kochi report

The inviting and magical world of Kochi boasts of hundreds of is-lands, some even uninhabited, and is part of the soothing and serene backwaters of Kerala. One says the city’s modern name is derived from the Malayalam words, Koch Azhi, meaning ‘small lagoon’. The city is a perfect retreat for tourists with its unique houseboats pro-viding a spectacular view of the picturesque backwaters. Truly, a paradise found.

THE LAKEKOChi

lAGOOnOF THE

Kochi was the centre of Indian spice trade for many centuries, and was known to the Yavanas (Greeks) as well as Romans, Jews, Arabs, and Chinese since ancient times. Kochi rose to sig-nificance as a trading centre after the port at Kodungallur (Cran-ganore) was destroyed by massive flooding of the river Periyar in 1341. The earliest documented references to Kochi occur in books written by Chinese voyager Ma Huan during his visit to Kochi in the 15th century as part of Admiral Zheng He’s treasure fleet. There are also references to Kochi in accounts written by Italian traveller Niccolò Da Conti, who visited Kochi in 1440.

According to many historians, the kingdom of Kochi came into existence in 1102, after the fall of the Kulasekhara empire.The King of Kochi had authority over the region encompassing the present city of Kochi and adjoining areas. The reign was hered-itary, and the family that ruled over Kochi was known as the Kochi Royal Family (Perumpadappu Swaroopam in the local ver-nacular). The mainland Kochi remained the capital of the princely state since the 18th century. However, during much of this time, the kingdom was under foreign rule, and the king often only had titular privileges.

Fort Kochi in Kochi was the first European colonial settlement in India. From 1503 to 1663, Fort Kochi was ruled by Portugal. This Portuguese period was a harrowing time for the Jews living in the region, as inquisition was active in Portuguese India. Kochi hosted the grave of Vasco da Gama, the first European explorer to set sail for India, who was buried at St. Francis Church until his remains were returned to Portugal in 1539. The Portuguese rule was followed by that of the Dutch, who had allied with the Zamorins to conquer Kochi. By 1773, the Mysore King Hyder Ali extended his conquest in the Malabar region to Kochi forcing it to become a tributary of Mysore. The hereditary Prime Ministership of Kochi held by the Paliath Achans ended during this period.

Meanwhile, the Dutch, fearing an outbreak of war on the United Provinces signed the Anglo-Dutch Treaty of 1814 with the United Kingdom, under which Kochi was ceded to the United Kingdom in exchange for the island of Bangka. However, there are evi-dences of English habitation in the region even before the sign-

Corporation of Kochi is the municipal corporation that manages the city of Kochi (formerly known as Cochin). The corporation is headed by a Mayor. The city is divided into 70 administrative wards, from which the members of the corporation council are elected for a period of five years. The corporation has its central office situated in Ernakulam and has zonal offices at Fort Kochi, Mattancherry, Palluruthy, Edappally, Vaduthala and Vyttila.

For the purpose of administration, the corporation is divided into different departments, each catering to a different aspect of the city’s development and welfare. The Personnel Department takes care of the general administration of the city. The various departments include that of Town Planning, Health, Engineering, Revenue, Accounts and the Council Section. The corporation has a Janaseva Kendram (meaning centre for people’s service), that addresses the issues of the public.

The Greater Kochi Development Authority (GCDA) is the plan-ning and development authority of the metropolitan area of Kochi, which is the urban hinterland of Kochi port. The jurisdic-tional area of GCDA comprises of the Kochi City, the commercial capital of Kerala, 6 surrounding municipalities and 25 intervening panchayats covering an area of 632 sq.km.

To guide urban development by checking urban sprawl and •promoting healthy growth of urban and rural areas through long term, short term and action area oriented detailed de-velopment plans

To coordinate the activities of different developmental agen-•cies including government departments operating in the area

To take up model schemes and projects in different sectors •of development

To monitor and implement the plans and proposals through •public participation, timely revision and by prioritising pro-posals

GCDA helps the other developmental agencies, both private and public in directing investments; takes up comprehensive sector wise studies, identifies growth centers; creates basic infrastruc-ture including developable land through setting up land bank and takes up private public partnership projects. GCDA also takes up consultancy works in planning and engineering fields, and undertakes studies in urban related projects.

ing of the treaty. In 1866, Fort Kochi became a municipality, and its first Municipal Council election was conducted in 1883. The Maharaja of Kochi, who ruled under the British, in 1896, initiated local administration by forming town councils in Mattancherry and Ernakulam. In 1925, Kochi legislative assembly was consti-tuted due to public pressure on the state.

