Kochi is at the top of the real estate game among all the tier II cities of India

Kochi has at last hit the number one position pan India in terms of real estate investments among all the tier II cities, according to PropEquity, an online real estate platform for survey and research. Kochi is the commercial hub of Kerala and is the major online trading centre of India. Kochi has moved from the second position to the first as it has become the major contributor of the total market size of the nation in comparison to all the tier II cities. It indeed contributes 20% of the total market size.

The PropEquity officials informed that the ranking of tier II cities was based on 10 key parameters including inventory, sales, demand, supply, market value, etc. Other top cities include Nashik, Vishakapatnam, Trivandrum, Mangalore, Indore, Goa, etc. Overall, 6 cities out of top 10 cities are from Southern India.

Kochi is the fastest growing city and is recognized by the World Bank as one of the major industrial cities of India. It is growing remarkably in all the sectors like construction, manufacturing, shipbuilding, transportation, IT, tourism, banking, etc. The city has good infrastructure with well-connected roads, railways and airways. The development is spreading like wild fire across the city with best hospitals, educational institutions or shopping centers. This has led to many big investors to come to Kochi in search of big profits especially in real estate industry.

The real estate is no doubt doing better in this region compared to any other city as there is huge demand for new projects to be launched. In this region the supply is more or less matching the demands of the customers. The project delay too seems to be much lesser compared to other cities as it is basically an end users market.

Overall, the outlook of annual sales of tier II cities looks better compared to the tier I cities; the performance has however been affected due to the slowdown of the market. The sales of houses in tier II cities came down to 17% as compared to 32% in tier I cities.

Kochi and all other southern cities have been proving, time and again, that they are able to sustain in the market in good as well as tough times.

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