Real Estate Overview of Technopark, Trivandrum

Technopark, nestled in Trivandrum, stands out as one of India's biggest IT parks, greatly influencing the local real estate scene. If you're thinking about buying or renting in this area, a few key points are worth considering:

Economic and Employment Drivers

Technopark, established way back in 1990, has turned into a major center for the IT industry. It now hosts over 350 companies and provides jobs to more than 50,000 people. This attracts many professionals with their families, boosting demand for residential properties around here.

Property Types and Preferences

Mainly, it draws young professionals and their families. Consequently, there's a high demand for 1BHK and 2BHK flats, along with villas and semi-furnished apartments. People prefer housing that comes with top amenities, such as gated communities, luxury apartments, and villas. Features like swimming pools, gyms, and clubhouses are highly desired.

Infrastructure Development

The expansion of Technopark has led to significant improvements in local infrastructure. This includes better roads, improved water supply, and upgraded public transport systems. These enhancements have made the nearby locales quite appealing for both residential and commercial investments.

Property Prices and Trends

Prices for properties within Technopark and neighboring regions like Kazhakkoottam have seen a substantial rise. On average, prices range from around Rs. 3,170 per sqft to Rs. 5,496 per sqft, based on location and included amenities. Over the past five years, we've observed a notable increase of about 20% in areas such as Kazhakkoottam.

Rental Options

Rental options include a variety, such as semi-furnished apartments. For instance, a 3 BHK semi-furnished apartment in Kazhakkoottam can be rented for around Rs. 16,500 per month along with maintenance fees.

Future Prospects

The real estate market in Technopark and its vicinity seems set to grow due to ongoing expansion projects in IT hubs like Technocity and other upcoming IT initiatives. Thus, this region remains attractive for those eyeing both residential and commercial property investments. High potential for appreciation exists.

PropertyWala's Verdict

Technopark, Trivandrum, represents an excellent real estate prospect for both buyers and renters in its thriving IT sector environment. With enhanced infrastructure, a diverse range of housing choices, and promising growth, this area is perfect for those looking for comfortable living and promising investment returns. Conducting thorough research and taking into account factors like location, infrastructure development, and future growth prospects is wise. Getting insights from local real estate experts can guide you in making well-informed choices.