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Is Buying an Apartment a Good Investment in Trivandrum?
Trivandrum, the capital city of Kerala, is a fast-growing hub for technology, tourism, and healthcare. The city's strategic location and booming economy make it an ideal place for investment in real estate. Buying an apartment in Trivandrum can be a good investment, provided you make an informed decision. In this blog, we will discuss the advantages and disadvantages of investing in an apartment in Trivandrum.
Advantages of buying an apartment in
Trivandrum:
High appreciation value:
The real estate market in Trivandrum is
growing rapidly, with property prices increasing year on year. Buying an
apartment in Trivandrum can yield high returns on investment in the future.
Future developments
Trivandrum will soon have its own metro rail
system, known as the "Light Metro," which is anticipated to enhance
both the standard of life for its residents and the city's development. The
upcoming Vizhinjam port is also expected to accelerate the development and
prosperity of the city. The real estate industry will expand as a result of all
these factors.Along with this the new 6
lane highway will make traveling to northern parts of Kerala much quick and easy
Stable rental income:
Trivandrum has a high demand for rental
properties, making it an ideal place to invest in an apartment. Investors can
expect a stable rental income from their investment.
Technopark
Technopark, the IT centre in Trivandrum, is
growing and is expected to soon surpass all others in size in the nation.
Currently, Technopark is home to over 350 Indian and international businesses
that hire over 60,000 professionals from all over India. As a result, there
will be a higher demand for homes to accommodate the expanding population.
Developed infrastructure:
Trivandrum has well-developed infrastructure,
including excellent road networks, public transportation, and healthcare
facilities. This makes it an ideal place for families and professionals to
live, which further increases the demand for apartments. As it's the capital of
Kerala state all head offices of governments and other agencies are found here
and chance of people renting apartments for work related reason is high and
this makes is a perfect place to invest (high returns on rentals)
High-quality construction:
The construction quality of apartments in
Trivandrum is high, with most builders using high-quality materials and modern
construction techniques. This ensures the durability and longevity of the
property, reducing the maintenance costs over time.
Tax benefits:
Investing in an apartment in Trivandrum comes
with several tax benefits. Investors can claim tax deductions on the principal
and interest paid on the home loan, which can significantly reduce their tax
liabilities.
Tourism
Nestled on 7 undulating green hills,
Trivandrum is blessed with a bounty of natural beauty spots including a number
of attractive beaches. Having been the capital of the erstwhile Kingdom of
Travancore, the city is also home to numerous beautiful old buildings and
tourism spots for both domestic and international tourists.
In conclusion, buying an apartment in Trivandrum can be a good investment if done with careful consideration. Factors such as location, construction quality, rental income potential, tax benefits, legal due diligence, and market fluctuations should be taken into account before making the investment. By following these guidelines, investors can ensure that they make a wise and profitable investment in real estate in Trivandrum.
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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