Owing Apartments in Kochi is the biggest dream of NRIs and the middle class people. Kochi is basically said to be an investors’ market and these investments of both the NRIs and the middle class people have fuelled up the growth in the city. Kochi has seen a massive growth in its IT sector and Infrastructural development through NRI investments.
Kochi is one among the most expensive real estate markets in India. Significantly, the populaces with an annual income of 13 lakhs and above only can consider buying residential projects in Kochi. Furthermore, the average price of the new apartment projects in Cochin and the rental value is noticeably getting high in the commercial capital of Kerala.
The city of Kochi is already in the process of progressing from the small town into a metro city. The major places like Tripunithura, Vyttila, Fort Kochi, Kakkanad and Edappally are becoming part of the prime residential locations in Kochi. Many number of new apartments in Kochi are found available for sale and rent in these places.
Nowadays, the home buyers who are most interested in investing in flats in Kochi are the salaried classes - the NRIs and the middle class people. And both these classes are specific about the facilities and the amenities offered by the flat builders in Kochi.
They are also price conscious and are not willing to spend their hard earned money on investing in the independent homes especially because of the unreasonable hike in the prices of such properties in Kochi. In order to help the home buyers in buying their dream homes, the Government of India is planning to drop the GST rate for property purchases under the Credit Linked Subsidy Scheme (CLSS) from 12% to 8%.
As NRIs are not dependent on home loans for buying new luxury flats in Kochi, the middle class people are the most beneficial with the Pradhan Mantri Awas Yojana (PMAY) Scheme in India. Under the scheme, a home loan subsidy interest amount of Rs 2.67 lakhs is provided to the beneficiaries and the amount is credited to their loan account. Thus, the home loan borrower is privileged to lower the EMIs and this lessens the principal amount of loan payable.
The younger generations are also into investing in new luxury apartments in Kochi mainly because of the increase in number of IT companies, rapid progress of the transportation sector and improved communication in the metro city. With the advancement of metro rail, youngsters also prefer to buy new flats in Kochi which are even farther from their workplaces.
With the government's new initiatives in the real estate sector, buyers have a plethora of apartment choices. However, owning a piece of land still has an unrivalled prestige value. So, when it comes time to relocate or invest for a more secure financial future, many of us are caught between two options. Here we compiled this helpful list that will help you choose wisely!Investment FactorOne of the primary disparities between a plot & an apartment is that you'll have to live in your very own house right from the moment you acquire an apartment & you'll save a lot of money on your rent. Whereas a plot allows you to create your own customized home, until then you won't be allowed to live there & you'll have to pay rent even if you invest in the plot. Also, when you buy an apartment, you can use it as an investment vehicle as you rent it to someone, but in the case of a plot, it won't be possible. So, compared to plots, an apartment is a smarter investment choice.The Hassle AspectAn apartment is actually a comprehensive package for standard living; you can select one that would be ready to move into where it contains all the things that an apartment life demands. Hence, you won't be worried about any further headaches or strain. A plot that you wish to build on is just land & you have to build it from scratch & you'll now have to deal with the troubles & groundwork of building the structure, obtaining legal permission, & ultimately upgrading it with lifestyle elements to keep it livable.Financial AssistanceFinding financial help for the purchase of a plot is more difficult than for the purchase of an apartment, since financial companies are hesitant to lend money for the purchase of a plot. So, as a result, there are limited alternatives for purchasing landed property, as banks often do not provide financing for the purchase of a land/plot, but it is effortless to get a bank mortgage for the purchase of an apartment.Compliance AspectIn general, the plot is considerably more likely to get entangled in legal complications & litigation. So, when you purchase a plot, conduct thorough research on any conflicts, & ensure to keep an eye on it till you build your home on it. As in India, several issues are raised regularly relating to illegal land capture. Although these concerns are much reduced when purchasing an apartment when the buyer is protected by RERA & he or she has the right to go for a petition for compensating & remedial action, if the builder didn’t guarantee their promises. Accordingly, as a precautionary step, today's builders will exceed expectations to guarantee that all legal & financial requirements are met.Return on InvestmentA plot can be acquired