Real estate surges in KeralaÂ

[alexy25]

The boom of the IT sector has proved to be an added advantage for the real estate in kerala. The state known as ‘Gods’ own country’ has always been praised for its scenic beauty and aesthetic tourist locations.  Tourism was earlier the main industry, which had its influence upon the real estate sector in the state. The builders and property dealers benefited mostly from the luxury resorts and hotels in tourist locations, as they mainly targeted the tourists and such visitors in these spots. Currently, the builders’ gains are influenced not only by the tourism sector, but also by the IT field that is surging at a rapid pace.

As a result of the surge in the IT industry, people are shifting their residences near to the IT centers. They aim to pursue a better career and lifestyle. People prefer to buy a ready to occupy villa, apartment or flat in the new town, rather than constructing homes on their own. Both luxury and premium homes are equal in demand. The demand for space for all the upcoming IT firms and multinational companies has become a necessity. The builders thus compete to avail projects from these business concerns. The shopping malls and health therapy centers are also on the rise. Builders concentrate on such ventures since people nowadays give much importance to these.

The real estate land owners and dealers also benefit much. The cost of land and property is on a constant rise in Kerala. Thus it is profitable both to sell and lease out land for a particular period of time.