THE KERALA REAL ESTATE MARKET

The Real Estate business sector of Kerala is one of the fastest growing sectors as far as the major or the metro cities are concerned. The population in these cities combined with the financial aspects add to the field of investment in properties.

The sector of Real Estate in Kerala is not only limited to lands or housing but also includes establishments both commercial and non-commercial establishments, office spaces and so on. The prominent industry of tourism also adds to the increase in the demand for properties in all the major tourist spots.

Current State of Real Estate Market

But due to the recent demonetization drive by the Government, the real estate growth has been put to a halt. Even then the major cities of Kerala - Kochi/Ernakulam, Trivandrum/Thiruvananthapuram and Calicut/Kozhikode are the top destinations that people prefer to make real estate investment. The following is the current trends of the real estate sector in these cities.

The rush to invest in real estate in Kerala has also attracted the unscrupulous operators in this line of business, so much so, that the government has enacted an ordinance to regulate real estate in the state; making Kerala only the second state after Maharashtra to enact such an ordinance.

Prominent Places in Real Estate

Kochi continues to be the preferred choice for most non-resident Indians (NRIs). The reasons for this are connectivity, availability of good schools, colleges, and hospitals as well as the options for employment. Talking about connectivity, Kochi is well connected by road with all parts of Kerala and other parts of India. The international airport has played a major role in giving this southern city its international flavor.


The city’s premier real estate destination is the Marine Drive where the property prices are sky high. However, the locality which is very popular with most home buyers today is Edapally, where the average prices are about INR 4600 per sq ft. This is the only locality which has shown a marginal increase in prices in the past few months. Property prices in Aluva, a nearby town have gone down by 6% and are quoting at INR 3700 per sq ft in the quarter from January to March 2015.  Other localities which are also preferred by home buyers are Panampally Nagar, Kakkanad and Kaloor.


Take the case of another suburb of Kochi, Thrippunithura. Once the capital of the Kingdom of Cochin, Thrippunithura has been the choice of the Dubai based developer, the Legend Group, to develop luxury apartments covering over a million sq feet.


Kozhikode or Calicut, as it is better remembered, is on the map of hot spots to invest in Kerala. It has been so for some time and has attracted investments mainly from the Middle East, where a large contingent of its residents are employed.  Of late, many Information Technology companies have opened offices in this city. This has attracted young professionals to the city. Finding a house for sale in calicut is a pretty easy task nowadays.


The Indian Institute of Management (IIM) in Kozhikode is also playing an important role in training young managers. Kozhikode has an international airport and is also well connected to Bangalore and Mysore by road.  The city is relatively clean and is on a fast track to growth, especially as the government has plans to introduce a Light Metro Rail to connect the city with its other parts.

REAL ESTATE KERALA

Beside Kerala real estate designating one of the highest economic growth explosions in recent times, it might be a good time to be a part of the trend now. Many freebies are doing offered along with thoughtfully planned out homes for almost all sizes of pockets.

 With changing lifestyles, the current generation of Keralites is buying their own homes a little earlier as compared to the previous generation. Due to increasing economic freedom, better loan facilities and of course, more employed people seizing the opportunity of becoming a part of the booming real estate industry and investing at the right time.

Real estate is the recent term for land and anything that was permanently appended to it. Fixtures include buildings, fences, attached to buildings, such as plumbing, heating, and light fixtures. Property that is not affixed has regarded as Personal Property. Kerala is a favorite tourist destination spot; property prices are escalating daily; other significant factors contributing to the spiraling rates could be the numerous upcoming government projects including airports, seaports as well as the metro rail being planned for Kozhikode and Trivandrum, aside from further expansion of the one in Kochi. These three major cities are also attracting people like magnets and realtors are not far behind in offering them modern homes and offices with all the latest technologies at hand.

Changing lifestyle: The reason behind most of are opting for a home in Kerala is its peaceful and pleasant life it offers. It is the ideal destination for people who like to invest their earned amount in real estate. At a competitive price, you may able to buy flats for all your essential needs. It assists you to live a present lifestyle with a high positive ambiance

Lots of Choices: When purchasing a residential building, you have an option to select the right flat on your limited budget. Many real estate builders are occupied lots of projects to render exceptional property to all buyers. It helps to live with comfortable weather condition in the state.

Latest amenities: Kerala is the fastest growing city in the real estate business. It allows some facilities for homeowners like tourism promotion activities, educational activities, metro development, IT companies and much more, each flat may be enriched with essential and modern amenities that assist to lead the normal life without any hassle.