Towards the early 20th century, trade at the port had increased substantially, and the need to develop the port was greatly felt. Harbour engineer Robert Bristow was brought to Kochi in 1920 under the direction of Lord Willingdon, then the Governor of Ma-dras. In a span of 21 years, he transformed Kochi as one of the safest harbours in the peninsula, where ships berthed alongside the newly reclaimed inner harbour equipped with a long array of steam cranes.

In 1947, when India gained independence from the British co-lonial rule, Kochi was the first princely state to join the Indian Union willingly. In 1949, Travancore-Kochi state came into being with the merger of Kochi and Travancore. The King of Travan-core was the Rajpramukh of the Travancore-Kochi Union from 1949 to 1956. Travancore-Kochi, was in turn merged with the Malabar district of the Madras State. Finally, the Government of India’s States Reorganisation Act (1956) inaugurated a new state-Kerala, incorporating Travancore-Kochi (excluding the four southern Taluks which were merged with Tamil Nadu), Mala-bar District, and the taluk of Kasargod, South Kanara. On July 09, 1960, the Mattancherry council passed a resolution,which was forwarded to the government, requesting the formation of a municipal corporation by combining the existing municipalities of Fort Kochi, Mattancherry, and Ernakulam. The government ap-pointed a commission to study the feasibility of the suggested merger. Based on its report, the Kerala Legislative Assembly ap-proved the corporation’s formation. On November 01, 1967, ex-actly eleven years since the establishment of the state of Kerala, the corporation of Kochi came into existence. The merger lead-ing to the establishment of the corporation, was between the municipalities of Ernakulam, Mattancherry and Fort Kochi, along with that of the Willingdon Island, four panchayats (Palluruthy, Vennala, Vyttila and Edappally), and the small islands of Gundu and Ramanthuruth.

The CiTy FACT File AdMinisTrATive FrAMewOrK AiMs And ObjeCTives OF GCdA

GreATer KOChi develOpMenT AuThOriTy (GCdA)

The city continues to grow horizontally towards the east •covering the suburbs of Kakkanad, Kalamassery, Aluva, Paravur, Nedumbassery and Perumbavur.

Commercial activity is gradually moving away from the •Central Business District (CBD) towards Edapally and Ka-davanthra. Edapally is developing into a mall corridor with a series of malls being developed along the strip of the Na-tional Highway 47 (NH 47) bypass junction. Once com-pleted, the malls are expected to change the dynamics of organised retail in the region.

On the flip side, the real estate market in Kochi is largely •investor driven, primarily banking on the NRI’s working in the Middle East and the Western nations.

The property prices in Kochi had shot up in the past few •years anticipating a boom in the IT/ITES sector. However there has been little progress on the proposed mega projects leading to an oversupply situation in certain micro-markets. This has further been compounded by the economic slow-down leading to a dip in the number of transactions during the last twelve to eighteen months.

A revival of the global market scenario and the moderation •of property prices in the Kochi market is expected to help revive the market scenario.

reAl esTATe perspeCTive MAjOr lOCATiOns wiThin KOChiKochi, formerly known as Cochin, is the commercial capital •

of Kerala and has been a centre for trade and commerce due to its strategic location.

Tourism has been a traditional driver of the Kochi economy. •The natural scenic beauty and the coastal backwaters have made it one of India’s top tourist destinations. Marketing campaigns like ‘Incredible India’ and ‘God’s Own Country’ have further helped marketing Kochi as a key tourist des-tination.

The city has various Public Sector Undertakings such as •Kochi Refineries Ltd, International Pepper Exchange, Fer-tilizers and Chemicals-Travancore. It also houses various companies such as Hindustan Machine Tools , Hindustan Insecticides, Forest Industries of Travancore, Indian Alu-minium Company, Travancore Kochi Chemicals, Kerala Agro Machinery Corporation etc.

The economy of the city also depends on trade and retail ac-•tivities. Major business areas include gold and textile, sea food and spices export. The gradually developing services industry is also playing a key role in the changing dynamics of the city.

As in most parts of Kerala, remittance from abroad by Non •Resident Indians (NRI’s) is a major source of income.

KOChi CiTy Overview

Note:Map not to scale and is for illustration purposes only.