for the intent of constructing a new structure to get profit, or it could be utilized for other reasons. If you plan to acquire an apartment, only do so upon assessing the growth prospects of a specific neighbourhood. Your apartment's ROI will be higher depending on where it is located. Because of the increased movement of workers from other cities, an apartment in a desirable location will always have greater rental yields, providing you with a monthly second income & assisting you in being financially secure.Tax TreatmentThe tax treatment of plots & apartments differs. As in the case of an apartment, first-time homeowners are eligible for specific tax breaks. The tax deduction for interest on plots is allowed only in the year where construction is finished. Interest accumulated during project construction can be reclaimed as a deduction across 5 years in equal payments beginning with the year the work is finished, resulting in a delay in tax advantages. Holding a plot as an investment is not tax-deductible, but you can request a deduction for the interest given. Conversely, if the plot remains barren, it might not be eligible for a tax break.Value AppreciationThe plot has comparatively better value appreciation than an apartment. This is mostly due to the scarcity of plots on the market. The value of a property is determined by its location & proximity to major infrastructure developments. However, the land market is a cobweb, so when you buy, you must be vigilant. So the safest choice for individual investors is to buy apartments; keep it simple & get your 20 or 25% appreciation because the land is all about where you want to be on the risk-reward spectrum. Also, make sure to select an apartment from a reliable builder with a good location & surrounding infrastructure to increase the value of it.Scope of ResaleApartments are easier to sell as there is always a huge demand. Furthermore, apartments provide a variety of facilities as well as security features. The attraction of plots is that the owner owns the land & can create a new house to optimize returns. But when you plan to sell it, it may not be fundamentally enticing to a possible buyer market. He/she may then either invest more in repairing it or entirely demolish it to create a new one. This might have a reasonable impact on the price of the house. However, in the case of apartments, such an issue does not exist as they’re available with a fixed structure (part of the structure) &, thus, more convenient to sell at the value without extensive negotiations.After considering your wants, financial status, & commitments, take the best alternative. Having a plot implies that you should be careful with some choices. However, the benefits for apartments may be far greater than for plots. Because everything is already in place, you may begin earning profits on the first day. It is critical to seek apartment properties in affluent locations and, of course, from a reliable builder, so that you'd have a good chance of making a regular return. If you are looking for your dream apartment in the heart of Kochi, Thrissur, Thiruvananthapuram or even in Kozhikode, then do visit Varma Homes, one of the top ranking and most trusted builders in Kerala. We strive to enhance top-notch quality construction materials to create apartments that will stand the test of time. With us, you shall not be disappointed! You will get the guarantee of quality residential options that provide not just great living spaces but also a lot of happiness.
Read MoreThere is no denying that India's real estate market is booming. The demand for property owners in the real estate sector has increased manifold in the last few decades. If you want to get into the property investment, then Kochi might be your place. The city of Kochi has a thriving real estate market and is home to some of the best properties in India.Kochi is not just a smart city. It is home to airport terminals, commercial growth, port-based industry development, cross metro rail, tourism, massive career opportunities and foreign investment. Kochi also boasts a burgeoning IT industry. In this blog post, you will learn about some of the best reasons to consider moving to this city if you want to take your wealth creation to the next level with real estate investment.Luxurious features:Builders are delivering premium homes and apartments in Kochi with luxury facilities as the demand for luxury residences grows. The facilities you choose are entirely up to you, based on your needs and budget. Because it is an issue of your everyday commute, accessibility to your business and important routes should be considered. Shopping locations and transportation accessibility should also be considered.Healthcare Facilities:During this medical breakdown, the hospitals and primary health centres in the city have responded quite effectively. This resulted in bringing down the rates of affected people and helped to restore life back to normal. Passengers arriving at the railway station and airport during this time were given thorough check-ups and made sure they continue to take proper care for themselves, even if they were not admitted to the hospital. Being an owner