Kerala is an ideal place for buying your home. It is much easier and cost effective to buy apartments here than anywhere else and you will certainly get a good deal. Depending on your budget and facilities required, real estate companies in Kerala can construct the best apartments for you.
There has been recent calls in the Kerala political circles to promote green construction technologies in order to make homes environment friendly as well as cost effective. The Kerala State Housing Board (KSHB) has been holding many seminars on cost-effective housing technologies recently.
Selection of appropriate building materials can minimize the expenditure of building construction to a great extend. With effective cost management, it is possible to build high-rise apartments and condominiums at a rate much cheaper than what is currently offered in the market. The waiting period for the buyer can also be reduced considerably.
Pre-fabricated reinforced concrete helps in reducing the time period taken to complete a project. The construction cost is reduced substantially and thereby it reduces the financing risks and non-performing loans with the banking institutions.
Several builders in Kerala such as Artech Realtors have already started with cost effective housing projects with an intend to provide affordable luxury to their customers in major residential areas. As a critical step in the Kerala real estate sector, this is bound to increase the number of rich and middle class people to consider buying a flat.
The current cost-effective projects are so attractive that they are enticing many NRIs and residents to make significant investments in the real estate arena of the state. As the demand for budget apartments in Kerala increases, constructing them is the top priority of the builders.
The overall monthly income and the volatile economic scenario can be attributed to the rising demand for apartments that are under 30 lakhs. A vast majority of people in Kerala earn less than Rs. 50,000 a month and most banks restrict the loan amounts to 80% of the property value. This means that an apartment costing 25 lakhs would be financed upto just 20 lakhs. Therefore studies show that if a builder can roll out an apartment at a lower price range, there will be huge demands for it.
This is prompting several builders to plan and construct cost effective villas and apartments in Kerala. Real estate market is not for buying or investing. One can also sell the apartments and with Artech Realtors, it is possible to get apartments with good resale value.