Rising Demand for Residential Properties in Kannur

Kannur is a beautiful coastal city in Kerala, renowned for its sun kissed beaches, ancient temples, forts, and water parks. It has Asia’s longest drive-in beach, gently rolling hills with scenic views, and cultural institutes that have earned it the distinction of being one of the most sought-after tourist destinations in Kerala. Today, it is emerging is the preferred city to migrate to, settle down and start a business or find employment, leading to rising demand for residential properties in Kannur.

Infrastructure

A slew of development projects, building of IT parks, and burgeoning industrial development has put Kannur on the map for those looking to settle down in an urban area without it being crowded and polluted. The weather in Kannur is moderate and pleasant, adding to the desirability of the city as a place to live in.

Infrastructure development like excellent road networks, rail connectivity, and the building of an international airport connect the city to not just the rest of Kerala or India, but to the world itself. There is a well-established public transportation system in Kannur, with excellent bus routes and services. The NH 66, the Kannur – Kozhikode – Mysuru highway, and Kannur Outer Ring Road which is under construction, is expected to further enhance the connectivity of the city, making commuting and travel hassle-free, safer, and faster.

All these factors have also increased commercial activity in Kannur, further driving the demand for real estate. 

 Builders in Kannur have launched a number of residential projects to cater to the increasing demand for residential spaces. More than villas or individual homes, flats in Kannur are in high demand because of the convenience and security they offer. Flats today feature several amenities like landscaped gardens, walking path, swimming pool, multiple elevators, 24/7 power backup, CCTV surveillance, security, clubhouse, gym, party hall, and so on. There is a growing demand for such lifestyle apartments in Kannur today, as an average family in an individual home cannot build a gym and pool and such facilities by themselves.

The Most In-Demand Residential Localities in Kannur

Understanding the real estate market in Kannur for flat buyers is very important, as several factors impact the price of properties. One of the main considerations is the location. Let’s see the most desired locations in Kannur:

• Thalassery: historically significant, this coastal town combines modernity with old-world charm
• Payyannur: excellent infrastructure with numerous residential projects, hospitals, schools, markets, etc.
• Mele Chovva – an upcoming posh locality with several premium projects
• Fort Road – historically significant and abounds with natural beauty
• Payyambalam – famous for the beach and greenery, it’s a premium locality
• Chala – strategic location and proximity to several landmarks
• Thavakkara – in the heart of the city, it has excellent infrastructure
• Thalap – located on NH 66, it boasts several reputed healthcare and educational institutions
• Thottada – a delightful blend of urban comfort and suburban charm
• South Bazaar – a vibrant area with excellent transportation connectivity
• Pallikkunnu – peaceful haven that minimizes stress

What makes these locations desirable? It is because of several factors like available infrastructure, local transportation facilities, connectivity to the rest of the city, availability of essential goods, markets, healthcare facilities, educational facilities, green spaces, and so on.

Price Trends and Affordability

It is important to follow the real estate trends so that you get to know the price per square foot or per cent in each locality of Kannur. Real estate prices have not fluctuated greatly in the city, but most have appreciated in value, as can be expected of property. What’s more, prices of flats are more affordable in Kannur compared to other cities in Kerala. While premium lifestyle apartments can cost quite a bit, it is still possible to purchase a flat for a reasonable price, if you look for emerging localities. Do your homework and understand these factors before you make your decision. This can work as a guide to choosing the perfect flat in Kannur.

Legal Considerations 

You need to know the must-have legal documents for buying a flat in Kannur, among other things. Ensure that there is a clear title, and that you enter into a proper agreement with the seller. Property tax receipts, non-encumbrance certificate, RERA certificate,

Occupancy certificate, and the necessary NOCs must be available with the seller or project developer. This will help prevent any legal problems for you in the future.

Make sure that the builder has adhered to RERA norms – these are established to protect the interests of homeowners and buyers.

Future Prospects

The future of Kannur’s real estate looks bright and seems poised for even more growth and leading to a rising demand for residential properties in Kannur. Infrastructure development is increasing its pace rapidly, and the economy of the city is stable too. This is driving the demand for real estate properties in Kannur more than ever. If you’re looking to invest in real estate with a view to getting returns, this is the ideal time to enter the market. You can hope to make substantial gains in the near future. 

Conclusion

Thanks to its swiftly improving infrastructure, the real estate market in Kannur is highly promising. There are several excellent residential areas in the city where you can buy affordable and lifestyle apartments according to your budget. There is a plethora of choice for you to make a selection as per your preferences. 

PVS Builders is one of the leading builders in Kerala and have successfully completed and delivered a number of apartment buildings over the past several years. All our projects adhere to RERA norms and government regulations. Our superior construction and transparent dealings have earned us an impeccable reputation in the industry.