Buying flat in Kerala - New Trends, Buying patterns, Things to Consider

Change in the Home Buying Pattern, Things to Consider for Apartments in Trivandrum

In  the last decade or so, there has been a significant change in the home buying behavior and the demographic segment buying apartments in Trivandrum and Kerala in general. 

Today a typical person buying an apartment is not always in late 50's but more so in and around 30's. Most young couples or unmarried individual's who earn a handsome salary, consider a budget flat or a luxury apartment as a future investment and likewise a means of saving. The type of apartments in demand has also changed in the recent past with families looking for more compact accommodation and facilities like swimming pools, gym, security, CCTV etc. in additional to normal features. Young couples often do their research on the internet, visit model flats and form a mindset before buying a new apartment. 

New Trends witnessed in the Apartment sector in Kerala

One clearly visible trend is much more clarity of thought with apartment buyers. Most flats built today are designed keeping in mind a particular demographic section for e.g 40 year olds with 2 kids. In such a situation architects and designers would usually prioritize and cater to larger drawing rooms and spacious dining spaces. In addition there could be three or four bedrooms depending on the size of the family. Such apartments can have square feet sizes from 1800 to 2700 sq.ft. The other clear segment are young couples or singles who prefer single or two bedroom flats from 900 to 1400 sq.ft. A usual variation is a 2.5bhk with 3 beds and 2 bathrooms. Young couples also want swanky living spaces with jogging tracks, pools, gyms etc. irrespective of their use for them or not. These features serve the aspirational values of today's young generation and they are often ready to pay premium rates for these flats compared to those that dont have them.

What builders consider while choosing a plot of land for building flats

Builders usually consider four things while choosing a plot of land for building an apartment.  These are:

• Shape of Land
• Nature of Land
• General Amenities
• Utilities

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. 

Things to Consider while Buying a Flat

Furnishing and Interior Design in Apartments 

Today even children have their own views about how they want their rooms and it's interiors within a flat. Furnishing homes has opened up a large opportunity not only for interior designers but also custom decor companies making their way into India. IKEA and other retailers waiting to enter today's market is just a inkling of the huge market potential available. In Kerala, unlike some other states wooden furnitures make way into most homes, villas and apartments. Besides the use of soft and hard wood in interior design two key aspects which are often overlooked are lighting and placements. Often the average home buyer is unaware of these nuances and a majority of the population even today does custom designs of homes  or flats employing craftsmen. An alternative could be to employ the design services of a builder which comes as a package deal or work with reputed consultants who bring all the experts from kitchen to wardrobe designers as well as lighting experts to the table. These approaches can ultimately make a huge difference to the way a home looks and feels and have a positive correlation on its selling price.

Availability of Water in your Apartment

Availability of good water is one of the most common questions buyers ask while buying an apartment. With some parts of Kerala affected by water shortage and scarcity it is not surprising that this is the case. Typically in a flat, water is provided from three different sources:  

Sources of Water in a Flat:

1. Ground Water - Wells or Borewells 
2. Rain Water Harvesting - This is facilitated by water stored underground in a tank to be used later
3. Kerala Water Authority water - This is the water supplied by the Kerala Water authority.

As per studies, the water requirement per person on a daily basis is around 100 to 120 litres of water. This water could be used in the flush, for gardening, for washing cars and for other purposes. In a well designed and architected building, the drinking water is provided through Kerala Water Authority or it is stored in Special Tanks from where it is supplied to all the apartment units. You must always check with the builder about the water supply in your apartment before buying your flat. As a benchmark, think about this. An apartment building in Trivandrum with 100 units will require about 12000 litres of water in a given day. If the apartment is equipped to handle water recycling and it avoids unnecessary wastage, then this could have a huge implication on water availability through out the building even in times of drought or water shortage. 

