Reasons to invest in Calicut

Kerala has long been one of top picks for NRIs as far as property investments are concerned. This does not come as a surprise to many as there is a sizeable population from this state that has settled all over the world especially in the Middle East. But the real estate story of Kerala does not stop there. Cities like Kochi, Thiruvanathapuram, Thrissur and Calicut are growing in terms of infrastructure and this has attracted the interest of developers, end users and investors.

One of the cities in Kerala which has great potential for growth is Calicut. Also known as Kozhikode, it is a coastal city located in the northern part of Kerala on the Malabar Coast. It is a tier 2 city and is said to be the third largest city in Kerala. It is home to a population of over 2 lakhs according to the 2011 census. The real estate in Calicut has thrived on the back of the good connectivity the city offers to other parts of Kerala as well as states such as Karnataka, Maharashtra and Tamil Nadu. There are three national running through this city. National Highways 17, 212 and 213 connect Calicut to some of the more important cities of southern and western India like Mumbai, Mangalore, Mysore, and Goa. There are five state highways that connect it to cities in Kerala and Tamil Nadu like Ooty, Koyilandy, Edavanna and Kalpetta. State Highways 28, 29, 34, 54 and 68 act as connectors for this city. Calicut also has a railway station which connects it to locations across India. The Calicut International Airport which is located in Malappuram is another major connector for this city.

Another development which will increase the demand for Calicut properties is the upcoming Monorail project. The project is set to cost INR 1,991 crores and cover a distance of 14.2 kms. 15 stations are planned for this project which will begin from Medical College Hostel to Meenchanda. The entire project is being divided into two phases with the first one covering the distance between Medical College Hostel to Mananchira and the second phase will begin from Mananchira and end at Meenchanda. Some of the upcoming stations are Chevayur, KSRTC, Palayam, Pushpa, and Panniyankara. This project is expected to near completion by 2015.

Besides being well connected, Calicut is considered to be an educational hub of great repute. It is home to the Indian Institute of Management-Kozhikode, the National Institute of Technology and the Calicut Medical College all of which are premier institutions.

Calicut has the distinction of being named the second best city in India to reside in by a research firm. The city has distinguished itself on liveability parameters such as health, education, environment, safety, public facilities and entertainment. So it is not surprising to see that NRIs from Kerala and locals alike who want to invest in properties including apartments in Calicut. The going rate for properties here is between INR 3500 to INR 4500. With the administration here making a concerted effort to improve the infrastructure, the properties rates here will only pick up in the near future.

Sulabha is an expert in India real estate. She has also authored many studies for builders in Hyderabad and real estate experts.