Ideal Land Parcels in Trivandrum surge in demand. Do you own an acre?

With renewed interest in villas from real estate customers looking to invest in Trivandrum, land parcels in the city (1 Acre or more) have suddenly surged in interest in the last few months. This interest is predominantly being felt from the villa developers in the city as per the property management team of Nandanam Consultants.

Villa developers need lesser area compared to flats and land parcels can range from 1 Acres to 5 Acres for villas. Appreciation values for property being at an all time high, flats in cities like Bangalore have appreciated close to 12% for a majority of areas, while prices for villas have rapidly increased even going beyond 2Cr+. Trivandrum seems to be following a cue from that, although today most villas range from 50 Lacs to 75 Lacs and are in the affordable range.Since developers are mulling super luxury villas in Trivandrum, you could see villas in 1-5Cr range being launched within 2015.

From a property perspective a villa builder or the property management team at Nandanam Consulants evaluates a plot based on these parameters to judge if it is ideal for villa development:

Distance to CBD or Development Zone - A study done in Ohio (United States) for a period of five years and another done in Sydney (Australia) point out that distance to CBD is a critical determinant of real estate prices. Most researchers argue that this variable is more critical than accessibility although positive correlation does exist for the latter. However as cities become poly centric with multiple CBDs instead of being monocentric, real estate prices would be determined with respect to proximity to a particular CBD in the zone or the suburb. At present only MG road could be considered as the central business district within Trivandrum with a majority of banks, retail and business houses located in the area. With new retail and business hot spots emerging at Vellayambalam, Pattom and Kazhakuttam, new CBDs could emerge within the next decade in a poly centric model within the city and change the real estate pattern.

Promixity to Highways and Expressways - Properties located up to 1kms from major highways and expressways showed a much higher value and appreciation and are highly considered for villa development.

Proximity to Regional Shopping centers - Real estate which is in proximity to malls, and other regional shopping centers are also in favour of developers.

Shape, Amenities, Utilities and Nature of the Land - Shape of the land includes verification if the shape of the site is fit for building construction or not. Nature of the land includes ground water availability, height of the water table, if it is wet land or not i.e. if it the land is prone to flooding, load bearing capacity of the mud in the land, height of the rock bottom etc. General amenities usually considered by builders include water front, sea view, greenery etc.  Utilities include availability of water, electricity, telephone at the project site. The design team of the builders usually consider all the above four factors before deciding on the plot of land.