Documents to be verified while Buying a Flat

The following things are important to consider while buying a flat. Usually before constructing a flat the builder can operate in two ways - either as the land owner or as the developer. As a customer you must consider if the land ownership documents are available with the builder or not. Other items include the total built up area (Saleable area), Common area etc. which the builder should inform you about. The builder should also obtain approvals from the local body, the Pollution Control Board, Fire and Rescue department's Fire NOC (No objection certificate), Local body building permit etc. 

The land title will be in possession of the builder and the customer can ask the builder for it to ensure that the land owner does not create an issue later about encumbrances. You must also understand if the land tax receipts, building permit certificate, local body occupancy certificate, fire noc etc. has been obtained by the builder or not. 

Once you occupy your apartment you would need to get receipts for electricity and water deposits, building tax etc. and the builder would do an ownership change to you. The builders liability really ends only when the apartment owners association has been formed and the maintenance of the flat has been handed over to the association. The hand over usually happens 3 to 6 months after the flat becomes ready for possession.

Trivandrum Real Estate 2012 - Apartments in Kazhakoottam, Kerala

Property, Projects, Real Estate Trends and Price analysis of Apartments in Kazhakoottam, Trivandrum, Kerala

A recent survey conducted by the market research team of Nandanam Consultants, across 64 locations in Trivandrum over a period of two months, analyzed the following trends in each of these small micro markets in Trivandrum. 

Our survey methodology included focus group discussions, email, telephonic interviews, questionnaires, and meetings with reputed developers who operate out of these micro real estate markets in Trivandrum. We used regression and statistical modeling methods to arrive at a cause effect relationship and understand the underplay between factors that affect property prices in the Kerala and specifically the Trivandrum real estate market. What follows below is an executive summary of the property trends at Kazhakuttam and areas surrounding Kazhoottam. For an indepth understanding of Flats on sale at Kazhakoottam, buyer feedback, price determinants in Kazhakoottam, builder reviews in Trivandrum, and apartments in Trivandrum, please reach out to the Nandanam team.

About Kazhakuttam - Source Wikipedia

Kazhakoottam (Malayalam: കഴക്കൂട്ടം) is a locality in Thiruvananthapuram city, the capital of Kerala, India. It is located on theNational Highway 47 on the way to Kollam from the city, and has gained in significance because of proximity to Vikram Sarabhai Space Centre, and, Technopark,the IT center which is the first and largest of its kind in the country. The Sainik School is also situated in this area. Kazhakoottam is the first ward of Thiruvananthapuram Corporation.

Our analysis of the Kazhakoottam, Trivandrum real estate market covered the following aspects: 

1) Evaluation of new and ongoing projects by developers and builders at Kazhakuttam in Trivandrum. 

2) Forecasting calculations on the number of units being created afresh and that are outstanding to be sold at Kazhakoottam based on available market data.

3) Survey of home buyers who purchased flats at Kazhakuttam or those who took houses on rent in the Kazhakoottam market in the past one year and their feedback on rents, price and overall living conditions at Kazhakoottam.

4) Analysis of Flats for Sale at Kazhakoottam and the average sales value of Flats in Kazhakootam per sq.ft.

5) Occupancy levels on apartments in Kazhakoottam area and factors affecting home rentals and occupancies.

Flats for Sale at Kazhakoottam, Trivandrum

Our team looked at existing and ongoing or recently announced projects at Kazhakootam with a focus on the 2011-2012 time frame. Of the total of over 250 projects which are under construction at the moment in Trivandrum, Kazhakoottam has a pie of 30 projects which is about 12.5% of the total construction activity in Trivandrum. That's a massive number for a small city like Trivandrum which means that out of a total of about 35,000 units which are under construction all over the city, approximately 4000 units are coming up at Kazhakuttam. 

