The real estate sector in Kerala is not streamlined as it is in many other states. The government of Kerala was giving final touches to the Real Estate Authority Bill, modeled on the lines of the Real Estate Authority Bill introduced by the Central Government. This was announced by Urban Affairs and Town Planning and Development Authority Minister Manjalamkuzhi Ali at ‘Recon 2014’, Kerala’s first real estate convention, in Kochi.
The New Era of Mixed Use Development
Developments focusing on mixed use and entertainment is on the rise in Kerala. There are lot of such developments are happening across the state. The Lulu mall in Kochi and the Hilite City in Kozhikode are few such developments.
Mixed Use Development is the best bet for the realty sector as it provides convenience of shopping and other facilities at one place. Scarcity of land within cities and travel issues to fulfill different needs is a problem and mixed use facilities is a solution to some extent.
The million-plus urban conglomerations in Kerala
Kerala has six new million-plus urban agglomerations out of which 2 of them (Kochi and Kozhikode) are with a population of 2 million plus.
These agglomerations needs more infrastructure and real estate developments. This will bring much more investments in the reality sector of Kerala.
Arrival of Tall buildings
Kerala also recently witnessing many skyscrapers being built across the state. Several high-rises are located in different cities which include Kochi, Kozhikode,Thrissur, Trivandrum, Kannur and Kollam. As of 2013, Choice Paradise which is located in Kochi is the tallest building constructed Keralawith a total height of 126 metres (413 ft) and with 40 floors .Burj Al Hind in Calicut is the tallest building in kerala under construction (142 meters 40 floors). Hi lite builders proposed a 55 stories (220 meters) tower in Calicut which will become the tallest building in south India when completed.