S. No.

Name Of Developer Location Type Of SEZ Area In Hectares

1. Infopark Kakkanad, Ernakulam IT/ITES 30.768

2. Kerala Industrial Infrastructure Development Corporation(KINFRA)

Kochi, Kerala Electronics Industries 12.141

3. Cochin Port Trust Puthuvypeen Port Based 285.84

4. Cochin Port Trust Vallarpadom,Fort Kochi Village, Ernakulam Port Based 115.25

5. TCG Urban Infrastructure Hold-ings Ltd

Thrikkakara North Village , Kanayannur Taluk, Ernakulam

Biotechnology 12.141

lisT OF seZs updATed As On OCTOber 2009

seZ ClAssiFiCATiOn As per usAGe

87%

7%

3%3%

IT/ITES

PORT BASED

BIOTECHNOLOGY

ELECTRONICS INDUSTRIES

Port based SEZs at Puthuvypeen and Vallarpadom are expected to change the dynamics of port related activities in India. The International Container Transshipment Terminal (ICTT) at Vallarpadom will be the largest single operator container terminal planned in India and the first in the country to operate in a SEZ.

Source: Ministry of Commerce & Industry,Dept. of Commerce

widening of nh-17• : The Edapally-Muthakunnam stretch of NH-17 will be widened into a four-lane road (30 meters wide). The road is being developed by the National High-way Authority of India (NHAI) and would be operated on a BOT basis. The 25 km Edapally-Muthakunnam stretch of NH-17 passes through thickly populated areas in Ernakulam district like Cheranaloor, Koonammavu, Cheriapilly, North Paravur and Chittatukara.

Aerotropolis/Airport City• : Cochin International Airport Ltd (CIAL) is planning to develop an aerotropolis through a Special Purpose Vehicle (SPV) called Kochi Aerotropolis Projects Ltd. The plan proposes to develop an entire satel-lite hub comprising houses, offices, factories, hotels, leisure etc. The proposed project spanning 450-acres will serve the airport and vice versa.

Mobility hub/Transport Terminal hub at vytilla• : The State government is considering a city mobility project that has been prepared with Vytilla as the hub. The project aims at solving a good share of commuting problems in the city by creating amenities in and around the Vytilla Junction, by in-tegrating different modes of transport like roadways, metro rail, railways and waterways.

The Agriculture Department and Kerafed own 25 acres of land near the junction and this is ideal to host the mobility hub where long-distance buses and KSRTC services can be based. There would be space to park 220 buses, 900 cars and 120 auto rickshaws. A shopping mall, food courts, cultural centre, hotel, swimming pool, waterfront and boat jetty too can be set up.

From Vytilla, public transport systems can provide connec-tivity with the western and eastern parts of the city, West Kochi, and also regional hubs like Vypeen, Palarivattom, Kakkanad, Thripunithura and Aroor. Vytilla is also well con-nected with National Highways 47, 17 and 49, the seaport and the airport. The proposed metro rail passes through the junction and National Waterway III is located close by. By basing operations in Vytilla, the KSRTC and private buses would be able to save huge amounts on fuel, apart from the time saved in not entering the city. Thus, the Vytilla mobility hub has evolved as a natural remedy and is envisioned as a long-term solution to Kochi’s transportation problems.

lnG Terminal, Kochi• : A LNG terminal is being implemented by Petronet LNG Ltd, New Delhi at Puthuvypeen, Kochi. The project is for the supply of regasified natural gas to various industries and power plants in the state. The terminal will be operational by the year 2012. The estimated cost of the project is INR 4000 crore.

City Gas distribution project• : The city gas distribution project will be taken up by GAIL, BPCL and the Government of Kerala for supplying compressed natural gas for automo-bile and piped natural gas for domestic use. A Memoran-dum of Understanding (MOU) has been signed between BPCL & GAIL for forming a joint venture company. The es-timated cost of the project is INR 400 crore. The city gas distribution terminal shall be synchronised with the Kochi LNG Terminal.

electronics hub at Kochi• : Kerala State Industrial Develop-ment Corporation (KSIDC) has initiated steps for setting up an electronic Hub at Kochi. The proposed Electronic Hub would be developed in 500 acres of land, offering world class facilities for manufacturing, contract manufacturing, R&D and fabricating units in the electronic sector. The hub would house companies in the semiconductors and elec-tronic components sector, including their manufacture, re-search and development, design, etc. The land acquisition procedure has been initiated.

