Akkulam gets another real estate facelift with Heera Lakefront

There are always takers for pristine beauty and Akkulam lakefront in Trivandrum is no different. Being strategically located close to Technopark makes Akkulam a favorite with real estate customers and developers alike. Most large builders have mulled one or two developments close to the Akkulam bridge and the most recent among them being the 19 story Heera Lakefront apartment that is coming up in 75 cents of land at Akkulam overlooking the lake. The project commenced in August 2012, consisting of 69 luxury apartments and is expected to be completed by end of 2015.

The project has to its credit good connectivity to Technopark, Airport and the International Convention Center. With a spate of new mall developments expected to come at Akkulam in the next few years, the area is likely to become highly favored with techies and truly change in its outlook. 

The project boasts of amenities such as  Indoor recreation area/Association Room,Wi-Fi enabled AC Lobby, Fitness Centre, Children’s Park, Open Party Area,AC Home Theatre,Roof Top Party area etc. The project has 2 and 3bhk variants ranging from 1227 to 1705 sq.ft in area.

Other real estate developments at Akkulam include PRS LAKEVILLE project, SFS WATERSCAPES and ARTECH LAKE GARDENS project.

How tall buildings are changing the face of Trivandrum Real Estate

If one where to visit Trivandrum in the early 80s or 90s you would be much likely to spot coconut trees and a majority of one or two storied houses or commercial buildings which ran into a few floors. Come 2012 the face of Trivandrum real estate has changed and has now reached an inflection point where lack of available land in prime locations has forced developers to construct taller buildings which literally touch the sky.

One of these tall residential developments in Trivandrum is the Nikunjam iPark apartments that is coming up near Technopark. It is a 36 story residential building, one of the tallest ones under construction in Trivandrum. When this skyscraper pierces through the Trivandrum skyline by middle of 2014 when the construction is set to get over, Trivandrum is expected to have many more residential buildings which cross 30 stories. If you were approaching Trivandrum by train, the SFS Cyber Palms projects which is a 20 story building will definitely catch your eye at Kazhakootam. The Nikunjam iPark will better that by 180%.

So what's with living in tall buildings that's suddenly caught the imagination of the people. With the duplex apartments in iPark already booked although being in the top most floor and costing in excess of 1.5cr in value, there is a section who will pay a premium for a panoramic view of the city from the sky. The builder has prudently called this duplex unit a sky villa. One of the customers who bought an apartment in iPark told us that the infinity pool on the 28th floor and a dip in water at such a height is truly what drew him to the project. Having served more than 200 customers over the last 2 months we would tend to agree that the mindset of the Keralite is truly undergoing a dimensional change. 

When Trivandrum goes the Mumbai way in launching more tall skyscrapers the Malayalee is slowing realizing that the days of his 2 story building has just taken a 10x leap into the sky!

Property in Trivandrum looks up in 2013 - Have you done due diligence?

If the initial trends in the month gone by are to be believed then the Trivandrum Property market is showing signs of upward movement and may move significantly in the months to come. As per our information from HFCs and banks, loan disbursements continue at a healthy rate in Trivandrum and there is renewed enthusiasm from investors due to the lowering of interest rates by the reserve bank recently by 25 basis points. Although that number might sound trivial to start with, a small reduction in loan interest rates can make a large difference in the long run as pointed by us in this article on how change in interest rates on home loans could affect you.

Villas and apartments on Sale in Trivandrum - A majority of customers come to us looking for both villas as well as budget and luxury apartments on sale in Trivandrum. A careful analysis on the buying cycle done by our sales team tells us that about 25% of additional time is spent by property buyers in Trivandrum (in a sample of more than 200 customers we have dealt with in the last month) for ensuring the sanctity of the deal - which covers ownership, title deeds, encumbrances and a host of other factors.

Customers who approached us also mentioned that in about 5% of the properties in Trivandrum they were looking to buy, the owner, had still not completed the requisite documentation in the village office and at the Trivandrum corporation. Some customers also complained that due to the bureaucracy involved in the whole process and due to paucity of time, it was not worthwhile to go through real estate websites which had advertised a property without enough due diligence. These customers had backed out from the original transaction and approached us for advice.

Some of the key documentation procedures involved include: Survey office documents, Transfer of electricity and water meters from respective authorities,  Corporation documents etc. 

This is where real estate advisors at Nandanam Consultants play a significant role in doing all necessary due diligence on the property before it is advertised on our website or shared with our customers so that they can buy a property in Trivandrum with complete peace of mind knowing that all aspects are taken care of.