Everyone strives to achieve the key milestone of home ownership. And it becomes a notable accomplishment while purchasing a flat in Trivandrum. Despite being the capital of Kerala, Trivandrum is still expanding both vertically and horizontally. There is a tonne of residential developments underway throughout the city, which gives homebuyers a tonne of options since the real estate market is booming!
With miles of tranquil beaches, several lakes, and eco-tourism in the enigmatic Western Ghats, Trivandrum is renowned for its natural beauty. However, prospective homebuyers are attracted to Trivandrum just as much as tourists are. Given all the city has to offer, it is understandable that those looking to purchase apartments choose Trivandrum.
Since it became the capital of the Kingdom of Travancore in 1795, this historically significant city, with roots dating back to the tenth century, has been linked to the aristocracy. Trivandrum’s continuous status as the nation’s capital even after independence has resulted in great infrastructure being in place as well. In addition to having some of the best multispecialty hospitals in the country, the city is also highly renowned for its top-notch educational institutions and medical travel.
Trivandrum, the capital of Kerala and the second-largest city in the state, is constantly expanding in terms of real estate investments as a result of the numerous factors listed below:
IT Hub
More than 350 businesses and organisations with almost 60,000 employees are based in Trivandrum’s Technopark, the city’s information technology centre, which opened its doors in 1990. The city’s current expansion, which includes the addition of 37 hectares of land as part of Phase IIII extension, is largely owed to its well-established IT hub.
A Growing Job Market
As was already said, Trivandrum is a rapidly expanding IT centre, home to large international corporations like Oracle, Infosys,TCS, UST Global, Confianz, etc., which has increased work prospects and drawn many IT professionals from throughout the state and nation. not to mention the expansion of other industries. In consequence, this has significantly increased the city’s real estate market.
Upcoming developments
The Trivandrum Light Metro is a suggested name for the metro train system that the Keralan government intends to build. It will be one of the major city developments, boosting the real estate market and the local economy. The well-known Vizhinjam harbour project will also fundamentally alter the course of the city’s development once construction begins.
Social Infrastructure
Trivandrum has everything, including international schools, colleges, multi-specialty hospitals, and world-class shopping malls.
Natural Heaven
Trivandrum, like most places in Kerala, is endowed with stunning landscapes and water features. The city is renowned for its beautiful weather and less polluted surroundings.
Lifestyle
The city has become increasingly active as a result of the rapid growth in the number of retail malls and centres, multiplexes, multinational food chains, and other commercial hubs, giving it a multicultural, cosmopolitan culture.
Home loans
The banks are currently offering the lowest interest rates on house loans ever, making this the ideal time to purchase apartments in Trivandrum. Most banks now provide home loans with interest rates as low as 7% as a result of RBI’s numerous repo rate reductions. Before applying, make sure to check your CIBIL score. CIBIL scores between 750 and 800 entitle you to very reasonable EMIs for the duration of your loan.
Perks
A significant amount of merchandise accumulated during the pandemic with few serious purchasers in between. The majority of folks preferred the wait-and-see strategy. Builders need money to continue forward with other projects, but because sales have stagnated, the majority of builders are providing incentives to get customers to commit. As a result, homeowners now have more negotiating power and a large number of “ready-to-move-in homes” are offered at “under-construction” prices.
Market for Buyers
At prices in the inexpensive class, you can readily find high-quality properties. This is due to the buyer’s market we are currently seeing, where strong projects may not provide substantial discounts but may instead include free amenities like parking or more favourable repayment terms.
Market Boom
A boom in the property market and its pricing is anticipated soon since Technopark will need additional high-quality residences to accommodate the well-travelled personnel of upcoming MNCs.
This is the ideal time to make a real estate investment, thanks to a recovering economy and job security. The majority of individuals learned the value of having tangible belongings and a place to call home throughout the pandemic. They also started to think more about investing in reliable assets and ensuring the safety of their family. The investment returns from purchasing a flat are also certain, as rental incomes are expected to steady.
Due to the rapid market change, now is the ideal time to invest in or purchase residential properties, flats, and apartments in Trivandrum. One of Trivandrum’s most reputable and trustworthy builders, Varma Homes, provides high-quality residential buildings with top-notch amenities in excellent locations.
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