international Container Transshipment Terminal, Kochi• : The International Container Transshipment Terminal (ICTT), Kochi at Vallarpadam will be the largest single operator con-tainer terminal currently planned in India and the first in the country to operate in a Special Economic Zone (SEZ). The new terminal will make Kochi a key centre in the shipping world reducing India’s dependence on foreign ports to han-dle transshipment. The project is being funded by DP world, a subsidiary of the government of Dubai owned, ‘Dubai World’ through non-recourse debt funding. The first phase

of the INR 2118 crore ICTT will be commissioned by June 2010. At present 65% of the country’s container traffic is being transshipped through ports in neighbouring countries. Once the ICTT projects starts operations, the country’s im-port and export industry will gain INR 6,000-INR 12,000 in each container.

vallarpadam-edapally railway bridge• : The Indian railways has completed the construction of the longest rail bridge in its network, the 4.62 km Vallarpadam-Edapally Bridge. The bridge connects the proposed International Container Trans-shipment Terminal (ICTT) at Vallarpadam with Edapally, a 8.86 km rail-link.

Kochi Metro• : The Kerala Government is initiating the com-missioning processes for implementing Kochi Metro Rail on a Build-Operate-Transfer (BOT) basis. The Kochi Metro Rail Corporation has proposed a route spanning 25.253 km from Petta to Aluva, with 26 stations enroute. The alignment for the project was created by Delhi Metro Rail Corpora-tion (DMRC) and is planned to be made on a Public-Private Partnership (PPP) basis. The nodal agency for the project is KINFRA, Kochi. Kochi Metro Rail Corporation will operate the project. The DMRC has also submitted a proposal for the metro rail project to be extended till the Kochi Interna-tional Airport ,at Nedumbassery.

widening of roads• : The proposed metro rail project would require widening of roads along certain corridors to facilitate smooth vehicular traffic. Some of the arterial roads are:

Banerjee Road and North road overbridge would have •to widened into four-lanes.

The approach road to Ernakulam Junction station and •the Salim Rajan Road too would be widened.

MG Road, the SA Road and the Vytilla-Thripunithura •road would be widened to four-lanes.

inFrAsTruCTure/indusTriAl develOpMenT

SuppLy Of RESIDENTIAL uNITS COmINg upby THE JuNE 2012

DISTRIbuTION Of RESIDENTIAL SuppLy IN KOCHI (NO. Of uNITS)

Kochi would experience an influx of over 24 million of residential space by the June 2012, with approx. two-third of the supply concentrated in North East Kochi.

The upcoming malls are expected to change the dynamics of organized retail in Kochi. A majority of the upcoming malls are located along North-East Kochi. Details of various malls are tabulated below:

Zone Apartment Type Average Size of a unit (in sq.ft.)

No. Of units

Total Area (in million

sq.ft.)

South East

1 BHK 530 6 0.003

2 BHK 1192 421 0.501

3 BHK 1638 1151 1.88

4 BHK 2384 112 0.267

Row Houses/Villas 2284 51 0.116

Total 1741 2.767

South West

1 BHK 750 4 0.003

2 BHK 1225 46 0.056

3 BHK 1802 788 1.42

4 BHK 2868 132 0.378

Total 970 1.857

North East

1 BHK 600 543 0.325

2 BHK 1150 3557 4.09

3 BHK 1600 6808 10.89

4 BHK 2130 122 0.259


Total 11,227 16.06

North West

1 BHK 575 66 0.038

2 BHK 1225 429 0.525

3 BHK 1695 1472 2.495

4 BHK 2400 128 0.307


Total 2205 3.609

Total supply expected by june 2012 16.143 24.293

Source : ICICI Property Services.The above represents some of the key developments and not the universe

Source : ICICI Property Services ResearchThe above represents some of the key developments and is not the universe

Source: ICICI Property ServicesThe above represents some of the key developments and not the universe

69%

14%11%

6%

NORTH WEST

NORTH EAST

SOUTH EAST

SOUTH WEST

S.No Name of the mall Location Zone Total Area in million sq.ft. (Approx)

Status(as on Jan 2010)

