkanad, Edapally, Kaloor, Thevara, Aluva, Panampilly Nagar etc. Kochi is a major hub for real estate and is poised for growth in the coming years.

NRI Real Estate Investment Guide For Buying Property in Kerala
CategoriesBlog Kerala Real Estate

NRI Real Estate Investment Guide For Buying Property in Kerala

By ABAD Group,

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.

Kochi The Ultimate Destination for Real Estate Investment
CategoriesBlog Location of The Month

Kochi: The Ultimate Destination For Real Estate Investment

By ABAD Group,

Kochi, the burgeoning Tier II city of India and the economic hub of Kerala is experiencing an unprecedented surge in growth. This boom, fueled by rapid infrastructure and industrial development, has catapulted the real estate market into a realm of immense demand for both residential and commercial properties. With escalating incomes and elevated living standards, the city is witnessing a burgeoning desire for luxury living, making it an alluring destination for investors seeking the perfect fusion of traditional and modern cultural lifestyles.

Let’s delve into some pivotal trends shaping Kochi’s property market:

1. Prime Locations

Flats in Ernakulam are predominantly found in prime locales such as Edappally, Cheranalloor, Providence Road, Kollamkudimugal, Kakkanad, Vyttila, and Kadavanthra. These areas boast elite neighborhoods, waterfront views, and easy access to educational institutions, hospitals, malls, cafes, and restaurants. Additionally, they house some of the city’s premier commercial real estate. The demand for real estate in these areas is high and investments here will yield high returns.

2. Design and Architecture

The luxury flats in Kadavanthra and similar locations showcase a harmonious blend of modern and traditional architecture, catering to the discerning tastes of home buyers. Whether it’s luxe apartments, bungalows, or villas, each property boasts elegant designs and contemporary layouts, exuding a refined aesthetic. High-end interiors featuring premium materials, fixtures, and fittings further enhance the allure for elite investors.

3. Amenities and Facilities

Flats in Ernakulam are equipped with world-class amenities catering to the affluent lifestyle. From swimming pools, fitness centers, and clubhouses to spa and wellness centers, multi-car parking, 24×7 security, and concierge services, these facilities align with the expectations of an opulent living experience. Flats in Vytilla are good examples of residents with the best amenities and facilities.

4. Privacy and Security

Distinguishing themselves in terms of security and privacy, flats for sale in Kochi’s luxury segment are often situated within gated communities with restricted access and round-the-clock surveillance by security personnel. Some complexes go the extra mile with advanced security features such as video intercoms, CCTV surveillance systems, and automatic fire-combating systems.

5. Sustainability

Embracing green and sustainable living, many flats for sale in Kochi incorporate features like rainwater harvesting systems, solar panels for electricity generation, energy-efficient appliances, and landscaping that prioritizes native plants and conservation. Investing in such futuristic projects ensures long-term benefits for investors.

6. Builders and Developers

Renowned builders in Kochi continuously innovate to meet the demands of discerning homebuyers. They offer modern, luxurious flats that stand out in the competitive market. Luxurious gated villas, deck-style apartments, personalized services, and advanced security systems are some of the innovative features that adhere to international standards, setting them apart from the rest.

Investing in Kochi’s real estate can be highly rewarding. Conducting thorough research on locations, and property markets, and seeking advice from industry experts is crucial. Given the high demand for reputable projects in the city, acting swiftly and vigilantly in property investment is paramount.

What Makes Investing in Kochi Real Estate A Profitable Investment Bet
CategoriesBlog Kerala Real Estate

What Makes Investing in Kochi Real Estate A Profitable Investment Bet

By ABAD Group,

Investing in real estate is the best way to increase wealth in India today. The real estate sector is growing at a rapid pace and is expected to grow in the coming years. Upcoming locations like Kochi present a lucrative opportunity for investors. The city has been selected as a smart city by the government of India giving it a special status for infrastructure and economic development. Kochi is one of the fastest-growing cities in the country with a sound GDP growth supported by infrastructure development and a skilled working population.