Occupancy levels, Rentals and Sales Price of Flats at Kazhakoottam, Trivandrum

Our forecasts based on samples collected, showed that on an average, units which are within 1.5 to 2 km radius of Technopark or Infosys campus at Kazhakootam, recorded occupancies higher than 75% which means that there is a real demand for apartments in close proximity to the IT hubs. Results also showed that factors like amenities present, nearby schools, quality of homes also played a role in occupancy levels. Outside the zone of 2 Kms to the IT hubs, occupancies varied with a negative correlation to distance from the offices as well based on values of flats. Luxury flats above 1cr, showed less occupancy indicating that some where bought for investment purposes. Highest occupancies was usually for 1 or 2BHK apartments at Kazhakootam. Luxury housing was usually preferred by senior management of IT companies with employees at mid and junior levels going for 1 or 2BHK options. Employees from companies such as TCS, Infosys, Oracle and US Technologies formed the majority of occupants at flats near Kazhakootam, Trivandrum

Historical Sales values as per data collected by us for flat and home transactions from 2010 -2012 showed that, compared to earlier trends, currently Kazhakootam offered deals to home buyers in the 40-65 lacs range predominantly for apartments. The area had property values at 2500 per sq.ft in prime locations prior to 2008, but has crossed over to 4500 per sq.ft. for these properties as we enter 2011-2012.

Rentals varied with property and ranged from Rs.8,000 - Rs.17,000 for 1BHK or 2BHK apartments based on proximity to Technopark, area in sq.f.t, furnishing in the apartments, closeness to utilities and amenities offered.

Size of the Units of the Apartments on Sale at Kazhakoottam, Trivandrum

For a majority of 4000 units coming up at Kazhakootam, the average unit sizes are 2 Bedrooms ranging from 910 - 1100 sq.ft. with a median of 950 sq.ft. Most of the units tended to be over 1000 sq.ft. and developers  in Trivandrum seem to have gone for this as a benchmark when designing and architecting the units. Kazhakootam also offers units across the 1BHK and 3 and 4 BHK ranges, the former with single bedrooms and the latter catering primarily to the affluent sections with prices ranging from 60 lacs to 1cr+ for some apartments.

Developers and Builders at Kazhakoottam, Trivandrum

Interestingly over 19 builders out of the 56 builders (i.e. about 33%) in Trivandrum seem to having an eye on the pie at Kazhakoottam in the list of 30 projects coming up, showcasing that no one wanted to miss out on the real estate action there. The underlying effect seems to be a hungry scout for lands in the Kazhakootam region for these projects and price escalations of even 100% for lands in areas with close proximity to Infosys and Technopark in the last one or two years.Our survey also showed that no single developer was willing to put all eggs in one basket and barring a few, none of the developers had 3 or more projects underway at Kazhakootam, with most focussing on a single apartment or villa project at Kazhakoottam. 

Developers with projects underway at Kazhakottam (with respect to number of projects in descending order are): Oceanus, Favourite homes, SFS, Skyline, Cordial, Creations, Future, SRK, Vijaya, Asset Homes, Aswathy, Big Infra, Condor, Confident, Goel Ganga, Kristal, Nikunjam, Olive and RDS builders.

Luxury Real Estate - Villas and Apartments on Sale at Kazhakoottam, Trivandrum

Going by the true definition of luxury real estate at Kazhakootam, few of the projects completed and very few ongoing had amenities which could fit the bill to enter into the real luxury segment. SFS Cyber Palms project took the icing on the cake across all the projects, not only with CRISIL 7 star ratings, but with home buyers in the property expressing extreme satisfaction on their purchase, amenities offered and real estate appreciation.

The property also earned 8 out of 10 credits in our survey with existing lessee's in the project, interested in buying homes if available at reasonable prices in this project. Some projects like Heera Infocity, SFS Cyber Palms, Big  Infra and Asset Signature, seems to have earned significant mind-share of prospective home buyers who are looking for an investment in the area, and many were ready to pay extra to buy their next property if available at a good price in one of these four projects.

Assessing risk of buying projects in Kazhakoottam, Trivandrum

We are constantly faced with uncertainty, ambiguity, and variability especially for home and real estate investments. And even though we have access to information, we can’t accurately predict the future. Monte Carlo simulation (also known as the Monte Carlo Method) lets you see all the possible outcomes of your decisions and assess the impact of risk, allowing for better decision making under uncertainty.