1. Abad Nucleus Maradu South East 0.125 Under Construction

2. Admiral Plaza Palarivattom North West 0.07 Under Construction

3. Aerens Gold Souk Mall Vytilla South East 0.45 Operational shortly

4. Bay Pride Mall Marine Drive, Kochi South West 0.042 Operational

5. DLF Mall Marine Drive South West N/A Proposed

6. Grand Mall Edapally North East 0.13 Under Construction

7. Heera Mall Edapally North East 0.372 Under Construction

8. Lulu Mall Edapally North East 2.0 Under Construction

9. Metro One Kaloor North West N/A Under Construction

10. Oberon Mall Edapally North East 0.35 Operational

11. Prestige Forum Mall Maradu South East 1.07 Under Construction

12. Q 1-Nippon Infra Projects NH-47 Bypass North East 0.12 Under Construction

13. Sobha Hi-tech CityMall Maradu South East N/A Proposed

14. Summit Mall M.G.Road, Kochi South West 0.45 Under Construction

OrGAnised reTAil develOpMenT

MAll spACe disTribuTiOn in KOChi

SOUTH EAST

AREA

IN M

ILLI

ON S

Q.FT

.

3.5

2.5

1.5

0.5

3

2

1

0SOUTH WEST

NORTHEAST

NORTHWEST

OPERATIONAL

UNDER CONSTRUCTION

SOuTH EAST KOCHI RESIDENTIAL mARKET IN SOuTH EAST KOCHI

DISTRIbuTION Of ApARTmENT TypE: SOuTH EAST KOCHI

Tripunithura is a prominent center for learning of classi-•cal arts and musical instruments. This belt houses certain prominent institutes such as RLV College of Music and In-stitute of Fine Arts. The center for learning, Kalamandalam is also present in Tripunithura.

The strip between the bye pass junction, Edapally and Aroor •is evolving into a major business hub with large retail for-mats, showrooms and hotels located in this belt. Outlets of Mercedes, Hyundai and Maruti etc. are located on this belt.

The proposed transport hub at Vytilla would help decon-•gest city traffic and aid in channelising transport services in Kochi. The proposed terminus is expected to bolster the real estate prospects in this region.

Panampily Nagar and Jawahar Nagar are well developed •residential layouts, which command a premium. The prices have remained fairly stable in this region during the last twelve months.

Maradu is witnessing large-scale developments with vari-•ous residential complexes and malls being developed in the region.

Major locations: Kadavanthra, Vytilla, Panampilly Nagar, Jawa-har Nagar, Vytilla-Edappally Bypass, Chilavannur, Tripunithura, Maradu

Average Apartment Size of 1 BHK in sq.ft. 530




Average Apartment Size of Row Houses/Villas 2284

Total Supply (in million sq.ft.) by June 2012 2.767

Total Supply (in no. of units) by June 2012 1741

2BHK 4BHK1BHK

67%

24%

6% 3%

Source : ICICI Property ServicesThe above represents some of the key developments and not the universe

Source : ICICI Property ServicesNote : The areas mentioned are super built up areas

3BHK

Name of the project Developer Approximate Capital Values (Rs./sq.ft.) as on

march 2010

No. of units Expected Date of Completion

Daffodil Gardens Abad Builders 2200 39 Completed

Heera Royale Heera Homes 2600 88 May-2010

Kings Court SRK Group 2200 96 December-2011

Kingdom SFS Homes 2650 70 December-2010

Plum Flower Mather Projects 3000 40 Completed

Palm Grove Kent Constructions 3100 96 December-2010

Santi Arthanat Santi Homes 2750 68 June-2012

Silverstone Desai Homes 1850 188 N/A

Location Average Rates (Rs./sq.ft.) Average Rentals for 2 bHK (Rs./month) market Outlook

Chilavannur 2750-3250 4000-6000 S

Jawahar Nagar 3500-4500 8000-10000 S

Kadavanthra 2500-3000 6000-8000 SS

Panampilly Nagar 3500-4500 8000-12000 S

Tripunithura 2300-2600 3000-5000 SS

Vytilla 2400-2800 5000-7000 SS

Source: ICICI Property Services*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building. Rates mentioned above are subject to change at any given point of time

Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)

Source: ICICI Property Services*Rates mentioned are based on Built-up area & are subject to amenities, upkeep and may vary from apartment to apartment within the same building.Rates mentioned above are subject to change at any given point of time

RESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of SOuTH EAST KOCHI

SOmE Of THE RESIDENTIAL pROJECTS IN SOuTH EAST KOCHI pROpERTy pRICE mOVEmENT INDEx: SOuTH EAST KOCHI (mARCH 2005-DECEmbER 2009)

COmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENT

The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison be-tween quarterly property price movements and changes in consumer price index for South East Kochi. Since zone wise inflation data is not available we have substituted the Kochi inflation figures for each zone.

As above graph indicates, the property prices in South East Kochi have been increasing more than proportionately than the consumer price index, and till recently, the trend seems to continue.