of an apartment in Kochi means you are guaranteed to stay healthy and secured in good hands. New international airport terminal to cater to growing demand Cochin International Airport Ltd (CIAL) constructed an INR 1,100 crore international terminal with a built-up space of 15,00,000 sq ft. It is designed to handle 4,000 passengers per hour and the new international terminal will have a very positive economic impact and uplift the real estate market in the whole region. The catchment will witness the development of new retail and commercial spaces along with a good supply of residential and hospitality developments to cater to the increasing demand.The increased international connectivity will also pave the way for global companies and cargo-based businesses to deploy and expand operations nearby. The international terminal, along with an operational metro, will significantly boost the city's real estate market and the catchment itself is expected to witness 15-20% rise in property prices.Education and ProfessionWhen buying apartments in Kochi, you should think about the educational and professional facilities available. Kochi is home to some of the country's most prestigious educational institutions. In the city, many foreign schools and institutions provide high-quality education. Kochi is now a burgeoning IT center, with the Infopark and Smart City providing a plethora of career prospects. As a result, professionals and the general public can find a wide choice of work and business opportunities in Kochi.The Support system: While we were busy living our lives indoors during the pandemic, there was a whole bunch of livestock, organic farms and godowns ready to serve the city's needs. Terrace gardens, farms and Fishermen folks slowly get their day-to-day activities eased and go smoothly, which essentially provides for you and your family in the future. Destination of Opportunities: Now, as Kerala has become the number one state in the entire country to show more positive signs in the recovery mode, the opportunities are flooding in. Being the perfectly modulated economic zone in the state, the city of Cochin is the number one prime spot for some major investments in the coming times. A recent report from a National Daily suggests that the manufacturers who are backing out from other countries are looking forward to investing more in India, especially in Kerala. This stands for new opportunities in business ventures and the job market. This way, it is possible to consider your apartment in Kochi and that dream will be paid off in the future. Market for happiness: The city of Cochin which we have witnessed, even before the pandemic was struck, has a lot in its bag and will reclaim its space, once it's all over. The hotels and restaurants are coming back to the track, the hangout places in Fort Kochi and Marine Drive will kick-start with people coming to share their thoughts and love. By securing your flat in Kochi you are invited to partake in these lasting moments of true happiness and smiles.Bottom lineKochi, not now but always stands for the richness of both culture and heritage making it a sought-after travel and tourist destination. This also makes a good reason for you to enjoy a bit of culture and heritage and carry forward the same in your life with your dream home. With all modern amenities available on tap, buy flats in Kochi, an ideal location for buying your dream home.For a luxurious and posh apartment, you can visit our website and look for flats in Ernakulam and Kochi. The team at Varma Homes is devoted to creating high-quality commercial and residential projects that are both inexpensive and attractive.
Read MoreKochi is quickly becoming one of Kerala's most popular real estate and builders' destinations. Now Kochi, a tier 2 city, currently offers an ultra-modern lifestyle in addition to being one of India's most prominent IT hubs. Real estate is growing not only in the residential sector, but also in the commercial sector, as the city expands with cutting-edge shopping malls, hotels, and office buildings. If you are looking to buy apartments in Kochi, this is a good choice since it is easily accessible by road, rail, boat, and air from anywhere in the globe, resulting in the expansion of businesses and infrastructure in the area.Purchasing flats or apartments in Kochi, whether as an asset or an investment, is a major decision that requires careful consideration. When looking for a place to call home, one of the most important factors we consider is location. We all want to buy our ideal flat or apartment, complete with all of the current amenities.Benefits of Buying Flats in KochiThere are a lot of benefits to buying flats in Kochi, Luxury flats and apartments are the main trends seen in Kochi City, and most of them are located near the Kochi metro stations and important towns in Ernakulam.Kochi has some of the most reputable schools in the country. There are various international schools and institutions in the city that provide top-quality education. Now Kochi is a growing IT hub, with Info Park and Smart City, offering several job opportunities. And major services like hospital facilities, Uber services, and