We used Monte Carlo simulation and other techniques available with statistical tools to estimate risks to a home buyer based on property trends and price values in Kazhakoottam, Trivandrum and comparing it with the Trivandrum and Kerala real estate market. The risk quotient varied significantly based on timeliness, price ranges and depending on if the property was being bought for investment or stay purposes. Overall it showed that Kazhakootam may not be ideal for an investment in a second flat since projects were getting delayed due to lower number of transactions in the last year or so and also due to a slow growth phase in the IT sector. Our real estate agents and experts point to looking for value deals at Kazhakoottam, and making prudent decisions based on location, services, quality and delivery. You can also contact us for our comparable analysis which can help you compare projects across Trivandrum which might offer same value or appreciation like Kazhakootam at similar budgets.

Summary of our analysis for home buyers at Kazhakoottam, Trivandrum

For those home buyers who entered and bought properties at Kazhakootam, in the pre-2010 time especially 2006-2010 phase, seem to have got good value for money for their investments, especially if the projects were from reputed builders, and were completed in the stipulated time. Some buyers expressed their deep dissatisfaction with a few builders who handed over projects 2 to 3 years later than promised. Our advice would be to talk to a reputed real estate consultant, especially if you are keen on Kazhakootam and are looking at the existing inventory available there. For all you know, there might be a couple of great deals for you to invest in at Kazhakootam!

To remain updated on the trends in the Kerala and Trivandrum real estate market, connect with us on Facebook

Why buy property or apartment in prime residential area in Kerala?

If you look at property trends in the major IT cities in India, especially Bangalore or Hyderabad, you would notice a peculiar trend. Once the influx of IT companies and IT SEZ's come into the city, the first areas to appreciate in terms of capital values and rental incomes is the CBD (Central Business District or City Center). 

In an earlier article we had mentioned how different factors affect property appreciation. Amongst these the proximity to CBD was a critical criterion in property appreciation. In Bangalore as more people moved in to the city in the last decade, the space crunch near CBD meant developers looked for areas where IT SEZ's could spring up. The first of these was Electronic city in Hosur road, which saw steep appreciation in 2003-2007.

During this period however as companies could not get enough space in and around electronic city, more companies moved to Whitefield, Sarjapur Road and Domlur which sprang up during late 2000's as attractive destinations. Since Senior management of these companies wanted plush real estate, property prices in these areas saw a major upswing in this period. The point we are trying to make is that as new areas emerge property prices sees appreciations of 20 to 30% year on year for a particular period, and then seems to stagnate or grow slower with time.

When it comes to Trivandrum, due to fewer options available for land within the city limits at places like MG Road, Kowdiar, Statue, Vazhuthacaud, Pattom etc., builders and developers are more likely to come up with projects in the suburbs or new areas in and around Kazhakuttam which have land availability at relatively affordable rates.

Now going back to the Bangalore scenario, today areas like Hebbal which came up as hot destinations in the last 2 to 3 years due to the proximity to Manyata Embassy Tech Park, has property values from 4000 to 8000 per sq.ft. The advantage is two fold with these areas, as they offer the resident a place close to work and about 30 minutes from the CBD. While the apartments in the CBD itself in Bangalore record values of upto 30,000 per sq.ft, those in Mumbai come to close to 70,000 per sq.ft. especially in South Mumbai.

So what's the takeaway? The Kerala real estate development seems to be following a similar trend like Bangalore. The Info park in Kochi or the Technopark in Trivandrum are the hot IT destinations at the moment. As time passes, new areas would emerge, however MG road and posh residential areas within proximity to CBD would only appreciate faster. A prudent investor or home buyer should thus look for prime residential areas if they have availability to sufficient funds to go for such a property. Rental values from these properties might be similar to a property in the suburbs in the short term, however capital value of the property would be much higher in the longer term. 

Whether values will touch 30,000 per sq.ft like Bangalore? Only time will tell. But one can be reasonably sure that a decade or two down the line, the reality in Trivandrum may not be too different.

