KOChi

THE LAKE OF THE

lAGOOn
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 City Fact File
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-
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.
AdministratIve Framework Aims and Objectives of GCDA
Corporation of Kochi is the municipal corporation that manages
• To guide urban development by checking urban sprawl and
the city of Kochi (formerly known as Cochin). The corporation
promoting healthy growth of urban and rural areas through
is headed by a Mayor. The city is divided into 70 administrative
long term, short term and action area oriented detailed de-
wards, from which the members of the corporation council are
velopment plans
elected for a period of five years. The corporation has its central
office situated in Ernakulam and has zonal offices at Fort Kochi,
• To coordinate the activities of different developmental agen-
Mattancherry, Palluruthy, Edappally, Vaduthala and Vyttila.
cies including government departments operating in the
area
For the purpose of administration, the corporation is divided
into different departments, each catering to a different aspect of
• To take up model schemes and projects in different sectors
the city’s development and welfare. The Personnel Department
of development
takes care of the general administration of the city. The various
departments include that of Town Planning, Health, Engineering,
• To monitor and implement the plans and proposals through
Revenue, Accounts and the Council Section. The corporation has
public participation, timely revision and by prioritising pro-
a Janaseva Kendram (meaning centre for people’s service), that
posals
addresses the issues of the public.
Greater Kochi Development GCDA helps the other developmental agencies, both private and
public in directing investments; takes up comprehensive sector
Authority (GCDA) wise studies, identifies growth centers; creates basic infrastruc-
ture including developable land through setting up land bank and
The Greater Kochi Development Authority (GCDA) is the plan- takes up private public partnership projects. GCDA also takes
ning and development authority of the metropolitan area of up consultancy works in planning and engineering fields, and
Kochi, which is the urban hinterland of Kochi port. The jurisdic- undertakes studies in urban related projects.
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.
Kochi City Overview
• Kochi, 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.
Real Estate Perspective Major Locations
• The city continues to grow horizontally towards the east within Kochi
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.
Note:Map not to scale and is for illustration purposes only.
List of SEZs updated as on October 2009
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.

S. Name Of Developer Location Type Of SEZ Area In

No. Hectares
1. Infopark Kakkanad, Ernakulam IT/ITES 30.768
2. Kerala Industrial Infrastructure Kochi, Kerala Electronics Industries 12.141
Development Corporation
(KINFRA)
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- Thrikkakara North Village , Kanayannur Taluk, Biotechnology 12.141
ings Ltd Ernakulam

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

SEZ CLASSIFICATION AS PER USAGE

3% 3%

7%

87%
PORT BASED
IT/ITES
BIOTECHNOLOGY
ELECTRONICS INDUSTRIES
Infrastructure/Industrial
Development
• 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.
• Widening of NH-17: The Edapally-Muthakunnam stretch From Vytilla, public transport systems can provide connec-
of NH-17 will be widened into a four-lane road (30 meters tivity with the western and eastern parts of the city, West
wide). The road is being developed by the National High- Kochi, and also regional hubs like Vypeen, Palarivattom,
way Authority of India (NHAI) and would be operated on Kakkanad, Thripunithura and Aroor. Vytilla is also well con-
a BOT basis. The 25 km Edapally-Muthakunnam stretch of nected with National Highways 47, 17 and 49, the seaport
NH-17 passes through thickly populated areas in Ernakulam and the airport. The proposed metro rail passes through the
district like Cheranaloor, Koonammavu, Cheriapilly, North junction and National Waterway III is located close by. By
Paravur and Chittatukara. basing operations in Vytilla, the KSRTC and private buses
would be able to save huge amounts on fuel, apart from the
• Aerotropolis/Airport City: Cochin International Airport time saved in not entering the city. Thus, the Vytilla mobility
Ltd (CIAL) is planning to develop an aerotropolis through hub has evolved as a natural remedy and is envisioned as a
a Special Purpose Vehicle (SPV) called Kochi Aerotropolis long-term solution to Kochi’s transportation problems.
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.
 Organised Retail Development Supply of Residential Units Coming up DISTRIBUTION OF Residential SUPPLY
The upcoming malls are expected to change the dynamics of organized retail in Kochi. A majority of the upcoming malls are located by the June 2012 IN KOCHI (NO. OF UNITS)
along North-East Kochi. Details of various malls are tabulated below: Kochi would experience an influx of over 24 million of residential
space by the June 2012, with approx. two-third of the supply
S.No Name of the Mall Location Zone Total Area in million Status concentrated in North East Kochi.
sq.ft. (Approx) (as on Jan 2010) Zone Apartment Type Average No. Of Total Area
1. Abad Nucleus Maradu South East 0.125 Under Construction Size of a Units (in million
11%
2. Admiral Plaza Palarivattom North West 0.07 Under Construction unit (in sq.ft.) 14%
3. Aerens Gold Souk Mall Vytilla South East 0.45 Operational shortly sq.ft.)

4. Bay Pride Mall Marine Drive, Kochi South West 0.042 Operational 1 BHK 530 6 0.003 6%
South 2 BHK 1192 421 0.501
5. DLF Mall Marine Drive South West N/A Proposed
East
6. Grand Mall Edapally North East 0.13 Under Construction 3 BHK 1638 1151 1.88
7. Heera Mall Edapally North East 0.372 Under Construction 4 BHK 2384 112 0.267
8. Lulu Mall Edapally North East 2.0 Under Construction Row Houses/Villas 2284 51 0.116
9. Metro One Kaloor North West N/A Under Construction Total 1741 2.767
10. Oberon Mall Edapally North East 0.35 Operational South 1 BHK 750 4 0.003
West 2 BHK 1225 46 0.056
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 3 BHK 1802 788 1.42
13. Sobha Hi-tech CityMall Maradu South East N/A Proposed 4 BHK 2868 132 0.378
14. Summit Mall M.G.Road, Kochi South West 0.45 Under Construction Total 970 1.857
North 1 BHK 600 543 0.325 69%
Source : ICICI Property Services Research East 2 BHK 1150 3557 4.09
The above represents some of the key developments and is not the universe
3 BHK 1600 6808 10.89
Mall Space Distribution in Kochi 4 BHK 2130 122 0.259
3.5 SOUTH EAST
Row Houses/Villas 2555 197 0.503
3 SOUTH WEST
Total 11,227 16.06
AREA IN MILLION SQ.FT.

2.5 North 1 BHK 575 66 0.038 NORTH EAST

West 2 BHK 1225 429 0.525 NORTH WEST
2
1.5 3 BHK 1695 1472 2.495
4 BHK 2400 128 0.307
1 UNDER CONSTRUCTION
Row Houses/Villas 2220 110 0.244
0.5 OPeRaTIONAl
Total 2205 3.609 Source: ICICI Property Services
0 Total Supply expected by June 2012 16.143 24.293 The above represents some of the key developments and not the universe
SOUTH SOUTH NORTH NORTH
EAST WEST EAST WEST Source : ICICI Property Services.
The above represents some of the key developments and not the universe
South East Kochi Residential Market in South East Kochi
Major Locations: Kadavanthra, Vytilla, Panampilly Nagar, Jawa-
Average Apartment Size of 1 BHK in sq.ft. 530
har Nagar, Vytilla-Edappally Bypass, Chilavannur, Tripunithura,
Maradu Average Apartment Size of 2 BHK in sq.ft. 1192
Average Apartment Size of 3 BHK in sq.ft. 1638
• Tripunithura is a prominent center for learning of classi-
Average Apartment Size of 4 BHK in sq.ft. 2384
cal arts and musical instruments. This belt houses certain
prominent institutes such as RLV College of Music and In- Average Apartment Size of Row Houses/Villas 2284
stitute of Fine Arts. The center for learning, Kalamandalam Total Supply (in million sq.ft.) by June 2012 2.767
is also present in Tripunithura.
Total Supply (in no. of units) by June 2012 1741
• The strip between the bye pass junction, Edapally and Aroor Source : ICICI Property Services
is evolving into a major business hub with large retail for- Note : The areas mentioned are super built up areas
mats, showrooms and hotels located in this belt. Outlets
of Mercedes, Hyundai and Maruti etc. are located on this Distribution of Apartment Type:
belt.
South East Kochi
• The proposed transport hub at Vytilla would help decon-
gest city traffic and aid in channelising transport services 6% 3%
in Kochi. The proposed terminus is expected to bolster the
real estate prospects in this region. 24%

• 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.

67%

1BHK 2BHK 3BHK 4BHK

The above represents some of the key developments and not the universe
Source : ICICI Property Services
Some of the Residential Projects in South East Kochi Property Price Movement Index: South East Kochi (March 2005-December 2009)
350
Name of the Project Developer Approximate Capital No. of Units Expected Date of
300
Values (Rs./sq.ft.) as on Completion
March 2010 250
Daffodil Gardens Abad Builders 2200 39 Completed 200
Heera Royale Heera Homes 2600 88 May-2010 150
Kings Court SRK Group 2200 96 December-2011 100
Kingdom SFS Homes 2650 70 December-2010 50
Plum Flower Mather Projects 3000 40 Completed 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
Palm Grove Kent Constructions 3100 96 December-2010 Kadavanthra Vytila Panampilly Nagar
Santi Arthanat Santi Homes 2750 68 June-2012 Vytilla- Edapally Byepass Jawahar Nagar Chilavannur
Silverstone Desai Homes 1850 188 N/A
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 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
Residential Property Rates in prime residential markets of South East Kochi
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.

Location Average Rates (Rs./sq.ft.) Average Rentals for 2 BHK (Rs./month) Market Outlook
350
300
Chilavannur 2750-3250 4000-6000 S
250
Jawahar Nagar 3500-4500 8000-10000 S
200
Kadavanthra 2500-3000 6000-8000 SS 150
Panampilly Nagar 3500-4500 8000-12000 S 100
Tripunithura 2300-2600 3000-5000 SS 50
Vytilla 2400-2800 5000-7000 SS Mar Mar Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar
05 06 07 07 07 07 08 08 08 08 09 09 09 09 10
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. South East ( Actual) South East ( R&L)
Rates mentioned above are subject to change at any given point of time
As above graph indicates, the property prices in South East Kochi have been increasing more than proportionately than the consumer
Outlook Key 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
South West Kochi Distribution of Apartment typE:
Major Locations: M.G Road, Chitoor Road, Marine Drive, Ayya- South West Kochi
pankavu, Banerji Road, Thevara
5%
• This region forms the Central Business District (CBD), hous- 14%
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.

Residential Market in South West Kochi

81%
Average Apartment Size of 1 BHK in sq.ft. 750
Average Apartment Size of 2 BHK in sq.ft. 1225
2BHK
Average Apartment Size of 3 BHK in sq.ft. 1802
3BHK
Average Apartment Size of 4 BHK in sq.ft. 2868
Total Supply (in million sq.ft.) by June 2012 1.857 4BHK
Total Supply (in no. of units) by June 2012 970
Source : ICICI Property Services
Source : ICICI Property Services
Note : The areas mentioned are super built up areas
Some of the residential projects in South West Kochi Property Price Movement Index: South West Kochi (March 2005-December 2009)
350
Name of the Project Developer Approximate No. of Units Expected Date of
Capital Values (Rs./sq.ft.) Completion 300
as on March 2010 250
Bougan Villa Chakolas 5500 24 May-2010 200
East Thottekkat Asset Homes 5500 27 May-2010 150
Neptune Courtyard Prestige Group 5500 366 N/A 100
Purva Grandbay Puravanakara 4300 265 March-2011 50
Santi Sreyas Santi Homes 5500 16 December-2010 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
Santi Seaview Santi Homes 3500 30 December-2010
M G Road Chittoor Road Marine Drive Ayyappankavu Thevara
Source: ICICI Property Services Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)
*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
Comparison of actual (A) and real & logical (R&L) price movement
Residential Property Rates in prime residential markets of South West Kochi 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
Location Average Rates (Rs./sq.ft.) Average Rentals for 2 BHK (Rs./month) Market Outlook is not available we have substituted the Kochi inflation figures for each zone.
Ayyappankavu 2250-2750 4000-6000 S 350
Banerji Road N/A N/A S 300
Chitoor Road N/A 10000-12000 S 250
Marine Road 5500-6500 15000-20000 S 200
M.G. Road N/A N/A S 150
Thevara 3000-4000 7000-10000 SS 100
50
Source: ICICI Property Services Mar Mar Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar
*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 05 06 07 07 07 07 08 08 08 08 09 09 09 09 10

