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- Rs 850-cr Township Comes Up in Kerala
I m fully agree with u that real estate is booming in Kerala. Many Real estate developer offering real estate services, developing new residential/ commercial projects, office space, renting out the property in Kerala.
Recently Sobha Developers launched one of the largest fully integrated townships in Kerala on Saturday. Called Sobha City, the 55-acre township is being built at an investment of Rs 850 crore. The township, covering 3 million sq ft will be built around a 6.5 acre man-made lake and will have 78% residential and 22% commercial areas.
To be completed by May 2011, the price ranges from Rs 2 crore for a villa (spread over 4,040 sq ft) to Rs 67-85 lakh for a three/four bedroom apartment (1,800-3,000 sq ft). While there will be 25 villas, the configuration of the three and four-bedroom apartments would be 423 and 216.
On why Thrissur was chosen over the commercial capital of Kerala, Kochi, for launching the project, P N C Menon, chairman, Sobha Group, said, “With 40% of Thrissur’s economy being run on NRI investments and the remaining on the gold trade, the city was a perfect bet over Kochi, where land rates would be much higher. ”CommentQuote0Flag
- When there is too much of boom,one needs to be careful.
After all RE investment is among the biggest investments one will make.Caution and avoidance of hurry will be essential to safeguard your money.CommentQuote0Flag
- where is the boom
This boom is the latest by desperate builders. There is no demand for any type of real estate in Kerala for the last two years. The price of rubber today is only 120 rupees. Rubber plantations which were quoting 1 lakh per cent three years back is quoting only 30,000 per cent today.
Apartments in Kerala is selling only because of ignorant and ill advised NRIs. Most of the buildings are not occupied.
Please visit NHBCommentQuote0Flag