Living Space

The real-estate boom witnessed by Kerala, particularly Thiruvananthapuram, in the last two to three years looks all set to stay. This includes demand for houses, apartments and even properties. The main reason for this sudden rise is definitely the better financial conditions of Keralites.

With more Malayalis migrating in search of greener pastures, foreign money is flowing into the state unhindered. With oodles of residual money to spare, NRKs are looking for proper avenues to invest their hard-earned money. With gold losing its glitter in the world market and thereby in India, real estate seems to be the safest option. There is more to this affinity. With the sudden dip in bank interests, people now find bank deposits unattractive.

Thiruvananthapuram, being the administrative capital, has always been slow in accepting developments. That was why the concept of community living (living in apartments) took such a long time to catch up here. But as people became more and more aware of the advantages of living in apartments, their demand saw a sudden surge. And it is not very far from truth to say that NRIs broke the concept of owning and living in an individual house. They always look for an investment worth their money and find apartments fitting for the purpose. With many luxury apartments available as a package with facilities such as children's play area, swimming pool, health club, etc, many find owning an apartment a prestige factor.

But there is no dearth for conservatives who still look for individual houses, where they can look at the four corners of their house. There are many property developers who cater solely the Kerala Apartments which is a symbol of ever accepted culture. They design the layout in consultation with the property owners, keeping in mind their ideas and opinions. The advantage of such an arrangement is that the property owner can decide on the layout and interiors of his house. Whereas in an apartment he is forced to accept what is being offered readymade.

Many Malayalis are now reverting to their superstitious old days. This change can be viewed while designing the house also. With the ever-increasing population, living space has become a grave issue. And the solution seems to be widening of the city limits. This would only mean more and more houses and apartments, which is conducive for further development in the real estate arena.