Post by evans41 on Aug 22, 2011 7:24:06 GMT
Since the year 1988, the Greater Cochin Development Authority (GCDA) has undertaken the development of Kaloor Township adjacent to the present city, with the objective of developing certain areas as self-contained neighborhoods. Since there is no demand for readymade houses in this area, the GCDA is limiting its role as a facilitator.
The development of this sector constituting an area of more than 3000 acres, having a residential area of around 2000 acres (65.4% of the area) has been carried out and plots sold, and the development of the adjacent sector having a total area of 4000 hectare is being taken up. Excluding the green belt, the net area of the scheme is 2500 hectares, out of which 40.47 percent and 21.46 percent areas are being developed for residential plots and group housing schemes respectively.
The timely intervention of the GCDA in solving the problem of shelter to suit every section of household has given a right direction and altered the traditional real estate business in Kochi. Mini urban areas are emerging and faster developments are now being seen in these areas than in the other parts of the city.
Properties in Kochi are being valued on the higher side mainly due to this trend. It is interesting to note that even in the suburban areas, property values are rising and consolidating with each passing year. Alwaye is another key center that is witnessing the emergence of a township. Urban developments very similar to those in the key urban areas of M.G.Road and Marine Drive are now taking place here. While Kalamassery has already made a name for itself as an industrial hub, Kakkanad is not far behind. Property values in these areas have literally tripled in value within a short period of time.
The development of this sector constituting an area of more than 3000 acres, having a residential area of around 2000 acres (65.4% of the area) has been carried out and plots sold, and the development of the adjacent sector having a total area of 4000 hectare is being taken up. Excluding the green belt, the net area of the scheme is 2500 hectares, out of which 40.47 percent and 21.46 percent areas are being developed for residential plots and group housing schemes respectively.
The timely intervention of the GCDA in solving the problem of shelter to suit every section of household has given a right direction and altered the traditional real estate business in Kochi. Mini urban areas are emerging and faster developments are now being seen in these areas than in the other parts of the city.
Properties in Kochi are being valued on the higher side mainly due to this trend. It is interesting to note that even in the suburban areas, property values are rising and consolidating with each passing year. Alwaye is another key center that is witnessing the emergence of a township. Urban developments very similar to those in the key urban areas of M.G.Road and Marine Drive are now taking place here. While Kalamassery has already made a name for itself as an industrial hub, Kakkanad is not far behind. Property values in these areas have literally tripled in value within a short period of time.