The capital city of Kerala, Trivandrum is the largest city in the state of Kerala. This city being the major spot of state and central government formulations are in great demand to set up houses or any establishments. There is going to be a gigantic retail revolution in the city with an intrusion of more malls and outlets of international brands over the next couple of years. Once you are ready to invest, the city has excellent prospects to offer... Further, read on to know – Is Trivandrum (Kerala’s capital and the second-largest city in the state) the rising real estate destination in 2020.
Just like Kochi, Trivandrum is an upcoming city of Kerala and is steadily growing in terms of the real estate investments.
Like most of the places of Kerala, Trivandrum is also blessed with engaging surroundings and water bodies. The city is known for its less-polluted environments and good climate.
With economic growth of 13.83%, Trivandrum/Thiruvananthapuram is the fastest growing district in Kerala. Its economy comprises of IT, education, aerospace, commercial, plantations, and tourism-related activities. The city houses paramount IT giants like Oracle, TCS, Infosys, Ernst & Young, and McKinsey & Company. In addition, several new biotechnology, IT and industrial campuses like Technocity and Bio 360 Life Science are propounded to boost the economy and employment opportunities.
Trivandrum has a well-developed road transport infrastructure. It is served by NH-66. The new bypass stretching 4 Km between the Technopark campus and the upcoming IT campuses will push the demand for more residential units. Thereby witnessing the emergence of a comprehensive range of residential projects in the near future.
Technopark, the IT hub in Trivandrum is home to more than 350 companies and consortiums employing nearly 60,000 professionals. With more and more IT companies looking forward to spreading their wings in the city; real estate is making rapid strides to match it. Townships will offer a neighborhood with quick access to several amenities and amplify the region’s economy by means of creating new opportunities. Localities like Neyyatinkara which fall in the vicinity have started picking the stride and are receiving special notice from the developers of townships.
May it be International educational institutes, multi-specialty hospitals or world-class shopping malls Thiruvananthapuram has everything to offer…
Kerala Government has initiated a plan to develop a metro rail system in Trivandrum named “Trivandrum Light Metro”. It’s going to be one of the major developments in the city, raising the real estate industry and economic growth.
Apart from this, shopping malls like Artech realtors are set to open at Pattoor. It’s one of the most happening shopping destinations – worth at providing trendy collections in apparel, bags, sports, and footwear, including International and domestic brands. It is expected to be opened in May. The gross development area is around one lakh sq ft across basement + ground + four upper floors.
This Lulu mall at Akkulam is a mall-cum-hotel project. With an investment of Rs. 2,000 crore, it is expected to generate about 5,000 job opportunities. It will be coming up in over 20 acres of land and is expected to feature 200 international brands, food courts, ice skating rink, lulu hypermarket, entertainment center for kids, nine-screen multiplex, parking space for more than 3,000 cars and much more.
Downtown Trivandrum, being instigated by Taurus along with its associates Embassy Group and Asset Homes is a mixed-use proposal with 55 lakhs Sq ft of built-up space in 20 acres of land located within Phase 3 of Technopark. It includes 175 key business hotels to be operated by Hilton and the first phase of the Taurus project is expected to be completed in 2020.
In accession, the proposal comprises Embassy Taurus TechZone, Trivandrum – a state-of-the-art office complex enclosing 33 lakh sq ft of collective and blooming workspaces, Taurus Zentrum, Trivandrum - a 12 lakh sq ft world-class, retail and entertainment kernel, Asset Taurus Identity- 315 units of serviced residences. On completion, Taurus Downtown is expected to generate 35,000 direct employments, about 75,000 indirect employments and is will amplify the region’s economy by means of creating new opportunities…
All these developments are expected to launch Thiruvananthapuram to an international standard. Kerala has time and again showcased its flair to be a major real estate hotspot. Now is the perfect time to invest, as the reality sector in Trivandrum is scorching up!