Checklist For Buying Luxury Homes In Kerala

Posted On February 3, 2017 | by admin | in Home Investment

luxury homes in Kerala

Often referred as the God’s own country, Kerala is the most beautiful and picturesque state of Southern India. Kerala is the perfect destination for not just the adventure and peace lovers but also honeymoon couples, romantic getaways, cultural vacations and educational trips. In short, Kerala can be stated as a country giving you the best opportunity to explore the serene green environment. Every village and town in Kerala is regarded as the real estate hotspot since all Malayalees residing outside Kerala as well as those residing in other parts of the country wish to make investment here. And here are the prime reasons for buying luxury homes in Kerala.

Kerala enjoys great connectivity with the rest of the country via roadways and railways. The highways spread across the length and breadth of this state is not only linked with the churches, mosques and temples but with the villas and multi-storeyed apartments too. The rush of investing in Kerala’s real estate market has attracted also the unscrupulous operators in this business line to such an extent that the government of Kerala has enacted the ordinance for regulating Kerala’s’ real estate. This makes Kerala the second state right after Maharashtra to be enacting such ordinance.  

Kochi still is the most preferred choice among the NRIs. The reason for the same is good connectivity, availability of reputed schools, colleges, universities, hospitals as well as employment opportunities. Coming to connectivity, Kochi is connected well by roads with the rest of Kerala and India. International flavor is added to this southern city by the international airports- Trivandrum International Airport, Kannur International Airport and Cochin International Airport.  Prime real estate zone of the city is Marine Drive and property prices are here sky high. However, Edapally is the most populated locality of Kerala with the average property price being Rs 4600 sq.ft. Over the last few months, it is only Edapally which has experienced hike in the property price.

Property Prices as of Aluva, a small nearby town have fell by 6% and is quoting approximately Rs 3700 per sq.ft. Other localities preferred by the home buyers willing to invest in Kerala are Panampally Nagar, Kaloor and Kakkanad. Talking of Thrippunithura, it served as the capital of Cochin in the past and has become the most preferred real estate destination. If you are looking for investing in any luxury apartment, this place has myriad if choices for you to proceed with the selection. Another real estate hotspot is Calicut or Kozhikode.  It has always been able to attract the IT companies and serves as the IT hub of Kerala. Of lately, The Indian Institute of Management Kozhikode has always been another cause of attraction for people willing to invest in the growing real estate market of this city. Kozhikode is also well connected to Mysore and Bangalore road and is also a very and well maintained city. The proposed plan of introducing Light Metro Rail has enhanced the value of this city.

Not to be missed, Kerala’s capital city-Thiruvananthapuram is too the second largest city of the state. Situated within a close proximity to Tamil Nadu border, it serves as the root of entrance between both the states. Generally, most of the residents here are government employees. Real estate development work is undergoing at localities like Vattiyoorkavu, Vazhuthacaud and Vellayambalam. Other places to make investment are Kollam, Kannur, Palalkkad, Kottayan, Kanhangad and Thrissur. And we already discussed about the thrissur real estate advantages. People are also investing in places like Cheranallur- Kochi’s northern suburb. Many NRIs and corporates have made investment in this particular village because of the ease of commutation from here to rest of the part of Kerala and the country. 

Some important factors to consider when buying  luxury homes in Kerala 

luxury homes

As you have plans for investing in Kerala’s real estate market, there are certain things that you need to consider so as ensuring that you are investing in the right place. The price, location and exclusivity of the properties are indeed important but searching for the best property involves some other concerns too. Here is the checklist for real estate investment in Kerala.

For the affluent home buyers, the task of selecting the right property is a difficult decision. You need to first enlist all that you desire to have with the property. You need to understand all your present and future wants from the property in order to ascertain that you end up with the right purchase decision.

  • Check the neighborhood

Location is the most important rather the primary factor to consider when buying luxury homes in Kerala. The strategic location of the apartment you have decided to invest in is highly essential. You should check whether there is any possibility of towering buildings sprouting in the locality in near future thereby imposing threat to the view from your balcony, blocking the entry of the sun’s rays and fresh morning breeze. Investment in real estate is an asset and the same again is not a short term investment affair. You can use online property search to get more relevant information without paying exorbitant rates.

  • Pay frequent visits

Once you have grabbed an idea about the available options for investment in your city, you can make visit to the properties and check out the features and facilities all yourself. During these visits, you can also check the neighborhood and evaluate add-on features that are available. This will assure you of the worthiness of the amount that you are paying for the property. A thorough home inspection will show you if there is any hidden danger in the house.

  • Evaluate facilities available

swimming pool

Check the amenities that you are getting with the property. Common facilities available with apartments are swimming pool, parking lot, kids and Adult Park, gymnasium, club house, barbeque deck and striking architecture. If you are going for independent houses, then do check personally the facilities you are getting.

  • Follow your heart and head

When you are going ahead with property search, emotions tend to guide you from within. It is simply about the art of balancing your heart and head.  It is recommended to let your head make the decision and heart follow the same because decisions made by heart can prove to be wrong. You need to make sure that the purchase is able to serve both your as well as the needs of your family members.

  • For under construction properties, check floor plan

floor plan

If you are deciding to make investment with properties undergoing construction, it is suggested to check the floor plan and grab details of the same. Ensure that the constriction is taking place with due adherence to the legal norms.

  • For second hand homes, get the legal paper work done beforehand 

For a house that is secondhand, you need to get the legal paperwork done beforehand. Make sure to check and receive the floor plan, tax papers, and the NOC certificate. 

  • Verify the builder’s identity

This is a very important thing to be adhered. Before finalizing the deed, make sure to conduct a small research on the builder’s identity. This will help you to keep away from fraud dealers. 

  • List of the banks financing the project

Bank financing

In case you need loan for purchasing the home, you can apply for the same with the banks which have agreed to finance the project with which you have decided to proceed.

Wrapping up

Investment in property is a very crucial task. You are making huge investment to get yourself a home and any mistake with in the dealing process can lead you into huge trouble. So make sure to take into adherence all the above mentioned tips mentioned in the checklist and enjoy a safe dealing.

Cheloor Group, the leading builders in Guruvayur is here to make your dream of owning an apartment near to the Lord Krishna temple. Contact us today for bookings or visit our website to learn more.

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