Investing in Property Near Ernakulam Pros and Cons

Looking for a House Near Ernakulam? Here some tips for you..

Advantages of Buying a House Near Ernakulam

1. Connectivity and Infrastructure:

   • Ernakulam is a major commercial hub, offering excellent connectivity through roads, railways, and Cochin International Airport.

   • Well-developed infrastructure with easy access to schools, hospitals, malls (like Lulu Mall), and public transport options like the Kochi Metro.

2. Job Opportunities:

   • The presence of several IT parks and corporate offices, such as Infopark and SmartCity, makes Ernakulam attractive for professionals. It is a growing economic zone, ideal for families and working professionals.

3. Quality of Life:

   • Ernakulam is known for its urban lifestyle while retaining cultural and scenic aspects of Kerala. The area has modern amenities, entertainment options, and social infrastructure while being close to nature with backwaters, beaches, and hills nearby.

4. Educational and Healthcare Facilities:

   • The city offers some of the best schools, colleges, and healthcare facilities in Kerala, including Amrita Hospital and Rajagiri Hospitals.

5. Property Appreciation:

   • Land and property values in and around Ernakulam have seen steady appreciation, driven by ongoing development projects such as the Kochi Metro extension and increasing demand for housing..

Disadvantages of Buying a House Near Ernakulam

1. High Property Prices:

   • Property prices in prime areas such as Marine Drive, Panampilly Nagar, and Vyttila are significantly higher compared to other parts of Kerala, making it expensive for middle-income buyers.

2. Traffic Congestion:

   • As a growing urban hub, Ernakulam suffers from traffic congestion during peak hours, especially in central areas like MG Road and Vyttila.

3. Water Logging:

   • During heavy monsoons, some areas near Ernakulam, especially low-lying areas like Kaloor and parts of Vyttila, are prone to waterlogging, which can be a concern for homeowners.

4. Air and Noise Pollution:

   • Due to rapid urbanization and development, some areas of Ernakulam experience higher levels of air and noise pollution compared to more rural parts of Kerala.

Points to Remember While Buying a House

1. Location:

   • Choose locations like Kakkanad, Vyttila, or Edappally for good connectivity to the metro and proximity to IT parks and amenities. Ensure the location is not prone to flooding during the monsoon season.

2. Budget and Financing:

   • Set a budget that includes not just the purchase price but also additional costs such as stamp duty, registration, and maintenance fees. Compare home loan options from banks for better interest rates.

3. Check for Legal Clearance:

   • Ensure the property has clear titles, necessary government approvals, and no legal disputes. Verify that the land is not under the Coastal Regulation Zone (CRZ) or environmentally sensitive areas.

4. Builder Reputation:

   • If purchasing from a developer, research the builder’s reputation, track record, and reviews. Check for RERA registration and ensure all paperwork is in place before proceeding with the purchase.

5. Amenities and Infrastructure:

   • Consider proximity to essential services like schools, hospitals, and markets. Ensure there is good public transport and access to roads.

Approximate Property Prices in Surrounding Areas

1. Kakkanad:

   • One of the fastest-growing residential areas due to the proximity to Infopark and SmartCity. The price of land here ranges from ₹5 to ₹12 lakh per cent (approximately ₹50 lakh to ₹1.2 crore per acre), depending on the exact location​.

   • Apartment prices range from ₹4,500 to ₹6,000 per square foot, with villas priced between ₹1.5 crore and ₹3 crore.

2. Vyttila:

   • A major transportation hub and central locality. The cost of apartments in this area can range from ₹5,000 to ₹7,000 per square foot. Land prices range from ₹10 to ₹16 lakh per cent, making it one of the costlier localities​.

3. Edappally:

   • Close to Lulu Mall and the metro station, Edappally has become a high-demand residential zone. Apartment prices vary between ₹6,000 to ₹8,000 per square foot, while land costs are around ₹12 to ₹20 lakh per cent​.

4. Panampilly Nagar:

   • A premium residential locality known for its upscale neighborhood. Land prices are around ₹15 to ₹25 lakh per cent, and apartment prices are above ₹7,000 per square foot, depending on the property type.

By considering these points and understanding the advantages and disadvantages, you can make a well-informed decision when buying a house near Ernakulam.