The Kannur real estate construction scene has been evolving over the last 3 to 4 years. While land prices have shot up like the rest of the market apartments have made a slow entry into the hiherto unknown territory. With its the strong NRI base, Cannanore would not have missed the radar. No doubt the recession has had an impact as builders report sales have been far and few. There are prominent builders like Oceanus and Malabar builders who have multiple projects in various stages of completion. However it is some of the smaller players who are more focussed. There seems to be a preference for villas over apartments as we see developers like Squarefeet builders launching a villa cum residential project in Chala, not far from the city centre. While rates for apartments have come down to around Rs.1500 to Rs.1800 per sq ft, villas come at around Rs.2000 plus per sq ft. Apartments in Kannur. Villas in Kannur