Real estate trends had gotten highly opinionated and PR driven with no one laying facts to back their views. NHB Residex is perhaps the first attempt to scientifically base property trends and Kochi has been included as one of the 13 cities covered. National housing bank at the behest of Ministry of finance takes only actual transaction price to reach the index price. For Kochi 2007 was taken as the base price and the trends are being evaluated on a half-yearly basis.

Though the Jan-july 2009 reports are still awaited the earlier report gives some insights into locations and may help arrive at where to invest. As per the report the Mattanchery zone has shown the overall highest positive return with an 8% growth from 2007. However, the prices indicated in this territory has been volatile.  The Central zone comprising of  Fort Kochi Vili, Karugapalli,Venella, Mammankalam have shown highest stability and a reasonable appreciation. Prices have come down by around 5% in these areas. Elamakkara, North,,Podukalavattom have depreciated by around 6% from 2007 levels. Panampilly Nagar, Maradu, Thevara are the other premium destinations owing to proximity of the city and her the rates have come down by around 8% vis a vis 2007 rates. However rates in these areas have recovered from their early 2008 lows. There is no mention on Kakkanad which we suspect was the worst hit in the crash. Prices are down by around 205 from their 2007 highs. The over supply situation continues in this zone. The Vytilla zone has seen a marginal depreciation of 10% from their early 2008 highs.  However when compared to 2007 prices the decrease is only marginal. While too much cannot be read to the NHB Residex at this point we believe that as the number of data points increase over a period one would be able to do some meaningful interpretations and this would come to the aid of investors.

For those looking at opportunities here is a snapshot on asking prices we have gathered  in some of the areas.

Panampilly Nagar     Rs2750 - 3300
Kadavanthara            Rs.2600 - 3000
Thevara                        Rs.3500 - 4500
Chilavannoor             Rs.3000 – 3500

Kaloor                           Rs. 2800 - 3000
Palarivattom              Rs. 2600 - 3000
Edappally                     Rs.2800 - 3400
Vyttila                           Rs.2600 - 3200
Kakkanad                      Rs.2500 -2800
Marine Drive              Rs.6500 - 8000
Aluva                              Rs.2000 – 2600

These are just indicative rates. Primarily the rates depends on location, accessibility, builder, facilities etc. So go drive a bargain.