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

R- Rising F- Falling S- Stagnant SW- Stagnant but likely to weaken SS- Stagnant but likely to strengthen 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.
North East Kochi Residential Market in North East Kochi
Major Locations: Edapally, Kalamassery, Chembumukku, Va-
Average Apartment Size of 1 BHK in sq.ft. 600
zhakkala, Kakkanad, Vennalla
Average Apartment Size of 2 BHK in sq.ft. 1150
• The bypass junction off Edapally is developing as a mall cor- Average Apartment Size of 3 BHK in sq.ft. 1600
ridor, with various malls under construction in this belt. The Average Apartment Size of 4 BHK in sq.ft. 2130
Lulu Hypermarket, an INR 1200 crore venture, which hous-
Average Apartment Size of Row Houses/Villas 2555
es a multiplex, hypermarket, hotel and an airlines tower is
being built on an 18-acre plot off the Edapally junction. The Total Supply (in million sq.ft.) by June 2012 16.06
project would have a total built-up area of approximately 2 Total Supply (in no. of units) by June 2012 11,227
million sq.ft.
Source : ICICI Property Services
Note : The areas mentioned are super built up areas
• 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. Distribution of Apartment type:
North East Kochi
• Kakkanad houses various government buildings including
the Civil Station, a district panchayat, the Kochi High Power 1% 2% 5%
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 32%
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- 60%

hnology and the Model Engineering College are located at
Thrikkakara.

1BHK 2BHK 3BHK 4BHK

ROW HOUSES/VILLAS

Source : ICICI Property Services

Some of the Residential Projects in North East Kochi Property Price Movement Index: North East Kochi (March 2005-December 2009)
Name of the Project Developer Approximate Capital Values No. of Units Expected Date of 350
(Rs./sq.ft.) as on Completion
March 2010 300

Berry Woods Mather Projects 2650 172 March-2012 250

Confident Auriga III Confident Group 2100 408 December-2011 200

Eternia SFS Homes 3500 86 Completed 150
Galaxy Greens Galaxy Homes 2500 120 N/A 100
Green Metropolis MIR Realtors 2500-4000 380 June-2011
50
Ivy League Skyline Builders 2590 416 N/A 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
Nagarjuna Laurel Nagarjuna Constructions 2400 104 June-2010
Edapally Kakkanad Kalamassery Vazhakkala
New Town Heights DLF Homes 2500 1600 December-2011 onwards
Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)
Orchid Meadows Manjooran Housing 2750 108 N/A
Purva Eternity Puravanakara 2290 600 June-2010 Comparison of actual (A) and real & logical (R&L) price movement
RDS Rhythm RDS Projects 2700 48 N/A
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
Orchid Meadows Manjooran Housing 2750 108 N/A 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.
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. 350
Rates mentioned above are subject to change at any given point of time 300

Residential Property Rates in Prime Residential markets of North East Kochi 250
200
Location Average Rates (Rs./sq.ft.) Average Rentals for 2 BHK (Rs./month) Market Outlook 150

Chembumukku 2250-2500 N/A S 100

Edapally 2750-3250 6000-10000 SS 50

Mar Mar Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar
Kakkanad 2200-2700 6000-8000 SW
05 06 07 07 07 07 08 08 08 08 09 09 09 09 10
Kalamassery 2000-2300 3000-5000 SW
North East(Actual) North East ( R&L)
Vazhakkala 2250-2500 6000-8000 SW
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-
Venalla 2300-2600 4000-6000 S tion in property prices. The prices continue to remain higher compared to the real and logical prices.

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
Outlook Key
R- Rising F- Falling S- Stagnant SW- Stagnant but likely to weaken SS- Stagnant but likely to strengthen
North West Residential Market in North West Kochi
Major Locations: Kaloor, Elamakkara, Palarivattom, Pottakuzhi,
Average Apartment Size of 1 BHK in sq.ft. 575
Kathirikadavu, Aluva.
Average Apartment Size of 2 BHK in sq.ft. 1225
• This region houses the famous Jawaharlal Nehru Interna- Average Apartment Size of 3 BHK in sq.ft. 1695
tional stadium at Kaloor. Average Apartment Size of 4 BHK in sq.ft. 2400
Average Apartment Size of Row Houses/Villas 2220
• Areas like Kaloor and Palarivattom, with their proximity to
the CBD, presence of relatively developed residential facili- Total Supply (in million sq.ft.) by June 2012 3.609
ties and proposed organized retail developments have pro- Total Supply (in no. of units) by June 2012 2205
pelled the real estate market scenario over the years.
Source : ICICI Property Services
• Aluva, which forms a part of the Kochi Metropolitan area Note : The areas mentioned are super built up areas
is one of the industrialised towns. It forms a transit point
for four towns-Angamaly, Kalamassery, North Paravur and Distribution of Apartment Type:
Perumbavoor. Its proximity to the Kochi International Airport
at Nedumbassery and excellent connectivity to the CBD/ North West Kochi
industrial areas have driven real estate development in this 5% 3%
region during the past few years.
6% 19%