R- Rising F- Falling S- Stagnant SW- Stagnant but likely to weaken SS- Stagnant but likely to strengthen

Outlook Key

50

100

150

200

250

300

350

Mar05

Mar06

Mar07

Jun07

Sep07

Dec07

Mar08

Jun08

Sep08

Dec08

Mar09

Jun09

Sep09

Dec09

Mar10

South East ( Actual) South East ( R&L)

50

100

150

200

250

300

350

Mar 05 Mar 06 Mar 07 Jun 07 Sep 07 Dec 07 Mar 08 Jun 08 Sep 08 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10

Kadavanthra Vytila Panampilly NagarVytilla- Edapally Byepass Jawahar Nagar Chilavannur

This region forms the Central Business District (CBD), hous-•ing the traditional business areas like M.G Road, Market Road, T.D.Road, Broadway and Chitoor Road. The region has witnessed a lull of fresh supply in the recent past, due to a lack of quality space. This belt continues to command a premium.

Marine drive, built along the backwaters is a prominent •tourist attraction. It is an economically thriving area and has several shopping malls and commercial spaces. The ‘Walk-away’ is a hotspot for tourists and locals alike.

Projects of certain prominent developers are present along •the Marine Drive area commands the highest rate per sq.ft. An additional premium is charged for waterfront proper-ties.

SOuTH WEST KOCHI

RESIDENTIAL mARKET IN SOuTH WEST KOCHI

DISTRIbuTION Of ApARTmENT TypE: SOuTH WEST KOCHIMajor locations: M.G Road, Chitoor Road, Marine Drive, Ayya-

pankavu, Banerji Road, Thevara







81%

14%

5%

3BHK

4BHK

2BHK


Source : ICICI Property Services

Name of the project Developer Approximate Capital Values (Rs./sq.ft.)

as on march 2010


Bougan Villa Chakolas 5500 24 May-2010

East Thottekkat Asset Homes 5500 27 May-2010

Neptune Courtyard Prestige Group 5500 366 N/A

Purva Grandbay Puravanakara 4300 265 March-2011

Santi Sreyas Santi Homes 5500 16 December-2010

Santi Seaview Santi Homes 3500 30 December-2010

Source: ICICI Property Services*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.Rates mentioned above are subject to change at any given point of time


SOmE Of THE RESIDENTIAL pROJECTS IN SOuTH WEST KOCHI pROpERTy pRICE mOVEmENT INDEx: SOuTH WEST KOCHI (mARCH 2005-DECEmbER 2009)


Ayyappankavu 2250-2750 4000-6000 S

Banerji Road N/A N/A S

Chitoor Road N/A 10000-12000 S

Marine Road 5500-6500 15000-20000 S

M.G. Road N/A N/A S

Thevara 3000-4000 7000-10000 SS


RESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of SOuTH WEST KOCHICOmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENT

The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison be-tween quarterly property price movements and changes in consumer price index for South West Kochi. Since zone wise inflation data is not available we have substituted the Kochi inflation figures for each zone.

The residential prices in South West Kochi have increased at a pace double that of the real and logical price rise as is evident from the above chart.


Outlook Key

50

100

150

200

250

300

350


M G Road Chittoor Road Marine Drive Ayyappankavu Thevara

50

100

150

200

250

300

350

Mar05

Mar06

Mar07

Jun07

Sep07

Dec07

Mar08

Jun08

Sep08

Dec08

Mar09

Jun09

Sep09

Dec09

Mar10

South West(Actual) South West ( R&L)

NORTH EAST KOCHI RESIDENTIAL mARKET IN NORTH EAST KOCHI

DISTRIbuTION Of ApARTmENT TypE:NORTH EAST KOCHI

The bypass junction off Edapally is developing as a mall cor-•ridor, with various malls under construction in this belt. The Lulu Hypermarket, an INR 1200 crore venture, which hous-es a multiplex, hypermarket, hotel and an airlines tower is being built on an 18-acre plot off the Edapally junction. The project would have a total built-up area of approximately 2 million sq.ft.

Kalamassery has various industries manufacturing chemi-•cals and fertilizers, as well as IT Companies. Companies like Apollo Tyres and HMT factory are present in this region.

Kakkanad houses various government buildings including •the Civil Station, a district panchayat, the Kochi High Power Transmitter, Infopark, The Kochi Special Economic Zone (CSEZ) and the Airmen Selection Board.

