Vytilla is a part of
Kochi that has witnessed a spurt of residential & commercial projects. It is one of the largest
& busiest intersections in Kerala.
This node intersects the main north
south artery of the state with National Highway (NH) 47 through 3 city
roads.
According to Mr.
Joseph Mathew, an independent property consultant, property prices have risen
by 30% in the vicinity. The proposed Kochi Metro will pass through this area.
He said prices are expected to rise 40 to 50% once the metro becomes
operational.
There is an
increasing demand for properties near Kochi metro stations in anticipation of a
spurt in property prices once the project is completed in 2016. Values of flats
at Kaloor, Edapally & Aluva (expected metro stations) vary from Rs. 2,500
to Rs. 5,000 per square feet and are expected to rise by 15% every year.
Mr. Kishor J bought a
3 BHK flat in 2007 near Vytilla for Rs. 41 lakh. When he purchased the
property, the building was under construction. “Today the cost of the same flat
has appreciated to Rs. 65 lakh,” he says. That’s a about 60% return in 5 years,
a good bet for those looking at property solely for investment purpose.
Source: BS
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