Let us look at some important factors that prove that investing in real estate in the city is profitable:

1. Location

Kochi located on the west coast of India is a natural port and one of the largest commercial harbors in India. It serves as a major export destination and gateway to important hubs of the world like the Middle East and Europe. The city is well connected by air, road, and sea to major hubs of the country making it easily accessible for trade and commerce. These reasons have favored the growth of real estate in the region.

2. Growing economy

Kochi is the economic capital of Kerala. The city is seeing significant growth in the IT sector with many major MNCs setting up their offices here. The city also attracts many tourists from all over the country and the world. These factors have boosted the growth of residential and commercial real estate. The demand for apartments in Kochi these will continue to grow with a rise in property values and rental incomes.

3. Booming real estate market

The demand for housing, rapid urbanization, and economic development supported by the government’s initiatives to improve infrastructure, have made Kochi a major real estate hub of Kerala. Investors have a wide range of residential and commercial projects to invest in. The growth in property prices in Kochi is one of the highest in major markets. The rental returns are also noteworthy so investing in flats in Ernakulam is a good option.

4. Quality of life

Kochi is known for its scenic beauty and tourist spots in and around it. The city offers a good modern lifestyle yet is unspoiled by the congestion of large cities. It has the best malls, entertainment avenues, and weekend getaways where young professionals can spend quality time. The city also has the best educational institutions, healthcare facilities, and essential facilities that attract many people to settle here. The demand for housing is estimated to grow manifold in the coming years. Investing in luxury apartments in Kochi can generate good returns given the rising demand for these in the city.

Some new trends seen in the housing projects in Kochi are growth in luxury apartments and projects emphasizing sustainability. Investing in these projects will be in line with the future trends.

Luxury Residences in Kerala Look Beyond the Home Buying Trends
CategoriesBlog Home Loan Guide

Luxury Residences in Kerala: Look Beyond the Home Buying Trends

By ABAD Group,

With the demand for luxury living on the rise, property developers compete to offer unique experiences to their patrons today. Luxury residences go beyond opulent properties in posh localities with rich interiors. The new and upcoming projects are innovative and inventive to create experiences that stand out and lure the uber-rich home buyer.

Some of the trends in luxury flats in Kerala are discussed below.

1. Work-life balance

Working professionals today do not want to travel long distances for work. The trend of walking to work is fast catching up. Most millennials want to stay away from the hustle and bustle of the city and strike a perfect work-life balance. Remote working is a reality and luxury homes must accommodate offices with WIFI connectivity. Convenience is the new benchmark of luxury living with many avenues for socializing now included in the premises of luxury projects. Residents can invite guests and families to spend time and celebrate special occasions at world-class cafes, gourmet restaurants, halls, and banquets.

2. Exclusive amenities

Exclusivity lures luxury home buyers as they want to stand out in the crowd and get noticed. Grand architecture, designer facilities, and eclectic interiors add to their confidence. Amenities such as concierge services, fine dining events, extravagant clubs, terrace pools, spas, and mental well-being avenues are not restricted to five-star hotels alone. They are in demand in luxury apartments in Kochi too.

3. Smart homes

Luxury homes integrated with smart technology enhance luxury living by many folds. Smart homes allow devices to be controlled using a remote control or on applications in mobile phones. Luxury flats for sale in Kochi can adjust room temperature, control lighting, adjust sound, and change TV channels using voice-controlled bots. By using artificial intelligence and the Internet of Things devices will be able to communicate with each other and operate independently after being programmed. Luxury smart homes changing the way we live and reducing our carbon footprint by saving non-renewable energy resources.

4. Next-level security

Luxury flats in Kochi are equipped with security features like CCTV cameras and voice recognition systems that provide security to their patrons like never before. These gated communities have trained security guards, firefighting systems, intercom facilities, and alarm systems that work in sync to provide the best security to residents.