In Kerala, real estate offers a practical solution whether it may be village or town. Investing in real estate on this destination always provide benefits to the investors. The real estate investment in Kerala helps to find a valuable solution for your money. It is one of the leading city which gives a particular solution for all clients. With minimum investment, one might attain high returns on the property. You might live with beautiful greenery and natural surroundings in the destination. Flat price low when compared to other locations.

Check out house plots for sale in kottayam

How to Sell Your House by Owner – Without a Realtor

A house plots for sale in kottayam is a challenge. But many people do it every month. The only most reasonable reason to sell the home yourself is to avoid having to pay the real estate fee. In the markets, the average real estate commission is six percent of the sale price. Which means that if you are selling a house or a particular apartment for a specific fixed amount, then you will have to pay a commission of six percent.

The commission is according to the sale price of the property. By telling an example, if your home may be worth $400,000, you have a $250,000 contract on it which means that you have a net equity of $150,000. And if you’re handling a real estate commission,  then you’ll have to decrease that by $24,000. That will give you a net of $126,000 at the closing table.

What Does a Realtor Do?

Selling your home without a realtor which mean thousands of dollars back in your pocket. The realtor does four things to get their commission. Some of the points are mentioned below:

The will list the house with the Multiple Listing Service (MLS). They will evaluate the MLS activity for any relevant listings and updates on homes of interest to their buyers and sellers.
Markets your house through the websites, newsletters, postcard, social media, property ads, etc
The scheduling showings, coming up with house hunting is the agent's daily routine
Promotes your house and probably hosts open house events.
Acts as an agent when starting discussions and brings you to the closing.

How To Sell Your House “By Owner”

Discover the right market value of your home - First of all; you must determine the correct market value of your home. Your only plan at that time will be to cut the price down to where it should’ve been in the first place. You can determine the value of the property by using the online real estate valuation sites; you can Get a competing business analysis from a real estate agent, etc.

Prepare the home for sale - 

When a buyer views your home they will acutely conscious that every flaw in the property will become their query after closing. Make sure to Touch-up or repaint your house. Always choose neutral colors, because buyers do.

Market the house for selling -

You can market your home with your style. You can create sales flyers or brochures. So that you can provide to people who look at your home, as well as to anyone you face who shows interest.

Adjust the sale - 

If you are not using a real estate agent, then you must adjust the sale with any buying individuals. The buyer will surely come with an offer that’s under your asking price. They may also carry some hard situations, such as having you pay the closing prices.

Real Estate Agents

Real estate agents are licensed professional people who negotiate and arrange the buying and selling any real estate transactions. The negotiation and arrangement include showing property, listing property, filling in contracts, listing agreements, and purchase contracts.

Also, the agents usually work on commission, thus their income depends on their ability to assist clients and close transactions. Besides, the agents prefer different duties, depending on whether they work for the buyer or the seller. Another essential thing to keep in mind for consumers to understand is that whether a real estate agent represents the buyer, the seller or both parties because the agent’s loyalty can significantly affect several details of the transaction, including the final price. Moreover, the agents must disclose their representation so that buyers and sellers are aware of any conflicts.  

Payment Of Real Estate Agents 

Typically, the agents get paid from the commission that is a percentage of the property’s sale price. The more the house sells for, the more money an agent makes. But, today people can search on online websites for property to buy or sell thus they can avoid the help of agents. So, the traditional payment is changing, and some brokerages charge a lower commission for more expensive houses. Also, the broker of record will receive a predetermined portion of the commission. Moreover, other companies offer a fee-for-service pricing structure that lets sellers pay only for certain parts of the sale process.

Difference Between Agents and Brokers

If you are entering the real estate business for the first time, you may find real estate professionals' various titles a little confusing. But, among them, the most common names people hearing will be Real Estate agent and broker. Brokers are the individuals who own a company or a franchise, and they are responsible for setting up earnest money accounts and for approving final contracts. Agents are the one, who works for the brokers, and they split their commissions with these supervisors. Moreover, the broker bears responsibility for the actions of the real estate agents under his or her supervision. Also, if the consumer feels unhappy with your real estate agent and cannot resolve the issues directly, then you can directly approach the broker to ask for help and perhaps another agent for you to consult.

Working of Real Estate Agents  

The Real Estate Agents can either work with a buyer or seller. The agents who work for the seller advise the clients on how to price their property and prepare it for sale which includes providing tips on last-minute improvements that can boost the price or encourage a speedy sale. Moreover, the seller agents market the property through listing services, networking and advertisements for better reach. On the other hand, agents who work for the buyer search for available properties that match the buyer’s price range and wish list. Also, they look at the past sale data for the buyers to estimate the price of the property they want to buy. 

Renting Your First Apartment

Once you begin your first real job, you will be looking for a new home to live. You need to understand how to rent your first apartment. This is an impressive time, and you may be thinking of getting your place. This enables you greater freedom and flexibility. Before you make this choice, you need to make sure you thoroughly consider how much you really can afford. 

The method can be a bit intimidating for a first-time renter. Below we take you through the steps of getting an apartment, navigating the legalese of the lease agreement, as well as maintaining your rights as a tenant. Let’s do this.

Create criteria for your ideal apartment.

What are you looking for in an apartment? Do you want a studio or a single bedroom? Maybe you want to rent a small house? Do you need the apartment to come with appliances, including a washer and dryer? Do want it to be close to the school or your work? Do want it to be within walking distance of retail, like groceries or coffee shops? Are you willing to live in a neighborhood known for its crime levels?

Identify potential apartments

With your list of rules in hand, jump online and start hunting for apartments.  If you want an apartment here in Calicut, begin the search by Googling: “House for sale in Calicut.” Google brings up a map that pinpoints apartments or homes for rent in your town. That map makes narrowing down potentials pretty evident because you can see if the houses are close to operating or school, near grocery stores, or are in safe neighborhoods of town.

Consider Getting a Roommate

After you have discovered the general costs and what you can afford, you should determine whether or not you require a roommate. You need to take into thought that you will be paying for all of the benefits yourself, and these may cost more than you receive. You should also determine the area of the place that you require. Generally, your first residence will likely be on the shorter side.

Take Your Time to Make a Decision

Although you may feel compelled to make an important choice, generally you should be okay considering about it for 24 hours. You should go with your general sentiments about the place when you make a choice. If you go for the apartment with the reasonable rent but feel that the building is rundown or unstable, then that's not a wise judgment. You should feel correct about both the value and the apartment.
Don’t neglect to consider the amenities offered by the apartment community. The more conveniences offered generally indicates higher rent. However, if you notice a good deal for budget house for sale in cochin, you may end up storing money if you were to buy cable, a gym membership, and a telephone line.

Fill Out Your Application

Ultimately, you will need to fill out the form, and pay the application price. Some homes may require a co-signer if you are beginning your first job. They may ignore this for a higher deposit. Generally, you will pay your security along with your first and previous month’s rent when you confirm your lease. This usually occurs on the day that you move into the residence.

How to Rent Your Apartment Easily?

The rental housing business has grown over the years, with new legislation and registration systems that help to protect landlords against the potential risk of tenants disrupting the terms and conditions of the rental agreement. When it comes to giving their property out on rent, owner's concerns generally centre around the amount of rent to be charged, tenant’s ability to pay inquiries about the lease agreement, lock-in period, security deposit, verifying tasks, and registrations if any.

How To Rent Your Apartment

Once your home is open to rent, figure out your monthly costs and estimate similar rental properties in the area to plan your list price. When you publish your ad for rent, you’ll want to highlight practical features to help sell the property to proposed renters. Many real estate experts opine that the amount to be charged as rent is immediately related to the home’s value. Usually, the rental amount is 0.8 % to 1.1 % of the home’s total cost. Other factors that can be weighed are the location of the property and amenities that are being provided (semi-furnished, fully furnished property). Other visible charges, such as maintenance costs, may also be incorporated in the rent. Be attentive of times of year that are more attractive to renters—March through August are typically the best times to find a tenant.

Residential land for sale in Cochin

Screen potential tenants

Once you recognize a potential tenant to rent your apartment out to, ask them to fill out an application includiing their name(s), employer, previous landlords, and references. You’d also be wise to get their Social Security numbers and get signed permission to verify their credit reports and criminal backgroung. Be conscious of landlord and tenant rights, which differ by region but legally administer fair treatment.

Registration of the lease agreement

All rental agreements should be in written and registered. The rental contract should define the terms and conditions of the lease, the monthly rental price and safety deposit. It should also settle who will pay for the utilities, water, electricity and maintenance costs. The purpose of tenancy should be mentioned explicitly, that is – whether the property is being used for business or household purposes. If the rental agreement is set to terminate and you and the tenant decide to extend the term of the lease for a certain period, then, the extension should also be mentioned. Expert suggests that it is necessary to register the lease agreement, under the Registration Act, to make it legally confirmed. In accordance with the Transfer of Property Law, lease agreements, with a tenure of more than one year, must be registered. The general practice that is served in the market is to get into a lease period for 11 months, with the option to restore it when the period lapses, by another 11 months, rendered certain conditions be fulfilled. Such leases should also be adequately stamped.