Kerala, Recession and the dream home search...

As we all are aware, the whole world is feeling the crunch of recession. Since not much is required to be explained, what we are bothered about is whether this is the right time to Buy a House or not.

Let us look into some interesting facts from various sources:

Kochi's urbanized and modern culture is facilitating this city in reaching new heights in the property market. The ongoing developments taking place in this city is attracting people from around the world. If you are looking for a property in Kochi, then through this chart you can get to know all about the property rates of the most sought after localities in Kochi. The following chart carries the in depth property rates for the months of October 07, January 08 and July 08. This report tells you about the approximate capital and rental values for apartments and plots in the various localities of Kochi. The comprehensive chart has property rates which will help you in making the right decision of buying a suitable property.

(Source: MagicBricks.com, 17-12-08)

A Kochi enthusiast would be well aware about the kinds of upcoming projects in Kochi and surrounding areas, at the same time he/she would be more concerned about the present scenario in the state. Most of the projects are yet to take off and no body is sure if anything would take off at all! The much hyped Smart City, even though the foundation stone has been laid an year back, is still in its planning phase. The same had resulted in the steep hike of land prices in the surrounding areas (in and around Kakkanadu) and also a lot of residential projects also have propped up from nowhere. More over, we can see the number of builders and developers are increasing on a daily basis.
Watch the Smart City Model Video by clicking on the link below
http://in.youtube.com/watch?v=ljVmHFInrlA

Has the recession really afected the real estate market in India? Click on the link below to watch the video:
http://in.youtube.com/watch?v=GpRSjTUH1Ck


From the on ground research done by our expert team, yes we could conclude that recession has affected the real estate market. Most of the sales personnel of the most prominant builders have stated that their sales have come down. Another interesting fact is that no body of the same lot have confessed that the sale is nil! Our Market research team has figured out that out of the 100 sale done by 50 prominant builders in Kochi, 80 % of the buyers have availed more than 60% (on the total property cost) bank loan. This contributes to the fact that the desired are still going for it! More over, with the banks slashing interest rates to a much lower levels...who says this is not the right time to buy your dream home?

Click on the link below for more on Home Loan rates
http://www.apnaloan.com/home-loan-india/rates.html
Also vist the following links for a better insight:
http://in.biz.yahoo.com/071011/203/6lsvm.html
http://in.biz.yahoo.com/071013/203/6lwm8.html
http://in.biz.yahoo.com/071015/203/6lyrt.html
http://in.biz.yahoo.com/080131/138/6qbua.html

Following are the links which point towards the scale and pace at which the Kerala Real Estate Scenario is moving at:

http://www.inrnews.com/realestateproperty/india/kerala/
http://www.inrnews.com/realestateproperty/india/kochi/

Do check in for more property postings in the coming days...