RoggerEllis
04/25/09, 07:30 PM
The Kerala government aims to bring in comprehensive new legislation on land and property in Kerala. The set of new regulations aims to deal with issues such as the indiscriminate filling of paddy fields by construction companies, a reduction in stamp duty, filling up of water bodies, also by construction companies, fixing land prices to stabilize the market and levying a building tax on apartments. The new measures, when introduced, will have an impact on the fast growing real estate market in the state as well as a positive impact on the environment.
The Government's green signal to the Smart City project has made a surprisingly quick impact on the real estate sector in the Kakkanad area, where the project will be located. In recent years the real estate prices have gone up. The reports say that Smart City project would be inked by April 30, the real estate sector warmed up and middlemen and brokers got active. There was at least a 10 per cent hike in the speculative price of real estate in Kakkanad area. Brokers, middlemen and developers are all excited about the project. For nearly three years, the real estate sector has been banking on the Smart City to jack up land and house prices in the Kakkanad area, which has recorded the steepest rise in real estate prices. Few years back, Kakkanad, which used be full of paddy fields, hills and a dozen monasteries and nunneries, used to be a sleepy area. The arrival of Info Park and the IT companies getting attracted towards Kerala all lead to the scores of Apartment Tripunithura (http://www.lotusproperties.in/), apartment Kochi and as a whole the real estate business in Kochi. The projects changed the landscape. Hundreds of acres of paddy fields got transformed into real estate hot property. The plan to locate Smart City in the Kakkanad area three years ago further boosted the real estate prices. Anticipating hefty value appreciation in the future, speculators bought up every available piece of land. Over the past three years, there have been several ups and downs in the prospects of the Dubai projects. And, every time there was a positive development, the real estate prices in the entire Kakkanad area went up. When there was a setback, the prices fell. :Cat Smiley 6111:
The Government's green signal to the Smart City project has made a surprisingly quick impact on the real estate sector in the Kakkanad area, where the project will be located. In recent years the real estate prices have gone up. The reports say that Smart City project would be inked by April 30, the real estate sector warmed up and middlemen and brokers got active. There was at least a 10 per cent hike in the speculative price of real estate in Kakkanad area. Brokers, middlemen and developers are all excited about the project. For nearly three years, the real estate sector has been banking on the Smart City to jack up land and house prices in the Kakkanad area, which has recorded the steepest rise in real estate prices. Few years back, Kakkanad, which used be full of paddy fields, hills and a dozen monasteries and nunneries, used to be a sleepy area. The arrival of Info Park and the IT companies getting attracted towards Kerala all lead to the scores of Apartment Tripunithura (http://www.lotusproperties.in/), apartment Kochi and as a whole the real estate business in Kochi. The projects changed the landscape. Hundreds of acres of paddy fields got transformed into real estate hot property. The plan to locate Smart City in the Kakkanad area three years ago further boosted the real estate prices. Anticipating hefty value appreciation in the future, speculators bought up every available piece of land. Over the past three years, there have been several ups and downs in the prospects of the Dubai projects. And, every time there was a positive development, the real estate prices in the entire Kakkanad area went up. When there was a setback, the prices fell. :Cat Smiley 6111: