Kochi is not just on the government’s smart city list, but also on the map of many new IT businesses. Apart from being the commercial hub of Kerala, developments such as turning the international airport into a Public Private Partnership (PPP) and upgrading of the sea port have brightened the prospects of the real estate sector in the city. With the arrival of Kochi Metro, there will be a major boost in different sectors and Kochi will transform into a commercial capital, it will also further help in the expansion of the city.
The city has witnessed a lot of infrastructure development.Metro corridor, operation of the mobility hubs, expansion of IT parks and development of the Electronic Park in Amballur village are set of projects in the planning stage. The real estate sector driven majorly on the strength of NRI’s has also added the impetus to the city and has made it a much sought after place.
A Few Growth drivers
– Vallarpadam International Container Trans-shipment Terminal: The project will make this port city the trans-shipment hub of the Indian peninsula, opening up investment opportunities here.
– Kochi Metro: KMRL has proposed an elevated route spanning 25.2 km from Aluva to Tripunithura, with 24 stations. The first phase is expected to be operational by June 2016. The Second Phase will be from JLM Stadium – Kakkanad. Areas of prime importance such as Infopark Phase I, Infopark phase II, SEZ will be covered in this phase.
– Industrial corridors: The Kochi-Coimbatore and Kochi-Kasaragod industrial corridors are expected to take-off soon. The goal of the projects is to double employment, industrial output and exports within five years.
– IT SEZ: The project which is under-construction is expected to create over 90,000 jobs. SmartCity Kochi is located approximately 12 km from downtown Kochi and 22 km from the Cochin International Airport.
– Oceanarium: Conceived as a tourism and marine research facility to tap the tourism potential of the state, the underwater aquarium in Puthuvypeen island in Kochi will be the first of its kind in India.