Over the past decade or so, the capital city of Kerala has become increasingly urbanized, and its landscape and skyline have been changing. Urban planning has gone into full speed, with several new infrastructure projects being implemented and many more on the anvil. As the capital, Trivandrum is already home to many prominent institutions and offices, making it an appealing place to live. With more people moving to the city for employment, education, and entrepreneurial activities, the demand for residential properties in Trivandrum has skyrocketed.
The efforts of the government to improve connectivity through various means has also borne fruit and today commuting within the city and travelling to other cities has become easy and convenient. Let’s look at the factors shaping the real estate market trends in Trivandrum:
Entrepreneurship Opportunities
Thanks to the government incentives, establishment of IT parks, a robust ecosystem for startups that includes an excellent network of accelerators and incubators, there is a favourable atmosphere for startups. The soft policies aimed at encouraging entrepreneurs and the various sops given to startups have turned Trivandrum into an attractive destination for business and investment, giving rise to innovation and entrepreneurship; it also attracts qualified professionals seeking gainful employment. The Technopark at Kazhakkoottam is spearheading the digital revolution with its vast campus and world-class facilities.
Also read:The Future of Real Estate in Trivandrum
Location and Connectivity
Trivandrum has an excellent network of roads that criss-cross to make commuting within the city fast and convenient. It is expected that the Metro Project will be completed soon, further improving intra-city commute and reducing traffic congestion in the city. The public transport system in Trivandrum is very efficient and enables citizens to commute inexpensively.
The city is also well-connected to other cities in Kerala and the rest of the nation. The NH 66 is one of the prominent highways passing through Trivandrum. Its strategic location, the existence of an international airport and a seaport, all combine to ensure global connectivity, trade, international collaborations and cultural exchange. There are many infrastructure projects that have been planned, aimed to develop the city further and make it more attractive to investors. All these factors have a positive impact on the future of real estate in Trivandrum.
Health and Education
Trivandrum has always been renowned as a centre for quality education and healthcare. A number of prominent hospitals like Sri Chitra Thirunal Insitute, KIMS, and Jubilee, offer cutting-edge healthcare to patients. Medical tourism is a thriving industry in Trivandrum, as the hospitals are well-equipped and have highly qualified doctors.
There is no dearth of outstanding schools in the city, affiliated to various boards. Educational institutions like the Govt Engineering and Medical Colleges, and a host of excellent privately run colleges, bring people from all over the state and even the country.
Additionally, there are several research institutes in the field of agriculture, space, and so on, drawing people from all over the country.. The research institutes foster innovation and academic excellence. ISRO, the Thumba rocket launching station and the Vikram Sarabhai Space Centre are the pride of the nation itself.
Quality of Life
Trivandrum is a huge city, with enormous green spaces; great efforts have been made by town planners and authorities to ensure sustainable development and clean environment, and that the scenic beauty of the region is undisturbed. This ensures that people have a higher quality of life in Trivandrum.
Conclusion
The way the infrastructure projects are being planned and executed in the city of Trivandrum, we can say with some certainty that it is poised for massive change and intense development. The economy of the city is robust and is growing steadily. This augurs well for the real estate market, and for real estate investors who are looking for opportunities in Trivandrum.
FAQ
Q: How is the growth of entrepreneurship affecting Trivandrum’s real estate market?
A: Trivandrum’s real estate market is positively influenced by the rise in entrepreneurship, largely due to government incentives, the establishment of IT parks, and a supportive ecosystem for startups. This environment not only attracts businesses but also professionals from various sectors, increasing the demand for residential and commercial properties.
Q: What role does connectivity and transportation infrastructure play in shaping Trivandrum’s real estate development?
A: The city’s well-planned road network, the anticipated completion of the Metro Project, and efficient public transport systems enhance intra-city mobility, making it an attractive locale for residents and businesses alike. The presence of an international airport and seaport further bolsters Trivandrum’s appeal, facilitating global connectivity and attracting investment into the real estate sector.
Q: How does the availability of quality healthcare and education facilities impact the real estate market in Trivandrum?
A: The presence of leading hospitals and a wide range of educational institutions makes Trivandrum a hub for medical tourism and higher education. This attracts individuals and families looking for quality healthcare and educational services, thereby spurring the demand for housing and supporting the growth of the real estate market.
Q: Can you explain the importance of location in Trivandrum’s real estate investment opportunities?
A: Trivandrum’s strategic location, enhanced by its connectivity to other cities and its infrastructure projects, positions it as a prime spot for real estate investment. Areas close to IT parks, educational institutions, and healthcare facilities are especially sought after, as they promise a blend of convenience and quality of life.
Q: What future developments are expected to influence the real estate market in Trivandrum?
A: Ongoing and planned infrastructure projects, such as the Metro, along with developments in healthcare, education, and green spaces, are set to further drive the city’s real estate market. These developments not only promise to enhance the quality of life but also signal robust economic growth, making Trivandrum an even more attractive destination for real estate investors and homebuyers.
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