Every change in Government sends waves of trepidation in certain spheres of public activity. This is especially true in spheres related to any type of commercial activity, including the property and real estate sector. For, it is a given fact that the real estate scene is directly linked with the developmental policies and priorities of the Government in power.
The common belief among the public had been that the present property boom being felt all over the State, and especially in Kochi, would crash if a Left Government comes into power, the reasons being obvious. The Left might not support the development of IT and the related influx of foreign investment, which is directly linked to the surge in real estate. The fate of the Smart City Project following the recent controversy has also contributed to this uncertainty.
However, the builders in the State seem to be a confident lot. The general opinion prevailing among the builders community is positive. They believe that the present boom, unlike the one that had been crashed in 1995, is here to stay, come what the governments could do. Most of the development projects planned for Kochi are only in the initial stages of construction. Like the LNG Terminal project or the International Container Transhipment Terminal project at Vallarpadam, which are bound to change the face of Kochi. All the major projects that had been planned during the past couple of years will be completed only within the coming few years. And, surely, the impact of all these projects will be felt on the market. Similarly, most of the projects of the major builders, which have already been booked, will be completed only within the next one or two years.
With the idea of comfort levels growing, people now look forward to more of quality. The lifestyles have changed with the introduction of a metropolitan culture in the cities like Kochi which thereby opened a high growth to Kerala apartments