Varying in value from place to place

[Cayman]

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The present Kerala Real Estate developments are mostly confined to the prominent cities of Kochi, Kozhikode and Trivandrum.  The other smaller cites and towns, even though it witnessed significant appreciation in real estate values are no match for the developments in the above three cities.  Several factors have contributed to the boom in real estate in these destinations.  One of the main aspects is the continuous migration of people to these cities from other parts of the state and from other countries.  
 
In Kochi and especially in the main city areas, there is a proliferation of construction activities.  High-rise buildings are now coming up like mushrooms and within a short period, there will be no space left as vacant land.  The concrete jungle will leave no lung space for tress and other natural vegetation. 
 
For large families, managing large tracts of land in the urban areas is a difficult task.  Not only that, the high cost of labor and the amount needed for the up keep of the old fashioned large houses is very costly.  Thus, more and more of such large households are now selling off their bungalows and properties located in prime areas and moving off to other localities.  Large tracts of land are now available for development and the leading builders are now making use of these vast spaces to put up high-rise buildings.
 
For the younger generation, the traditional houses and housing amenities are out of fashion.  They are more interested in life in high-rise apartments and flats.  With the proliferation of the nuclear households, flats and apartments now have many takers.  In cities like Kochi, you can see luxury apartments costing several crores of rupees to small apartments in the range of 3 to 10 lakh rupees.  With the middle class people getting more interested in flats and apartments in the farther areas of Kochi city, the leading builders are now offering apartment units at affordable prices.