Several major projects like the ‘Smart City’ and ‘Fashion •City’ are proposed in this region. This has led to various builders venturing into the Kakkanad belt. However Kak-kanad today is witnessing an oversupply situation, with a moderation of property prices witnessed in the last twelve months.

The campuses of The Cochin University of Science and • Tec- hnology and the Model Engineering College are located at Thrikkakara.

Major locations: Edapally, Kalamassery, Chembumukku, Va-zhakkala, Kakkanad, Vennalla







Total Supply (in no. of units) by June 2012 11,227

3BHK 4BHK

ROW HOUSES/VILLAS

2BHK1BHK

32%

60%

1% 2% 5%




march 2010


Berry Woods Mather Projects 2650 172 March-2012

Confident Auriga III Confident Group 2100 408 December-2011

Eternia SFS Homes 3500 86 Completed

Galaxy Greens Galaxy Homes 2500 120 N/A

Green Metropolis MIR Realtors 2500-4000 380 June-2011

Ivy League Skyline Builders 2590 416 N/A

Nagarjuna Laurel Nagarjuna Constructions 2400 104 June-2010

New Town Heights DLF Homes 2500 1600 December-2011 onwards

Orchid Meadows Manjooran Housing 2750 108 N/A

Purva Eternity Puravanakara 2290 600 June-2010

RDS Rhythm RDS Projects 2700 48 N/A

Orchid Meadows Manjooran Housing 2750 108 N/A


Chembumukku 2250-2500 N/A S

Edapally 2750-3250 6000-10000 SS

Kakkanad 2200-2700 6000-8000 SW

Kalamassery 2000-2300 3000-5000 SW

Vazhakkala 2250-2500 6000-8000 SW

Venalla 2300-2600 4000-6000 S



The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property price movements and changes in consumer price index for North East Kochi. Since zone wise inflation data is not available we have substituted the Kochi inflation figures for each zone.

As observed from the graph, the belt witnessed a steep hike in property prices during the past years, however the last few quarters have witnessed a modera-tion in property prices. The prices continue to remain higher compared to the real and logical prices.


SOmE Of THE RESIDENTIAL pROJECTS IN NORTH EAST KOCHI pROpERTy pRICE mOVEmENT INDEx: NORTH EAST KOCHI (mARCH 2005-DECEmbER 2009)

COmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENT

RESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of NORTH EAST KOCHI


Outlook Key

50

100

150

200

250

300

350


Edapally Kakkanad Kalamassery Vazhakkala

50

100

150

200

250

300

350

Mar

05

Mar

06

Mar

07

Jun

07

Sep

07

Dec

07

Mar

08

Jun

08

Sep

08

Dec

08

Mar

09

Jun

09

Sep

09

Dec

09

Mar

10

North East(Actual) North East ( R&L)

NORTH WEST RESIDENTIAL mARKET IN NORTH WEST KOCHI

DISTRIbuTION Of ApARTmENT TypE: NORTH WEST KOCHI

This region houses the famous Jawaharlal Nehru Interna-•tional stadium at Kaloor.

Areas like Kaloor and Palarivattom, with their proximity to •the CBD, presence of relatively developed residential facili-ties and proposed organized retail developments have pro-pelled the real estate market scenario over the years.

Aluva, which forms a part of the Kochi Metropolitan area •is one of the industrialised towns. It forms a transit point for four towns-Angamaly, Kalamassery, North Paravur and Perumbavoor. Its proximity to the Kochi International Airport at Nedumbassery and excellent connectivity to the CBD/industrial areas have driven real estate development in this region during the past few years.

Major locations: Kaloor, Elamakkara, Palarivattom, Pottakuzhi, Kathirikadavu, Aluva.








67%

6%5% 3%

19%

3BHK 4BHK

ROW HOUSES/VILLAS

2BHK1BHK




march 2010


Aqua Breez Abad Builders 2700 72 June-2011

Aqua Greens SFS Homes 2450 143 May-2010

Imperial Gardens Skyline Builders 3500 302 December-2011

Oxford Symphony Kishore Kumar Gokuldas 2550 48 N/A

PVS Iris PVS Apartments 2100 74 N/A

Serenade Mather Projects 3500 20 September-2010

Woodstock Olive Builders 3800 112 N/A


Aluva 2000-2500 5000-7000 SS

Elamakkara 2400-2700 4000-6000 S

Kaloor 3000-3500 6000-10000 SS

Kathitrikadavu 2500-3000 7000-9000 S

Palarivattom 3000-3500 6000-10000 SS



The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property price movements and changes in consumer price index for North West Kochi. Since zone wise inflation data is not available we have substituted the Kochi inflation figures for each zone.