These developments in the luxury residences of Kerala are changing how home buyers and investors perceive luxury living.

Real Estate Investment Options for NRIs (Non-Resident Indians)
CategoriesBlog Kerala Real Estate

Real Estate Investment Options for NRIs (Non-Resident Indians)

By ABAD Group,

There are many reasons why NRIs should invest in real estate in India. The most important being that the sector is growing at a record pace and there are indications that the growth will continue in the coming decade. Economic growth is fuelling rapid urbanisation increasing demand for housing and commercial real estate. New projects across price segments in Tier 2 and Tier 3 cities will soon overtake those in the larger cities. And as the demand increases the returns on these investments are bound to improve on long-term investments. NRIs with a large corpus of funds can be assured of healthy returns if they buy property in India.

Let us look at different options for NRIs who wish to buy property in India:

Residential Real Estate

The options for NRI real estate investment in residential property are plenty. Depending on the long-term use and budget NRIs can choose to invest in metro cities, Tier 1, Tier 2, or Tier 3 cities. The large-scale infrastructure developments across cities are creating new markets in suburbs of large cities and new micro markets. Tier 2 cities are now attracting serious interest from developers in Kochi and investors as there are many projects to invest in at prices that are lower compared to large cities.

With an overall prediction of growth in the sector, returns on investment in smaller cities can be as lucrative as those in large cities if not more. There are many types and formats of residential properties ranging from flats, apartments, independent houses, villas, and plots to luxury and ultra-luxury segments with innovative amenities to fulfill the personal and social aspirations of the residents. The development of self-sufficient townships that have all the features of residential projects with social infrastructure is on the rise meeting the demand for these by modern home buyers.

Commercial real estate

Although commercial real estate requires more capital for investment it also commands higher rentals and prices. The economic growth is fueling the growth of current and new businesses which ultimately require commercial spaces for their operations. Investing in retail spaces, office properties, industrial plots, mixed developments, and warehouses can be highly lucrative for NRIs. The investors can be assured of healthy returns as the economic growth is expected to be robust till 2030.

Real Estate Investment Trusts (REITs)

REITs are funds that invest in real estate stocks in the capital markets. The returns earned as rentals and mortgages are paid to the investors in the form of dividends. These investment instruments are like mutual funds where investors do not individually buy or invest in properties but instead invest in a pool of real estate equity.

These are the various investment options in real estate that NRIs can invest in. It is always advisable to perform due-diligence before investing in any property or instruments by consulting industry experts and doing market research.

The Growing Demand for Sustainable Housing in Kerala
CategoriesBlog Kerala Real Estate

The Growing Demand for Sustainable Housing in Kerala

By ABAD Group,

God’s own country is known for its scenic beauty and rich cultural heritage. Nature has been generous with the state in blessing it with breathtaking landscapes, serene mountains, golden beaches, and a clean environment. The richness of the land needs preservation and the residents of Kerala are realizing this.

With the demand for eco-friendly and sustainable homes increasing steadily, most builders in Kochi know that it is the future of real estate in Kerala. Eco-friendly homes offer a healthy environment to live in as well as several financial benefits to leave behind a legacy for future generations.

Sustainable Housing

Construction of homes by traditional methods increases the carbon footprint due to excessive use of concrete, emission of greenhouse gases, and depletion of natural energy resources. Sustainable housing focuses on reducing environmental degradation and conserving non-renewable resources.

1. Energy efficiency can be achieved by using renewable energy resources like solar energy panels, energy-efficient appliances, and homes designed for natural lighting and ventilation. Wind, hydropower, and biomass are other sustainable options.

2. Sustainable materials like eco-friendly bricks, stone blocks, limestone blocks, and eco-friendly cement can replace traditional building materials with a high carbon footprint.

3. Conserving water by employing rainwater harvesting, recycling, and reusing household wastewater and better water management systems can go a long way in conserving water.