Kerala Real Estate Trends - Developments and Property in Kochi, Trivandrum and Kozhikode

Some of our customers have been requesting us to write about the prevailing trends in the Kerala Real Estate market. So we thought we will discuss about it in this article. Since Real Estate is an area where trends of price, developments could change not only at a macro level but also at a micro market level, it is quite a difficult task to pick one amongst these developments as a trend.

By definition, "Trend is a change or a general direction in which something is moving for a given period of time". To summarize trends in the Kerala Real Estate market, let us take a look at the major markets of Kochi, Trivandrum and Calicut. As you might know, most realty developments in Kerala follow a hub and spoke model with these three cities, getting the major share of attention when it comes to real estate investments and new developments.

Kochi: 

Kochi really was the real estate hotspot in 2007-2008, with developers like DLF, Sobha Developers, Ansals, Purvankara, Confident Group, Oceanus, Unitech, Nitesh Estates, Housing Development and Infrastructure (HDIL), Prestige Group, Emaar MGF descending and announcing projects worth over $2.5 billion. Sobha announced the Hi-Tech city in Maraadu, DLF purchased close to 4 acres from the State Government and HDIL purchased a 70 acre plot for developing an IT park. The result - Property prices shot up by over 60% during this period and developers had the last laugh as bookings were plenty, especially from investors. A look at the RESIDEX of Kochi  clearly tells the story wherein with a base of 100, property prices shot up over 2010-2011 but crashed in the following quarters. We have analyzed the speculative nature and the bubble formation in our earlier article on Kochi.

Today after many quarters of decline, property prices in Kochi seem to have achieved some degree of stability. If announcements in Emerging Kerala go as planned, and Kochi metro is delivered within 4 years, there is scope for some happiness and real appreciation in a few years time. With a total length of 25 kilometres from Aluva to Pettah, the Kochi Metro would not only be the smallest of the metro-rail networks, but would also relieve the congestion in the city and pave the way for developments along the metro corridor. The other big development here is the Lulu shopping mall coming up with an area of 25 lakh sq.ft.

As far as micro market developments in Kochi are concerned, you need to divide the city into various zones and look at new project annoncements which are being made to get a pulse of the market. For further information, please contact our team at Nandanam and we will be happy to assist you with the same.

Kozhikode:

Kozhikode is not only the third largest city in Kerala but also the state’s second largest urban agglomeration with a metropolitan population of 20 lakh plus people. The major population of the city is employed in the Middle Eastern countries. Their remittances are the major source of economy of the region. The city has around 40 IT companies operating at the moment which is quite small compared to the number of companies in Kochi or Trivandrum. Given the proximity to Bangalore & Mysore (which are just 6 hours and 4 hours away respectively) and the presence of educational institutes like IIM Kozhikode, the city could prove to be a major IT hub in the coming decade.

Some interesting projects on the anvil at Calicut are the  HiLite City, a first of its kind urban integrated township with 32 lakh sq. ft. of residential, commercial and retail spaces awaiting completion by 2013. The total project cost of HiLite City is put at Rs.900 crore.  The other one is the mono rail project. As reported in the Hindu " The monorail project, envisaged by the Kerala Road Fund Board, has two components — the development of monorail for 12.60 km from Government Medical College Hospital to Meenchantha and the operation of exclusive buses to the Calicut International Airport. The estimated cost is Rs.1,018 crore." The Lulu group is also planning a convention center in Calicut once existing projects are completed.

Trivandrum:

As far as Trivandrum is concerned, majority of the developments have been happening in pockets like Vattiyoorkavu, Vazhuthacaud, Vellayambalam, Technopark etc. The influx of IT professionals to the city at Technopark, has given a major boost to the real estate developments in the city. You can read more about these developments here.

