Kerala   

Waterfront living – A life in the lap of Nature

Kochi is a place where one can see several trends taking place at a fast pace, especially in the segment concerning housing. And when it comes to a dwelling along the waterfront, the city is moving in the lap of luxury. However, with spiraling land prices and availability of land with a waterfront becoming even scarcer, the builders are finding it difficult to come up with more waterfront projects to meet the customer aspirations. Both apartments and villas on serene water front locations in the close vicinity of the city are in great demand. And owning one in Kochi, the state’s commercial hub, has turned out to be the latest fad among the rich and famous in Kerala. Today, the waterfront villas have become so very popular that the builders are increasingly coming up with more such projects.

With the demand increasing by the day, most of the waterfront projects are offering world-class design, superior structure and great elevation along with a host of luxury amenities. Carefully chosen locations are undoubtedly one of the most common characteristic features of all waterfront projects. Kochi, which boasts of an expansive water frontage in and around the city, the concept of waterfront has caught the attention of the builders in a big way. And customers are showing an unrestrained interest in waterfront apartments and villas. The market is in such a good form that properties with good waterfront are getting sold even without aggressive marketing. "Today, people consider buying such dwellings as a safe and most lucrative investment. Liquidity of a waterfront apartment will never be a difficult proposition", observed Rajeevkumar Cheruvara of Apple a day Properties.

In spite of the fact that living in a waterfront property imparts a feeling of being close to nature, of late, it has also turned out to be status symbol for many. As a result of which, living in flats with a water frontage is becoming very fashionable these days. Fortunately, Kochi is said to be the hub of all major construction activities in Kerala and interestingly it has an extensive waterfront advantage too. Be it Marine Drive, Thevara, Aluva or Kadavanthra, several of Kochi prime locations are along the waterfront. And Kochi’s extensive waterfront advantage is wooing too many big builders to the city. The reason being that Kochi is the only major city in Kerala crisscrossed with backwaters, lakes and lagoons. And the builders will not have to work too hard to locate serene waterfront locations in the close vicinity of the city.

Today the segment of waterfront villas and apartments are so popular in the real estate scenario that the builders are increasingly coming up with projects that carry with it, a tempting waterfront tag. In short, it’s the latest chip on the block.

Today, villas and apartments that face the backwaters have turned out to be an area where both the seller and buyer are getting equally enthusiastic. And with the construction sector in the state in general and especially that of Kochi in particular registering a phenomenal growth, the builders are making a beeline for locations that are facing the backwaters. And undoubtedly the waterfront locations are in high demand and are having a total sell out. Another major contributing factor for the rising demand for waterfront dwellings is because the business community is increasingly moving into places that offer best of both worlds. With Malayalis becoming more and more conscious about their lifestyle both villas and apartment along the waterfront are commanding a premium. Over the years the attitude of customers towards owning a property also has changed for the better. Says L Gopakumar of Integrated Housing Development Corporation (IHDC), "Today’s customer is sure of his priorities and this aspect reflects in his decisions. Waterfront locations are very limited and particularly for that reason not many can have the privilege of living along the geographically blessed waterfronts". IHDC has a highly advantages upcoming waterfront project at Aluva. "And most of those who have booked an apartment in ’Great Waters’ are not NRIs but those living in Kerala", smiles he. The ’Great Waters’ is located overlooking the River Periyar on one side and the National Highway on the other.

The Tripunithura based Souparnika Group is also into the waterfront league in a big way and they have two projects on the same lines, one at Aluva and the other at Udayamperoor close to Tripunithura. The property at Aluva is located at Desom facing the River Periyar and is titled ’Periyar Theeram’ with 52 units. The one at Udayamperoor is a villa project spread over an area of 4 acres christened ’Puzhayoram’ with 54 independent villas. Yet another reason behind the growing popularity of waterfront projects is that Kochi, of late, has turned out to be favourite destination of the corporate world in the country and many renowned companies are buying waterfront villas and apartments to maintain them as their holiday homes. The boom in the tourism industry has also propagandized the value of having a place with a water frontage. The demand for waterfront villas and apartments are equally from both the NRIs and locals. With the real estate industry all poised for a major haul in the state, the people in the industry are making a beeline for the land that has waterfront. It is true that, in recent years the confidence level of those investing in real estate has gone significantly. And those who have a penchant for an elegant living are always on the lookout for waterfront dwellings. With the real estate market registering a marked progress, despite all the statutory regimentations, both the low and high-end customers are looking at things in a most refined manner.

SUNIL

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