Kochi or Ernakulam is one of the fastest-growing cities in India. It is ranked 5th among 20 chosen smart cities that will receive funding for infrastructure development. The fast-paced economic development is attracting many professionals from all over the country to make the most of the opportunities Ernakulam presents. Hence, the demand for residential real estate is increasing year on year. Builders in Ernakulam are coming up with many new projects in Kochi to meet this demand. Buyers are seeking apartments, flats, villas, and independent houses for residential and investment purposes. The most important aspect while choosing a new apartment is the location. The location determines many factors that ultimately lead to buying a home of one’s choice.
Let us look at these one by one:
1. Locality
The locality is the most important factor that influences the decision to buy a home. Within a location, different localities, suburbs, and districts can be classified as premium, mid-segment, and budget. The apartments in these locations are priced accordingly. For instance, premium localities like Marine Drive and M.G. Road charge a premium for the backwater views and well-developed infrastructure. Kakkanad and Vytilla are localities where builders of Kochi offer budget apartments and villas.
2. Connectivity
Every neighborhood, locality, or suburb in a city may be well-connected or poorly connected to the important hubs. Depending on the ease of connectivity and development of infrastructure in the vicinity, a project can command a premium. Well-connected projects are also preferred by homebuyers and investors for the ease and comfort of living. If located in the city’s center with good connectivity, the value will be higher than that of a property located in the outskirts. Most luxury flats in Kochi are often located close to major hubs easily accessible by public transport.
3. Schools and Colleges
Several options for schools and colleges to choose from give parents one less thing to worry about for their ward’s future. The proximity of the educational institute, especially for children, is always a major factor for homebuyers when choosing new homes. Ernakulam is known to be an education hub with a wide variety of good educational institutes offering professional courses.
4. Healthcare
Hospitals, healthcare professionals, and dispensaries are as essential as any other amenity for a healthy and fulfilling life. One would not want to travel long distances during sickness or waste valuable time during medical emergencies. The closer the healthcare facilities, the better the project value. Be it uptown localities like Thevara and Ravipuram or budget localities like Kakkanad and Edapally, Kochi offers good healthcare options. All these locations offer apartments in Kochi that are preferred by new home buyers.
5. Recreation
A good social life is what everyone looks forward to during weekends. There should be no dearth of shopping malls, cafes, parks, museums, and places to visit within the suburb one is living in. Socializing with friends and relatives should not become a major task because you live in a remote location in the city. Choosing a location with ample avenues for recreation is essential.
The budget is an important factor when choosing a home that is in a locality with the best conveniences and infrastructure. Localities with all the conveniences usually charge a premium while those with limited options are cheaper.