Trivandrum is also looking towards the monorail development to augment the growth in its micro markets, which might be located far away from the CBD or the IT hub. The development of international stadiums at Kazhakootam and Vattiyoorkavu have also increased real estate interest in these areas. When the 32 projects to be implemented in Thiruvananthapuram district were presented before the investors at the Emerging Kerala-2012 summit, only five project proposals were received by the government.The biggest project is the Engine Assembly Unit of Volkswagen at an estimated cost of Rs 2,000 crore which might be coming up at Trivandrum. Ravi Pillai, founder of the RP group plans to invest Rs.1,000 crore in Trivandrum to set up a world class convention center.

Property Prices in India and around the world - Economist. Fair Value and Trend Analysis.

The  Government of Kerala  has declared a fair value of land in all parts of kerala . From the link here you could see the fair value of your property provided you can provide some minimum details on the tool.

Recently the Economist magazine reported trends in property value across the countries in the world, which makes some interesting reading. Out of the 21 countries that economist tracks 12 of them dropped in prices, and 5 of them gained. As per Economist "Many markets are returing to “fair value”, defined as the long-run average ratio of house prices to disposable income and to rents. Housing is now around or below its fair value in eight countries."

If we look at the charts below which shows property value trends in developed countries, over the last 37 years from 1975 to 2012, property values has shown tremendous gains. In some countries like Australia, the values have sky rocketed in the last decade or so. So while the largest market, United States is now picking up after a huge drop, the more a market is closer to its fair value, the prices seem to rise from thereon. In Spain which is reeling under the Eurozone crisis, prices have fallen 23% from their peak in 2007 (A note: Kochi prices fell 32% over the last three quarters and we now believe it has stabilized).

In the Asian countries, Hong Kong prices which were sky rocketing at 28% growth yoy is now growing at 6% yoy. Hong Kong prices had increased by about 67% since 2007 and followed only by Austria which reported a 23% increase since 2007. The biggest casualty of the price drop, Ireland has seen prices drop by 49% in the last 5 years.

So from an investor perspective in India, what does one make out of these global trends?

1. For one, it is clear that, after years of dizzying ascents, it seems like a big bulldozer has hit residential-property markets around the world and stabilized them to a large extent.

2. If you take the case of United States for example the housing bubble threw out some interesting facts. For many middle- and lower-middle-income Americans their home made up nearly all of their wealth. They were largely invested in a single asset that did very poorly in this period. Richer Americans, who held other assets, did not see such large declines. This demonstrates how important it is to diversify your wealth, even when you don't have much of it. It appears that there seemed to be a mentality that you should buy as much housing as you can afford, not as much as you need. That may be because of the pervasive view during this period that housing is always a good investment.

3. The case is not too different in India. During times of rapid ascent in property prices and going by trends world over, it is good to stop short and take a closer look and not go blind foldedly and invest. A well diversified portfolio consisting of government bonds, MF's, FMPs, VPFs would help a youngster in mid 30's to earn a good retirement income even if property crashes or stabilizes in the next decade.

4. To reduce the risk from your property portfolio, it is very important to do your ground research well and choose the property. Tie up with a good property consultant, who understands your financial situation and then advices you on the right kind of property go for.

5. Keep a track of price trends, fair value and other market indices to understand if you are over paying for your purchase or under selling on the property value. Negotiate well and don't hurry into your decision.

6. Take a long term view into investments and avoid short term investments unless you are aware of market realities.

Realty growth is here to stay in India and in Kerala, especially with burgeoning population figures in our country. But speculative investments in property, often made due to impulse buying and hearsay, may not be a good idea, unless backed by a good understanding of the overall market. After all the objective behind buying real estate may not always be a wish to own your home, but to become wealthier in the longer run. A good portfolio of assets and knowledge of how to build it, would always come in handy compared to risk prone, myopic investments in a few assets.

The Kerala Real Estate Market Report - January to June 2012

We are happy to share with our readers the first edition of the Kerala Real Estate Market report from Jan - June 2012 by Nandanam Consultants. The report provides an overview of key developments, information, news and research on the Kerala Real Estate Market especially covering larger cities like Trivandrum and Kochi. The Kerala Real Estate Market Report is a compilation of our most read articles on real estate as well as tips and recommendations for investors and home buyers.

