Buying a home is a major milestone that everyone aspires for. And when it comes to buying a flat in Trivandrum, it becomes a remarkable achievement. Though Trivandrum is the capital city of Kerala, it is still in its growing phase – both vertically and horizontally. Real estate is booming with numerous residential projects going on in all parts of the city, spoiling homebuyers for choice!
Trivandrum is known for its natural beauty, with miles of serene beaches, numerous lakes and eco-tourism in the mysterious Western Ghats. However, it’s not just the tourists who find Trivandrum appealing, but potential homebuyers too. There is so much going for the city, it’s no wonder that people who want to buy apartments turn to Trivandrum.
This culture-rich city has a lineage going back to the tenth century and has been associated with royalty since 1795 when it became the capital of the Kingdom of Travancore. By virtue of the fact that Trivandrum continued to be capital even after independence has meant that there is excellent infrastructure in place too. The city is well-known for its premier educational institutions as well as for its excellent multispecialty hospitals and medical tourism.
Aside from all this, Trivandrum is also home to one of the largest IT hubs, the Technopark, which employs over 60,000 techies from all over the country. This insurgent population is also fuelling the demand for more homes in Trivandrum and developers are rising to the occasion with numerous flats for sale in key areas of Trivandrum. The country saw a number of ground-breaking changes over the last few years including demonetization, the introduction of GST and the implementation of RERA.
And when these ups and downs were finally rounded off by the current pandemic, a whole sea change in sentiments occurred in the minds of those people sitting undecided about purchasing a home. Here’s a detailed look at some of the factors that make this the right time to buy flats in Trivandrum:
With a recovering economy and stability in jobs, this is the best time to invest in real estate. The pandemic taught most people the importance of owning tangible assets and a roof to call their own. They also became more conscious of security for their family and investing in solid assets. With rental incomes set to stabilize, buying a flat is sure to get you good investment returns too.
This is the best time to buy flats in Trivandrum as banks are also offering the lowest interests ever seen on home loans. Due to a series of repo rate cuts by RBI, home loans with interest rates as low as 7% are being offered by most banks. A word of caution – do check your CBIL score before applying. CIBIL scores above 750-800 qualify you for very decent EMIs throughout your loan tenure.
The pandemic also saw a lot of inventory build-up with few serious buyers in between. Most people preferred the wait-and-watch approach. Builders need capital to move on to other projects, but with stalled sales, most builders are offering perks and sops to encourage homebuyers to make a commitment. The end result is that homebuyers now have greater bargaining power and many ‘ready-to-move-in homes’ are available at ‘under-construction’ rates.
You can easily get quality properties at the rates of those in the affordable segment. This is because we are going through a buyer’s market where good projects might not offer substantial discounts, but they will throw in complimentary features like free car parking or better repayment options.
With more quality homes being needed to house the well-traveled employees of incoming MNC into Technopark, a boom in the housing market and its pricing is expected soon.
All this makes the current time to be the right time to buy luxury flats in Trivandrum. For those on the lookout, check the delightful ‘Anthem’ flats by PPD located in Kowdiar. Offering classy 2, 3 & 4BHK flats, these homes are tailor-made to feature all world-class fittings, finishings and amenities suitable for the entire family’s needs.
Come be a part of the Prime Property Developers family today and invest in a flat in Trivandrum – while the time is still right!