supermarket services are also accessible in Kochi. Families can also get great satisfaction from buying flats in Kochi because they can spend weekends in Lulu mall or other famous malls in Kochi, and also Kochi metro is there for their travelling purpose.In terms of investment, Kochi is a fast-growing city with limitless potential, and the need for apartments will always be on the rise.Smooth ConnectivityKochi has excellent connectivity thanks to the availability of all modes of transportation, including road, train, air, and water. With the introduction of the Kochi Metro Rail, the city's transportation has become even more beneficial. Kochi is the first Tier-II city to have an operational Metro Rail. Kochi's international airport terminal links the city to countries worldwide as well as Indian cities. Kochi is the preferred city for investors due to the availability of natural resources and excellent infrastructures, such as a large number of international and domestic flights, a modern and efficient airport, and a growing number of luxury and mid-range hotels situated in the city and adjoining districts.Vibrant LifestyleThe city has the most thriving lifestyle in the state, with malls and a multitude of entertainment, culinary, and recreational opportunities that are very attractive and mainstream. Kochi is one of Kerala's most popular tourist destinations due to its exposure to world-renowned athletic engagements, fashion exhibitions, and trade shows. Kochi is an emerging travel destination for many of the world's top vacation destinations. Kochi is also a desirable retirement location due to its temperate climate, beautiful coastline, and low cost of living.Return on InvestmentThe growth of the real estate market is attributable to the course of time, which gives you innovative and infinite ways to invest. Kochi has a shining vision down the road, with expansion and advancement that look compelling. Every investment is completely secure and will be good enough to justify it. Since India is a booming economy, it only tends to increase a property's rate of return. Selling it in the long term will only outweigh the investment cost. The longer an investment in Villas in Kochi Is retained, the more significant revenue is generated.IT Hot SpotIndia is in the initial phases of the tech revolution, and it is expected to speed up over the succeeding years. With the Infopark and SmartCity Campuses, the potent IT industry of the country has also made itself recognized in the city. Large multinational corporations (MNCs) from all over the world thrive here because the cost of doing business is low and workers are inexpensive. Homebuyers are also empowered in the emerging real estate market because builders in Kakkanad are constantly volunteering to think outside the box.Ample Employment OpportunitiesThe swelling number of businesses in the city has presented residents with increased employment options. The Kakkanad technological cluster and the Cochin Special Economic Zone (CSEZ) have become appealing locations for enterprises and businesses seeking to establish their base in India. The proximity of well-developed transport infrastructure and a large population of potential customers and partners has made the city attractive for businesses seeking to expand or start-up. The presence of large foreign corporations in the city has provided a good platform for the growth of the local employment sector.CostKochi's real estate market is attractive for flat or villa owners due to the low cost of ownership. Countless renowned constructors produce magnificent apartments with creative designs and present them at fair rates. Flat or villa owners can choose from various layouts and interior designs, including ones with a swimming pool or rooftop terrace. While the market for apartments in other megacities is flooded with high-rises and luxury apartments, apartment complexes in Kochi are popular among the locals for their amenities, affordability, and comfort of living.Also Read: Top 5 factors to consider while purchasing a flat that you want to resale in the futureTourism HubKochi receives millions of tourists annually, which is crucial in adding significant value to the city's earnings. It has historical pertinence and is a popular attraction for its coastline, lush countryside, and watersheds. Kochi is also visited annually by domestic tourists for cultural celebrations and festivals. The city's aspiration to become a prominent vacation spot provides a pathway for the skyrocketing demand for the hospitality industry and its ancillary sectors. Furthermore, the proximity of large international airports and the growing popularity of cruise tourism make the city an attractive destination for international visitors.Varma Homes is one of the famous builders in Kerala offering an array of choices for those who are looking for the Best Flats in Kochi. If you are planning to buy Budget flats in Kochi, I would say it is a wise choice. We have our projects in Kochi. You can trust and invest in our projects; our executives are always ready to help you. You just need to make a call, and we are there to suggest the best option for you. Your dream is just a call away!