4. Waste management like the segregation of waste and recycling waste for composting that can be reused in the residential ecosystem are ways of improving efficiency.

Benefits

Eco-friendly sustainable homes offer several benefits to residents.

1. Energy and water-efficient homes help reduce utility bills adding to the savings.

2. Sustainable materials have a longer life and reduce the cost and effort of maintenance.

3. They offer a healthy lifestyle in an environment with a lower carbon footprint and by using natural resources like wind and sunlight.

Trends

1. Most projects in Kerala now aim to get green certifications such as LEED and IGBC to promote eco-friendly homes in high demand.

2. Energy-efficient buildings and vertical gardens are common in any property in Kochi including luxury properties proving that luxury and sustainability can co-exist.

3. The presence of open green spaces allows for a healthier lifestyle by promoting physical exercise like walking and outdoor activities.

4. Smart homes and home automation can help optimum utilization of resources reducing carbon footprint.

The Kerala government has made a great effort to promote sustainable real estate development by introducing green building norms and incentivizing eco-friendly practices. By educating home buyers to opt for sustainable homes and eco-friendly living practices the demand for sustainable housing has a green future.

Exploring Real Estate Investment Opportunities in Kerala
CategoriesBlog Real Estate Investment

Exploring Real Estate Investment Opportunities in Kerala

By ABAD Group,

Kerala is one of the top investment destinations in India. Several reasons like a booming economy, changing buyer preferences, IT growth, and rising tourism in the state are responsible for this. The state is one of the top investment destinations for high-net-worth Individuals (HNI) and Non-resident Indians (NRI). Kerala is already known to receive one of the highest international remittances in the country. The new opportunities in the real estate investment landscape present a bright future for the industry in the coming years.

Real Estate Ecosystem

The Kerala real estate market is expected to undergo several transitions in the coming few years. The rapid urbanization driven by the growth of several industries like IT and Tourism will boost the demand for residential real estate. The demand for homes that blend elegant architecture, modern design, and seamless connectivity is increasing as millennials are making conscious choices for their homes. Smart home features and energy-efficient designs are shaping the evolution of new projects in Kerala. The importance of sustainable and eco-friendly projects is gaining more value every passing year.

Top locations

Kochi

Kochi is the perfect blend of growing employment and economic opportunities, natural scenic surroundings, and growing infrastructure. Builders in Kochi realize that these factors make it one of the top investment destinations in the state. The annual appreciation in property prices and rentals makes property in Kochi one of the favorites for HNIs and NRIs. Important infrastructure developments like the Kochi Metro project being expanded with the Kochi Water Metro project and improved road connectivity will have a significant impact on the property market.

Thiruvananthapuram

The capital city of Kerala is becoming the next growth hub of the state with a major demand for both residential and commercial real estate.

Technopark of Trivandrum is one of the driving forces for the growth in housing and retail spaces.

Upcoming cities like Kottayam and Palakkad are the next growth destinations for real estate in Kerala. The infrastructure growth and connectivity to other locations in the state make these cities ideal investment destinations as they gain attention as the nest growth destinations. Kozhikode is known as the cultural hub and education destination because many reputed institutions offer professional courses. It has a good mix of residential investment options.

Residential

An investor has many options to invest in the state, right from flats, apartments, villas, and independent bungalows to luxury and ultra-luxury homes. As the affluence of the home buyer and investor increases the demand for luxury and ultra-luxury homes is seeing significant growth. The state’s natural beauty and cultural heritage make it an ideal location for hospitality real estate like vacation rental homes, boutique hotels, resorts, restaurants, and cafes.

Commercial

The IT sector has changed the face of Kerala as it continues to grow every year. Commercial real estate like office spaces and business parks offers lucrative investment opportunities as commercial real estate offers higher returns.

By conducting proper due diligence and effective research investors can make the most of the profitable opportunities that Kerala real estate investment presents in the coming years.

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