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.

Joint family, a thing of the past in Kerala is coming up in the new form of a new concept called Community living. There was a time when members of a family lived together sharing all their feelings may it be happiness, agonies, difficulties, enjoyments whatever. It was really a well knit family concept. It gave all the security and comforts of a family in the real sense. But as the time progressed, with the fast paced life, people distanced from this true family atmosphere. Small families of father, mother and their children emerged. With it, the problems of selfishness, lack of trust, affection among the family members etc came up. Now, people really understand the advantages of Joint families. They find solace and happiness in Community living.

Coming and living together of close friends or family members who share a common idea or a life style is the main essence of Community living. This is real need of the hour at a time when the construction cost finds its maximum and the feeling of Selfishness and mistrust rule the society. This concept is more viable when people find their abode in Apartments. It will be so cost effective and secured once people start living in one Apartment in harmony. The headache of finding the proper land and other hassles can be minimized by this. Though every body shares a common building, each family can do their interiors according to their taste and preferences. Even, there is no need of particular security here as all the families take care of every other family’s security concerns. They can find time off their work and stay together at regular intervals on Holidays. The other thing that is particular about this living style is that people don’t feel secluded or alone in their life. A feeling of somebody all the time at their doorstep for help or talk make them feel happy and contented. Even builders like Asset Homes have come up with a  concept called CRG ( Close Relation group ) Homes. They say that homes are built in relationships. They have already come up with a few Apartments  of this sort.

If adjustments and sharing can be enjoyed, people can think of starting a community living with their family members and friends. At the same time, they can bring back the old nostalgic memories and virtues of Joint family culture.