The residential prices in North West Kochi have increased at a pace double that of the real and logical price rise, as is evident from the above chart.


SOmE Of THE RESIDENTIAL pROJECTS IN NORTH WEST KOCHI pROpERTy pRICE mOVEmENT INDEx: NORTH WEST KOCHI (mARCH 2005-DECEmbER 2009)

COmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENTRESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of NORTH WEST KOCHI

R- Rising F-Falling S- Stagnant SW- Stagnant but likely to weaken SS- Stagnant but likely to strengthen

Outlook Key

50

100

150

200

250

300

350


Kaloor Elamakkara PalarivattomPottakuzhi Kathirikadavu

50

100

150

200

250

300

350

Mar

05

Mar

06

Mar

07

Jun

07

Sep

07

Dec

07

Mar

08

Jun

08

Sep

08

Dec

08

Mar

09

Jun

09

Sep

09

Dec

09

Mar

10

North West(Actual) North West(R&L)

LOCATION ATTRACTIVENESS INDEx

KEy TO THE LOCATION ATTRACTIVENESS INDEx:

We have short-listed eight prime locations within Kochi and critically examined them on various parameters like infrastructure, residen-tial costs in the region, future employment prospects, etc. as detailed in the matrix below. Vytilla and Maradu seems to be scoring well over other locations due to reasonable residential costs in addition to good infrastructure, proximity to commercial and retail establish-ments and future infrastructure development. Aluva is also developing as a good alternative destination for value buyers, who wish to remain connected with the city centre.

M.G RoadMarine Drive

Vytilla Maradu Kakkanad Edapally Kaloor Aluva

Infrastructure (connectivity,

roads, proximity to markets, schools)

Residential Cost

Proximity to/Pres-ence of Organised

Retail

Future Infrastruc-ture Development

Future Employment Generation

Good/Low Cost

Above Average

Average/Medium Cost

Below Average

Bad/High Cost

ICICI Property Services is a division of ICICI Home Finance Company Limited, a 100% subsidiary of ICICI Bank. ICICI PSG provides real estate solutions to home seekers, corporate investors, space occupiers and developers/landlords. ICICI Property Services addresses the entire bandwidth of a real estate deal from concept to conclusion. Research & Consultancy (R&C), a specialised group within ICICI PSG, offers both real estate advisory and consumer demographic analysis backed by both primary & secondary research. The following chart explains in brief the various services offered by R&C.

RESEARCH AND CONSuLTANCy

This document is being communicated to you solely for the purposes of providing our views on current market trends. This document is being communicated to you on a confidential basis and does not carry any right of publication or disclosure to any third party. By accepting delivery of this document each recipient undertakes not to reproduce or distribute this presentation in whole or in part, nor to disclose any of its contents (except to its professional advisers) without the prior written consent of ICICI HFC Ltd., who the recipient agrees has the benefit of this undertaking. The recipient and its professional advis-ers will keep permanently confidential information contained herein and not already in the public domain. This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any rights or obliga-tions. Nothing in this document is intended to constitute legal, tax, se-curities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. The use of any information set out in this document is entirely at the recipient’s own risk. The information set out in this document has been prepared by ICICI HFC Ltd. based upon projections which have been determined in good

DISCLAImERfaith by ICICI HFC Ltd. There can be no assurance that such projections will prove to be accurate. ICICI HFC Ltd. does not accept any responsi-bility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by anyone in reliance on anything set out in this document. The information in this document reflects prevailing conditions and our views as of this date, all of which are subject to change. In preparing this document we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance. No reliance may be placed for any purpose whatsoever on the informa-tion contained in this document or on its completeness. The information set out herein may be subject to updating, completion, revision, verifi-cation and amendment and such information may change materially.

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Location Analysis

Market Analysis

Size, Pricing, Phasing and Posi-tioning (Space Programming & Demarcation for Optimum Utilisa-tion of space)

Financial Analysis

Optimum Land Use Analysis

Site Analysis & SWOT

Catchment Analysis

Trande & Tenant Mix

Land Valuation

Supply Estimation

Demand Projections

Expected Absorption Trends

Demographic Analysis

Consumer Trends

Consumer Behaviour Analysis

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City and Region Prioritisation and Expansion Strategy

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