The capital city of Kerala, Thiruvananthapuram (TRV), known for its extravagantly green and beautiful landscapes and unceasing vitality, has been conferred with the label of 'The Evergreen City of India'. The political, academic and industrial hub that this city has become in the last few decades has attracted a large number of people from the neighbouring cities seeking job, business and academic opportunities. This in turn has sparked a demand for affordable housing.
Affordable housing is the most chewed over issue in the real estate sector in present times because of growing requirement of housing for the lower income population. Being the capital city, TRV has witnessed a substantial growth in infrastructure in the last few decades and has also been selected for centre's 'Smart City' project recently. With fast developing infrastructure, the dream of affordable housing will soon be a reality in TRV.
Prime areas
The central part of the city, well connected by means of road and rail network, is a promising option for affordable housing. The city bypass road starting from Kazhakoottam and further extending to Kovalam establishes good connectivity within the city. NH-66 passing through Kazhakoottam connects TRV to Ernakulam (Kochi).
Northern suburbs with improving infrastructure have witnessed a rapid growth in real estate. While Karakulam offers affordable houses starting from Rs 15.1 lakh onwards, Mannanthala offers the same in the range of Rs 24.4 lakh.
Southern areas of Kaithamukku, Thycaud, Pallithura, Nemom offer a good many employment opportunities due to the presence of SME industries in the region.
Western TRV is the most developed due to its close proximity to IT hub, smooth connectivity, and well developed infrastructure although land availability is quite low in this region. Areas such as Kazhakkoottam, Sreekariyam, Ambalamukku, Kulathoor, Aakkulam are witnessing huge growth.
The eastern region with availability of large parcel of land and a close proximity to the industrial areas has emerged into a promising space for affordable housing and commercial investments. With the main central road (MC Road) passing through Vembayam, Kesavadaspuram, Venjaramoodu, Kilimanoor, and Nilamel in the north, connectivity within the region is fairly good.
Growth factors
Located on the west coast, the city is accessible by means of rail, air, roads and waterways and therefore, experience movement of people throughout the year. It enjoys connectivity to major surrounding cities like Bengaluru, Hyderabad, and Chennai facilitating trade and investments between them. NH-66 connects TRV with other big cities within the state, like Kozhikode and Kochi, and outside the state, like Mangalore. It is also connected with state highway 1 starting from Kesavdaspuram resulting in better connectivity within the city.
The government's recent proposal of high speed rail connecting Kozhikode to TRV is likely to improve commuting time for city's inhabitants. Remarkable growth in connective modes has made TRV the focal point for investments and business. According to PropEquity report 2015, the city stood at fifth position in top ten investment destinations in Tier-II cities.
The city plays an important role for civil and military aviation as it has an international airport and hosts headquarters of the Southern Air Command (SAC) of the Indian Air Force, thus having a strategic advantage by ensuring better connectivity and infrastructure. Vizhinjam International Seaport once operational, will be country's first deep sea port enabling the unloading of heavy vessels in the country, which earlier could have been done only in other countries. This proposed plan promises to lift the city's economy and infrastructure drastically.
TRV district is home to some 250 IT companies and employs more than 40,000 professionals. It also harbours many state owned industries and SMEs producing employment opportunities for the local population, giving a significant rise to demand for residential houses. The immense development that this city has undergone in the last few decades makes affordable housing segment a good prospect in Thiruvananthapuram suburbs.
Development indicators
- Proposed High Speed Railway (HSR) project will improve connectivity and facilitate trade
- Upcoming Vizhinjam International Seaport to drive infrastructure and job opportunities in the region
- Proposed expansion of the airport to boost connectivity
- SEZs proposed in the suburbs creating business opportunities
- Smooth connectivity via NH-66 and main central road (MC Road)
Booming regions
- Kovalam, PTP Nagar, Kazhakkoottam, Pallithura witnessing growth due to good connectivity
- Sreekaryam, Kulathoor, Akkulam in close proximity with the IT hub
- Eastern region offering lucrative investment options due to land availability