Read MoreResidential property investment is a big decision and is not an easy task. The processes are daunting but when we do it in the right manner at the right time; it will become the biggest asset in our lifespan. Now the real estate sector has gone through a vast deal of changes to make the home buying process simpler than ever before. If you are waiting for the right time to invest in the realty market, then wait no longer. Now the niche market is seeming a tremendous rise in demand for reasons like sparse area, rise in population, and immigration of individuals from different states and nations. So here are the top reasons why you need to invest in property at the earliest. Time Lets You to Take Risks People who begin investing in properties late in their life are often inherently more alert and careful with the investment decisions and are not ready to take any risks. Those people who are in the age group of the early 30s are ready to take risks and they often earn good gains too. Honestly, all investments are risky and if you put the risk at the right time helps you earn more profits. Consistent Hike in the Price of Properties There is no doubt that real estate is one of the safest investment you can ever make as it is always guaranteed to rise in value over time. For example, studies prove that Metro cities like Kochi & Trivandrum have recorded a substantial growth rate than in the last few years. This indicates that investing in the right property without any much delay would double the value in a few years. Higher EMIs to Pay As You Get Older Young age works in your favour when you are investing in real estate. In this age, you can save enough and also avail loans without much hassle. Here you get to pay a very less EMI on your home loan the younger you are. That is, when you are young, you get more opportunity to invest than in the older age. So, take plus of that fact. After all, you are young only once. Loan Availability When an individual starts investing in their early 30s, the odds for a financial organization to approve a loan is more because she or he would be having a stable source of income for loan payment along with a decent credit score. No Rental Payments Rather than spending too much of amount in giving the rent for your home, you can invest in a real estate and turn to pay the home loan EMI for it. It will be your future investment and it surely aids you more than paying for the rented homes. Support Your Retirement Plans The early age investment increases the chance for financial stability even at a younger age. So think about the savings for retirement from the age of 25s rather than the age of 50s. Life after the retirement is more challenging and complicated than it has ever been, so make proper plans for your retirement now, which in turn lead to a happier life after retirement. If you are finally planning to invest in a home of your own, then visit Varma Homes, the most leading builders in Kerala. Our top-notch quality of construction and superb prime locations make our apartments the best choice for first-time home buyers. So, what are you waiting for? Owning your dream home may not be easy, but it’s definitely worth it when you realize it at the right time. Ping us to know more about our projects or visit: www.varmahomes.com
Read MoreInvest in real estate or invest in shares? You may have often wondered which the best form of investment is. Both have an image of being lucrative, but which is the better option? Is it better to invest in shares, or should you consider purchasing real estate instead? There are many options available when it comes to investing. The two most popular ones are real estate and stocks. But, many people find it difficult to choose between the two and often end up choosing both or none at all. Real estate and shares are two valuable investments. When it comes to buying real estate or shares, the ultimate choice is yours. Both entities will give you a financial return on your investment (ROI), but they can be different in many ways.Real Estate Vs Stocks in KeralaIf you understand what you've been doing, stocks can be a wise investment. You don't need a large sum of money to make investments in stocks and shares. There are several ways to do so, covering everything from mutual funds to using a share broker. You can also buy a stock market tracker or invest in equities. When you buy stock in a firm, you are truly purchasing a part of the company's ownership. Because of this, the value of your investment will increase or decrease depending upon how the company performs. In reality, stocks have a downside. They're a bit more dangerous, when you're buying stocks you end up with an excessive amount of risk exposure.On the other side, real estate is a highly accessible investment in many dimensions. You can estimate its worth and assure that you'll be able to earn the profits you desire. It's a tangible asset that comes with a slew of advantages, involving cash flow and appreciation (as do some share investments). As well as leverage, which allows you to grow your investment by borrowing money from the bank. This, blended with real estate's ability to function as a long-term hedge against market volatility & inflation, creates a powerful combination. And thus, makes it one of the safest ways to accumulate wealth, keep it, and even pass it down to future generations. You can either lease property for others to use it or buy property and rent it out yourself. Despite a few setbacks, it remains the best investment opportunity and will continue to develop in the future. Because of considerable economic growth, the average pay in most Kerala cities has improved. This provides everyone with a reason to plan for the future, making real estate a great investment alternative. Real estate has a weak correlation to the other major asset classes, i.e. even if the economy experiences a slump, stocks or shares may stop providing dividends, real estate counteract any severe economic downturn. To sum up,Long-term planning for the future is often difficult, but it’s necessary if you want to be successful. This is particularly true for people and families that are looking to invest their money. Making a real estate investment can help provide a steady stream of income and create peace of mind in the long term. Real estate has consistently outperformed the share market over the last few decades. It's performing admirably and has persuaded investors that it is a sound investment. If you are looking to make money through your investments, then real estate is what you want to go with. It is better than shares, because the return on your investment will be much higher. The prices of real estate are increasing every year and if you invest now, then you can expect a high ROI (return on investment). So, if you are looking to buy an apartment in Kerala, then you can choose Varma Homes, a trusted builder in Kerala. Varma Homes is a renowned real estate builder in Kerala that offers residential properties at best rates. You can choose from an array of options to suit your requirements and budget. We have our apartment projects in major cities, such as Kochi, Thrissur, Thiruvananthapuram, and Kozhikode. Choose the one that suits your needs best! Contact us today for further information or visit our website for more details!
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