You can download the report and read it here.

For further details, advise on buying or selling property and information on hot property deals in Kerala, contact us at nandanamconsultants@gmail.com or visit us at www.nandanamconsultants.in

Only 27 lucky few get to live in 7 Star Big I project in Trivandrum!

Big Infratech has launched India's first 7 star apartments with 27 exclusive condominiums on 22 floors and as well as with international shopping mall just opposite to technopark campus. The project is under construction currently. This marks the new range of super luxury apartments being opened in Trivandrum. The following is Big Infratech's description and specification of this complex. This could mark a new beginning in the launch of King Size super luxury apartments costing crores in Trivandrum city. For more read here: Big I project

Specification and Description by Big Infractech.

"We are bringing an exclusive project big "i" mall & apartments, the first of its kind, opposite to technopark, trivandrum. Every care has been taken to incorporate the best of amenities and comforts to make this an 'iconic' project. From seventh to the seventeenth floor, you have two apartments on each floor. And from the eighteenth floor you have only one apartment on each floor. In essence you will enjoy the luxury of privacy.

At I, expect nothing but the worlds best. It has the best facilities in the world sourced and installed by the best in that particular area of expertise. For instance, mood lighting is done by Schneider Electric - France, capsule elevator by Schindler - Switzerland,ensuite digital toilets by Grohe - Germany etc. Imagine the worlds best involved in building your home, right here in Trivandrum.

Comes to life opposite Technopark, Trivandrum, the greenest Technopolis in the world. In other words, on the most appreciating stretch of land in Kerala today. Its close to the airport, on the way to Kovalam and the new proposed Vizhinjam harbour.I is the iconic project of BIG Infratech India Pvt. Ltd.

Your apartment at I, sports an unbelievable 360o view of the sky, the sea and the technopark. Get ready to have sunrises and sunsets play an important role in your life.

A 20,000 sq.ft. club floor. The all weather pool with a 10 metre high waterfall, a rain dance area and underwater music can also be a perfect backdrop for the poolside party area. The air-conditioned gym, the spa, and the spaces for yoga, meditation and library will define your tomorrow, today.

:: Green Building standards
:: Opposite Technopark
:: Glitzy shopping mall
:: Sea view
:: 360 panoramic view
:: Air-conditioned apartment
:: Personalized mood light settings
:: Ensuite (digital toilet)|Helipad on roof-top
:: All weather musical swimming pool with 10 metre high waterfall
:: Spa with sauna, jacuzzi, massage room and steam bath
:: Squash court on 22nd floor with spider glass wall
:: Billiards
:: Pool table
:: Bar counter at balcony
:: Personalized lift call button
:: Capsule lift with panoramic view
:: Schindler elevators
:: Automated boom barrier entry for car parking
:: Biometric access
:: Personalized elevator
:: Air-conditioned gymnasium
:: Digital switches with remote control
:: 22 storey building
:: Apartments starting from 7th floor (from basement)
:: Extended terrace
:: Hydro pneumatic water supply system
:: National highway frontage
:: One apartment per floor (starting from 17th floor)
:: Friendly access for physically challenged
:: Food court with coffee parlour
:: 10 ft. clear height for each floor

Common Amenities:

:: 100% power back-up
:: Grand lounge area with elegant furniture
:: Reticulated gas system
:: Table tennis
:: Jogging track
:: Floral walkway
:: Water bodies
:: Landscaped childrens play area
:: Fully furnished guest suite
:: Waste management system
:: Sewage treatment plant
:: Fire and safety system
:: Rainwater harvesting
:: Hybrid car charging facility
:: Multi-level security system
:: Seismic zone 3 compliant
:: Party pavilion
:: Common toilets for drivers and servants
:: Space for ATM
:: Service centre
:: Garbage chute
:: All weather musical swimming pool with I0 metre high waterfall
:: Spa with sauna, jacuzzi, massage room and steam bath
:: Air-conditioned gymnasium
:: Provision for recreation club
:: Schindler elevators
:: Hydro pneumatic water supply system
:: Space for meditation, yoga, library and visiting doctors
:: Billiards
:: Pool table
:: Sky squash court on 22nd floor

Mood lighting: It gives you the option to choose the mood that you are looking forward to in your room at a particular time. Be it romantic, party or whatever, you opt for it on your remote.

