The Potential Impact of Smart City Projects on Kochi's Real Estate Market

Posted onFeb 17, 2025

You may have heard that Kochi is one of the cities chosen for the ambitious smart city project of the Indian government. But do you know exactly what a smart city is, and how it will impact your life, the city, and the real estate market trends in Kochi?

Let’s examine all these factors.

What is a Smart City?

The initiative was launched by the government of India in 2015, with a target of 100 cities and over 8000 projects, at an estimated cost of 1,65,000 crore rupees. Mind-boggling figures, for sure. The official mission objective  is to “promote cities that provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment through the application of 'Smart' solutions.” 

We can also say that it is an urban renewal and retrofitting program to make cities more citizen-friendly and sustainable. Certain areas within cities are marked for development and being made into ‘model cities’; the authorities are counting on a ripple effect so that this ‘model way of life’ gets adopted by other parts of the city.

While there is no one specific definition of what makes a city ‘smart’, it is obvious that it is a city where the citizens are able to live healthier, be more productive, and so on, while maintaining sustainability. This could necessitate different projects in different cities.

What are the main objectives of Smart City Kochi?

This is an IT park located roughly 12 km from downtown Kochi. The Cochin International Airport is about 22 km away. It is also easily accessible by rail and road.

• Establishing a modern and comprehensive water transportation system to connect Fort Kochi and other locations via ferry; improving existing jetties and providing better approach roads.
• Development of canal paths for functional and recreational purposes, parks etc to enhance the quality of life
• Promoting pedestrians and non-motorized transport, while using two-wheelers and autorickshaws (for last-mile connectivity) through a green transportation system
• Redeveloping slums and providing them with basic amenities and improved infrastructure
• Emphasis on energy efficiency, Wi-Fi hotspots, technology to manage utilities, and more.

Smart City Projects

The following projects that are underway or have been completed in Kochi Smart City, have led to the growth of sustainable real estate in Kochi:

•  Promotion of e-vehicles for public transport with ample charging stations, elated walkways and travelators to encourage pedestrians
• Smart traffic management with advanced cameras, detection of traffic violations, signals, and variable message signs
• Storage capacity of 5 million gallons of water in the Karuvelipady sump, and installation of a rider line to improve water transportation.
• Decentralized sewage treatment plant for Mudamveli
• Solar rooftops for renewable energy
• Public sanitation facilities
• Online portal to help citizens access essential services, like making payments on utility bills and traffic violation penalties, etc.; obtaining birth, death, or marriage certificates, licences, permits, and so on.

How Does this Impact Real Estate?

The availability of such an advanced ‘city’ is appealing to homeowners and investors. Those who are looking to buy a home see this as a golden opportunity to live a better quality of life and be more sustainable in their daily lives. The Kochi SmartCity is centrally located, which means it is all the more attractive to those who are working in the city — especially those in the IT industry.  It reduces commute, saving time and energy.

Investors are happy to invest in such properties that show a promise of robust growth; smart cities are the way of the future, and cities with these projects are definitely going to attract more entrepreneurs and professionals, all of which push up the demand for housing. Kochi also has an excellent public transportation system with buses, the Metro, autorickshaws, and local trains. Kochi real estate is definitely set to soar even higher thanks to the smart city project.

Conclusion

The impact of technology on the real estate market in Kochi is significant; it has revolutionized the way people search and compare properties. Now you can take a virtual tour of Kochi Smart City or of a Varma Homes apartment.

Varma Homes is one of the leading builders of Kochi with a number of projects in the best residential areas. Check out our RERA-approved apartment projects today.

Explore the elegance and advanced features of our luxury flats in Kochi at Varma Homes. Experience a blend of modern amenities and sustainable living in the heart of the city’s most desirable Smart City projects. Don’t miss out on the opportunity to own your dream home. Visit us today to see our RERA-approved projects and take the first step towards a luxurious future!

FAQ’s

What is a Smart City and how does it relate to Kochi?

A Smart City, as defined by the Indian government, focuses on providing core infrastructure, a decent quality of life, and a clean and sustainable environment through 'Smart' solutions. In Kochi, this initiative translates into several projects aimed at urban renewal and making the city more sustainable and citizen-friendly. These include the development of modern transportation systems, enhanced public utilities, and energy-efficient solutions.

How are Smart City projects in Kochi enhancing the real estate market?

The Smart City projects in Kochi are significantly enhancing real estate values by improving infrastructure and quality of life, which attract homeowners and investors. Key developments like e-vehicle promotion, advanced traffic management systems, and renewable energy solutions make Kochi an attractive hub, especially for professionals in the IT sector and those seeking sustainable living options.

What benefits can residents expect from Smart City Kochi?

Residents of Smart City Kochi can look forward to a variety of benefits that enhance their quality of life and daily convenience. These include improved transportation options like e-vehicles and better public transport connectivity, advanced utility management through technology, and access to essential services via online portals. Additionally, the focus on sustainable living with features like solar rooftops and decentralized sewage treatments aligns with modern environmental standards.