67%

1BHK 2BHK 3BHK 4BHK

ROW HOUSES/VILLAS

Source : ICICI Property Services

Some of the Residential Projects in North West Kochi Property Price Movement Index: North West Kochi (March 2005-December 2009)
Name of the Project Developer Approximate Capital Values No. of Units Expected Date of 350
(Rs./sq.ft.) as on Completion 300
March 2010
250
Aqua Breez Abad Builders 2700 72 June-2011
Aqua Greens SFS Homes 2450 143 May-2010 200

Imperial Gardens Skyline Builders 3500 302 December-2011 150

Oxford Symphony Kishore Kumar Gokuldas 2550 48 N/A 100
PVS Iris PVS Apartments 2100 74 N/A
50
Serenade Mather Projects 3500 20 September-2010 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
Woodstock Olive Builders 3800 112 N/A
Kaloor Elamakkara Palarivattom
Pottakuzhi Kathirikadavu
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. Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)
Rates mentioned above are subject to change at any given point of time

Residential Property Rates in Prime Residential markets of North West Kochi 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 between quarterly property
Location Average Rates (Rs./sq.ft.) Average Rentals for 2 BHK (Rs./month) Market Outlook 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.
Aluva 2000-2500 5000-7000 SS
Elamakkara 2400-2700 4000-6000 S 350
Kaloor 3000-3500 6000-10000 SS 300
Kathitrikadavu 2500-3000 7000-9000 S 250

Palarivattom 3000-3500 6000-10000 SS 200

150
Source: ICICI Property Services 100
*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. 50
Rates mentioned above are subject to change at any given point of time Mar Mar Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar
Outlook Key 05 06 07 07 07 07 08 08 08 08 09 09 09 09 10

R- Rising F-Falling S- Stagnant SW- Stagnant but likely to weaken SS- Stagnant but likely to strengthen North West(Actual) North West(R&L)

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.
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.
Research and Consultancy
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.

Feasibility Studies Asset Advisory Strategic Advisory Market Research

Marine
M.G Road Vytilla Maradu Kakkanad Edapally Kaloor Aluva
Drive
• Location Analysis • Optimum Land Use Analysis • Entry Strategy • Supply Estimation

Infrastructure • Market Analysis • Site Analysis & SWOT • Pricing Strategy • Demand Projections
(connectivity,
roads, proximity to • Size, Pricing, Phasing and Posi- • Catchment Analysis • City and Region Prioritisation and • Expected Absorption Trends
markets, schools) tioning (Space Programming & Expansion Strategy
Demarcation for Optimum Utilisa- • Trande & Tenant Mix • Demographic Analysis
tion of space)
Residential Cost • Land Valuation • Consumer Trends
• Financial Analysis
• Consumer Behaviour Analysis

Proximity to/Pres- Disclaimer

ence of Organised This document is being communicated to you solely for the purposes of
Retail providing our views on current market trends.
This document is being communicated to you on a confidential basis
Future Infrastruc- and does not carry any right of publication or disclosure to any third
ture Development party. By accepting delivery of this document each recipient undertakes
not to reproduce or distribute this presentation in whole or in part, nor to
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the prior written consent of ICICI HFC Ltd., who the recipient agrees has
Future Employment
the benefit of this undertaking. The recipient and its professional advis-
Generation
ers will keep permanently confidential information contained herein and
not already in the public domain.
Key to the Location Attractiveness Index: 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-
Good/Low Cost curities or investment advice, or opinion regarding the appropriateness
Above Average 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
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Below Average
The information set out in this document has been prepared by ICICI
Bad/High Cost HFC Ltd. based upon projections which have been determined in good
faith 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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