Comprehensive coverage of luxury and budget apartments in Trivandrum

India is seeing tremendous growth in two sectors of real estate. One is the budget housing wherein the property rates do not exceed 30 lacs rupees and the other, the higher end of the spectrum wherein the rates could be more than 1crore rupees and at times even as high as 10 crore rupees.

The current budget has augmented and pushed forward new reforms for affordable housing. Hence developers are now looking at this segment in the Trivandrum market with renewed focus. At least half of the buyers looking for real estate are in the budget housing segment. At the same time the luxury segment has seen a lot of activity due to HNI investments and the depreciation of the Indian rupee.

Nandanam Consultants has formed an exclusive team to cater to the home buyers in both these segments: Luxury and Budget apartments. The team is also sharing some of its research via exclusive blogs on budget real estate and luxury real estate in Trivandrum. You can follow them at:
http://trivandrum-budgetapartments.blogspot.com/ and http://trivandrum-luxury-realestate.blogspot.in/.

We look forward to hearing your comments on this section. For reaching out to us, please check out our coordinates on www.nandanamconsultants.in

Trivandrum Real Estate Price Trends by location

Trivandrum is one of the few cities in India which has witnessed property appreciation on a CAGR of 25 to 33% compared to Metros, wherein some metros have even witnessed single digit appreciation. Traditionally land investments give better returns, however, apartments might be a better choice for those customers who stay abroad, prefer rental income and don't visit India a regular basis. Our Trivandrum real estate price trends are indicative and can vary by builder, location etc. These rates are based on the market information available on the ground with builders, agents, customers etc. Please call us to understand further before purchasing or selling your dream home.

Prevailing rates of real estate for some areas in Trivandrum:

Apartments
Vellayambalam - Sasthamangalam - Rs.5000 to Rs.6000 per sq.ft (varies by builder & availability). Appreciation over last 3 years - CAGR - 36%
Sasthamangalam - Vattiyoorkavu - Rs. 2500 to Rs.3500 per sq.ft (varies by builder). Appreciation over last 3 years - CAGR - 30%
Vazhuthacaud - Vellayambalam - Rs. 5000 to Rs.6000 per sq.ft (varies by builder). Appreciation over last 3 years - CAGR - 34%
These rates depend on amenities in the building, location etc. 

We don't estimate prices of land as many more factors like approach road, proximity to bus stops and auto stands, utilities like hospitals , shops, schools nearby might further affect property rates in the same area. Please discuss with us for purchase or sale of land if you are interested.

Trivandrum real estate buying trends

In Trivandrum, the trend of bigger area for apartments has changed and now builders are planning budget apartments which can be sold for a price below Rs 40 lakh. Around 50 per cent of the buyers prefer budget apartments, 30 to 40 per cent can afford Rs 40 to Rs 70 lakh and 10 per cent go for luxurious apartments which cost more than Rs one crore.

Villa projects are the least preferred owing to the high cost inside the city. Some projects are coming up outside the city, but they too are costly as the land prices are high there too. The new places were projects are launching include,  Balaramapuram, Neyyatinkara, Kovalam, Kazhakkoottam, Nedumangad, Attingal, Peroorkada and Vattiyoorkavu.

However an oversupply of projects is seen in the Kazhakkoottam area targeting the IT professionals, which is not getting a good response as sometimes supply is more than demand. Majority of people still prefer projects in heart of the city. As per an article on IBN, Thiruvananthapuram is one of the most cleanest cities and all basic facilities are available, this is the most preferred place for retirement life.