Kollam, Kerala Property Guide
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Kollam, Kerala Real Estate News
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Kollam Overview
Kollam, nestled in Southern Kerala, has caught the eye of many for its booming real estate market. Let's break down why Kollam is now a hotspot for property investors and buyers.
Infrastructure and Connectivity
Transportation
Kollam enjoys excellent connectivity via modern roads, sea ports, waterways, and railways. It’s a major rail junction, offering strong links within the district. Plus, boat services enhance its water connectivity.
Educational Infrastructure
- Literacy High literacy rate of 91.47% means Kollam has plenty of schools. There are about 473 primary and 213 secondary schools. Plus, top institutions such as Thangal Kunju Musalir College of Engineering and Sree Narayana Guru College of Legal Studies make it stand out.
Health Infrastructure
- Facilities Kollam leads in Primary Health Care (PHC) and Free Health Care (FHC). This city ranks top in pharmacy usage and sees many UHID visits and doctor consultations.
Commercial and Industrial Significance
Industrial Hub
Kollam shines in industries ranging from cashew nuts and fisheries to textiles, garments, light engineering, and dairy farming. Additionally, it has notable sectors like electrical and electronics, rubber, and leather.
Real Estate Market
Residential Real Estate
- Areas Two prime residential spots are Mundakkal and Asramam. Mundakkal features homes near Kerala Cashew Development Corporation Limited and plenty of amenities. Asramam is close to hospitals and schools, with the average price per square foot being ₹3,163.
- Prices Average properties are priced at ₹5,397 per square foot, with Mundakkal starting at ₹2,200 per square foot and Asramam at ₹3,163 per square foot. Other areas like Kottarakkara have prices starting at ₹4,681 per square foot, while Pallimukku comes in higher at ₹7,500 per square foot.
Commercial Real Estate
- Localities Kottarakkara and Karunagappaly top the list for commercial real estate. Kottarakkara hosts malls and businesses, whereas Karunagappaly has great transport close to Kollam Junction. Prices run between ₹90,000 to ₹2 crore.
- Demand Commercial real estate is hot, especially for seaside spots like hotels, resorts, and restaurants. Plus, Kollam is set to be a major IT hub with plans to upgrade its port.
Investment Opportunities
Growth
Kollam is one of Kerala's fastest-growing areas, emphasizing Transit-Oriented Development and city improvement. This growth is great for both residential and commercial real estate investments.
Government
The government is investing big in Kollam's infrastructure, like expanding the Kollam bypass and upgrading the port. These projects are set to boost real estate values and increase rental yields.
Summary
Kollam stands out as a top choice for real estate investment, whether residential or commercial. With great infrastructure, high educational and healthcare standards, and an expanding industrial and commercial scene, Kollam promises significant growth. Plus, thanks to strategic government initiatives for infrastructure, Kollam’s potential for long-term returns is tremendous.