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Is Buying an Apartment a Good Investment in Trivandrum?
Trivandrum, the capital city of Kerala, is a fast-growing hub for technology, tourism, and healthcare. The city's strategic location and booming economy make it an ideal place for investment in real estate. Buying an apartment in Trivandrum can be a good investment, provided you make an informed decision. In this blog, we will discuss the advantages and disadvantages of investing in apartments in Trivandrum.
Advantages of buying an apartment in Trivandrum:
High appreciation value:
The real estate market in Trivandrum is growing rapidly, with property prices increasing year on year. Buying an apartment in Trivandrum can yield high returns on investment in the future.
Future developments:
Trivandrum will soon have its own metro rail system, known as the "Light Metro," which is anticipated to enhance both the standard of life for its residents and the city's development. The upcoming Vizhinjam port is also expected to accelerate the development and prosperity of the city. The real estate industry will expand as a result of all these factors.Flats in Kochi is a big example of this.With its superfast metro and rapid development their value in the real estate market has skyrocketed.Along with this the new 6 lane highway will make traveling to northern parts of Kerala much quick and easy
Stable rental income:
Trivandrum has a high demand for rental properties, making it an ideal place to invest in an apartment. Investors can expect a stable rental income from their investment.
Technopark:
Technopark, the IT centre in Trivandrum, is growing and is expected to soon surpass all others in size in the nation. Currently, Technopark is home to over 350 Indian and international businesses that hire over 60,000 professionals from all over India. As a result, there will be a higher demand for homes to accommodate the expanding population.
Developed infrastructure:
Trivandrum has well-developed infrastructure, including excellent road networks, public transportation, and healthcare facilities. This makes it an ideal place for families and professionals to live, which further increases the demand for apartments. As it's the capital of Kerala state all head offices of governments and other agencies are found here and chance of people renting apartments for work related reason is high and this makes is a perfect place to invest (high returns on rentals)
High-quality construction:
The construction quality of apartments in Trivandrum is high, with most commercial builders in Kerala using high-quality materials and modern construction techniques. This ensures the durability and longevity of the property, reducing the maintenance costs over time.
Tax benefits:
Investing in an apartment in Trivandrum comes with several tax benefits. Investors can claim tax deductions on the principal and interest paid on the home loan, which can significantly reduce their tax liabilities.
Tourism:
Nestled on 7 undulating green hills, Trivandrum is blessed with a bounty of natural beauty spots including a number of attractive beaches. Having been the capital of the erstwhile Kingdom of Travancore, the city is also home to numerous beautiful old buildings and tourism spots for both domestic and international tourists.
Conclusion
Buying an apartment in Trivandrum can be a good investment if done with careful consideration. Factors such as location, construction quality, rental income potential, tax benefits, legal due diligence, and market fluctuations should be taken into account before making the investment. By following these guidelines, investors can ensure that they make a wise and profitable investment in real estate in Trivandrum.
Due to the rapid market change, now is the ideal time to invest in or purchase residential properties, flats, and apartments in Trivandrum and also outside Trivandrum such as ready to occupy flats in Thrissur which is another growing tourist sensation with a lot more potential in the market. One of Trivandrum's most reputable and trustworthy builders, Varma Homes, provides high-quality residential buildings with top-notch amenities in excellent locations.Releated Blogs
The Apartment Living Lifestyle of Kochiates
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How To Choose easy on pockets Apartments in Kochi
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Everyone strives to achieve the key milestone of home ownership. And it becomes a notable accomplishment while purchasing a flat in Trivandrum. Despite being the capital of Kerala, Trivandrum is still expanding both vertically and horizontally. There is a tonne of residential developments underway throughout the city, which gives homebuyers a tonne of options since the real estate market is booming!With miles of tranquil beaches, several lakes, and eco-tourism in the enigmatic Western Ghats, Trivandrum is renowned for its natural beauty. However, prospective homebuyers are attracted to Trivandrum just as much as tourists are. Given all the city has to offer, it is understandable that those looking to purchase apartments choose Trivandrum.Since it became the capital of the Kingdom of Travancore in 1795, this historically significant city, with roots dating back to the tenth century, has been linked to the aristocracy. Trivandrum's continuous status as the nation's capital even after independence has resulted in great infrastructure being in place as well. In addition to having some of the best multispecialty hospitals in the country, the city is also highly renowned for its top-notch educational institutions and medical travel.Trivandrum, the capital of Kerala and the second-largest city in the state, is constantly expanding in terms of real estate investments as a result of the numerous factors listed below:IT HubMore than 350 businesses and organisations with almost 60,000 employees are based in Trivandrum's Technopark, the city's information technology centre, which opened its doors in 1990. The city's current expansion, which includes the addition of 37 hectares of land as part of Phase IIII extension, is largely owed to its well-established IT hub.A Growing Job MarketAs was already said, Trivandrum is a rapidly expanding IT centre, home to large international corporations like Oracle, Infosys,TCS, UST Global, Confianz, etc., which has increased work prospects and drawn many IT professionals from throughout the state and nation. not to mention the expansion of other industries. In consequence, this has significantly increased the city's real estate market.Upcoming developmentsThe Trivandrum Light Metro is a suggested name for the metro train system that the Keralan government intends to build. It will be one of the major city developments, boosting the real estate market and the local economy. The well-known Vizhinjam harbour project will also fundamentally alter the course of the city's development once construction begins.Social InfrastructureTrivandrum has everything, including international schools, colleges, multi-specialty hospitals, and world-class shopping malls.Natural HeavenTrivandrum, like most places in Kerala, is endowed with stunning landscapes and water features. The city is renowned for its beautiful weather and less polluted surroundings.LifestyleThe city has become increasingly active as a result of the rapid growth in the number of retail malls and centres, multiplexes, multinational food chains, and other commercial hubs, giving it a multicultural, cosmopolitan culture.Home loansThe banks are currently offering the lowest interest rates on house loans ever, making this the ideal time to purchase apartments in Trivandrum. Most banks now provide home loans with interest rates as low as 7% as a result of RBI's numerous repo rate reductions. Before applying, make sure to check your CIBIL score. CIBIL scores between 750 and 800 entitle you to very reasonable EMIs for the duration of your loan.PerksA significant amount of merchandise accumulated during the pandemic with few serious purchasers in between. The majority of folks preferred the wait-and-see strategy. Builders need money to continue forward with other projects, but because sales have stagnated, the majority of builders are providing incentives to get customers to commit. As a result, homeowners now have more negotiating power and a large number of "ready-to-move-in homes" are offered at "under-construction" prices.Market for BuyersAt prices in the inexpensive class, you can readily find high-quality properties. This is due to the buyer's market we are currently seeing, where strong projects may not provide substantial discounts but may instead include free amenities like parking or more favourable repayment terms.Market BoomA boom in the property market and its pricing is anticipated soon since Technopark will need additional high-quality residences to accommodate the well-travelled personnel of upcoming MNCs.This is the ideal time to make a real estate investment, thanks to a recovering economy and job security. The majority of individuals learned the value of having tangible belongings and a place to call home throughout the pandemic. They also started to think more about investing in reliable assets and ensuring the safety of their family. The investment returns from purchasing a flat are also certain, as rental incomes are expected to steady.Due to the rapid market change, now is the ideal time to invest in or purchase residential properties, flats, and apartments in Trivandrum. One of Trivandrum's most reputable and trustworthy builders, Varma Homes, provides high-quality residential buildings with top-notch amenities in excellent locations.
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