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Low Cost Housing in Kochi

 

Kerala is not an expensive place of living to talk of. But Kochi is a city that is commercially viable to many especially because of the good transport connectivity. Several businessmen and tech professionals prefer this place for living. In recent times, with high cost of living, expensive rates for land; the cost of apartments has scaled great heights. An apartment that costs around Rs 10 lakh even two years back is riding on Rs 15-Rs 20 lakhs near the Kochi railway station. The real estate market of Kochi, also known as Cochin saw a boom in the housing industry and especially in the residential sector as more and more people moved into the city from other parts of Kerala because of professional reasons. 

 
The rental market in Kochi and the whole of Ernakulam district is an affordable one and is an integral part of low cost housing in India-Kochi. You can easily look for low cost homes in Kochi on rents in Panampilly Nagar in Kochi with Rs 3,500- Rs 4,000 with 550- 650 square feet. It would be a 1 BHK or 2 BHK accommodations. But, there are also expensive ones in that same location that may amount to Rs 45 lakhs- 55 lakhs with a square feet between 1,500- 2,200. 
 

Commercial low cost housing market in Kochi

 
The commercial low cost market of Kochi is both an expensive and again an affordable one. There are specific locations that you need to find out when you are out hunting for an office space on rent that too a low cost one. The buildings that are located near the NH Bypass have space ranging from 3,500- 22,000 square feet and the rates are fixed accordingly. The ground floor space will cost different than the other floors. They might be expensive for you because of the location. The building near Kalamassery instead on the route of NH-47 is cheaper. The second floor of these buildings having square feet of 1200-1700 would have a monthly rent of Rs 5000- Rs 15,000. But these flats may not have parking facilities. Small call centers and educational institutes can have their corporate offices here. Come down to Chittor Road, there are semi-furnished office space on the second and third floor with 500- 700 square foot which are Rs 7-8 lakhs on ownership and Rs 3000- Rs 4000 on rent. 
 

Residential low cost housing in Kochi

 
The various low cost housing projects in Kochi have provided enormous opportunities to the low income group to have a property of their own. Low cost housing in India- Kochi is an initiative taken recently by the National Buildings and Construction Company (NBCC), which has already acquired 3.5 acres overlooking a valley, to construct 2-3 BHK flats. These would cost a minimum of Rs 3- Rs 5 lakhs. There is a comprehensive program to build low-cost housing, buyers and not just the builders could not only revive the demand for iron, steel and cement, and protect the livelihood of countless people who have earlier faced intense challenge in the communities to own a shelter. For lenders, low-cost homes are a safer mortgage because of low price as compared to premium mortgages.