Kannur Real Estate Market Information

With the escalating needs and demands for both residential and commercial properties, Kannur real estate is growing at an unparalleled rate. Before getting into the Kannur property details, let us first take a brief look at the district.

Kannur, also well known as Cannanore, is one of the major cities in the state of Kerala. The city is renowned as the land of traditions and looms due to loom industries operating in the district, and habitual folk arts held in its local temples. It is the biggest city in the region of North Malabar, and is also one of the most ancient municipalities in Kerala State.

It has been regarded as the 4th biggest urban agglomeration in the state, and it comes after Kochi. The district is well known for many scenic beaches with which it draws huge number of tourists from all around the nation every year. And, of course, who doesn’t wish to live near a place that could offer to sooth your heart without devoting much time to travel. Need a solution? Find a home in a city that is bordered by a beach.

The entire district of Kannur has remarkable strategic military significance, and it accommodates one of the 62 major armed cantonments present in the nation. The Kannur Military Cantonment, has been considered as the present head office of the Indian Defense Security Corps. INS (Ezhimala Naval Academy) also comes in the district of Kannur; it is the biggest naval academy in Asia, and the 3rd biggest in the world.

As per a recent study conducted by the well known research company Indicus Analytics, Kannur, has obtained a place in the list of Top 10 Best Cities to live in India. The main parameters that are used to determine this are education, health, safety, environment, entertainment and public facilities.

The astonishingly stunning and attractive beaches in the city appeal to numerous tourists from all around the world, which has, in turn, led to remarkable development of Kannur real estate industry in the recent times. Each residential property located in the city is a pint-sized heaven along with tranquility and peace of the unruffled coastline.

Property Prices in Kannur

Due to its crucial geographical location that has it close to the famous Arabian Sea, the Kannur property rates have always been very high, and prices are going only northwards with the increasing urbanization of the district. Commercial properties located in Kannur are welcoming the budding mall culture into the city.

Already, numerous retail mall projects have been started within the city limits with the help of improved gratitude in the entire city’s realty circle. Let us get into the present commercial and residential Kannur property price trends in the following sections.

A residential plot of 8,000 sq.ft situated in the Taliparamba city of the Kannur district now costs around Rs. 30 Lakhs, while the cost of a residential plot of 3,000 sq.ft in the area of Koothuparamba is about Rs.7 lakhs.

The rent for 2 BHK 1500 square feet house located in Thalassery is known to cost around Rs. 5,000. A 5,900 sq.ft area of residential land in the area of Kappad can be obtained at a price of Rs. 10.13 lakhs. A 13,200 sq.ft house in the region of Iritty is priced around Rs. 60 Lakhs.

Now, with the well established consultancy facilities offered by the local Kannur real estate negotiators, buying or selling any type of property within the city has become very convenient and simple. Real estate agents are always well aware of all kinds of properties and the related prices in the Kannur district. These agents can help you in obtaining any sort of information on properties in Kannur, in accordance with your demand, comfort and budget needs.

Upcoming Projects in Kannur

Coming to the upcoming projects in Kannur real estate market, an international airport in Kannur, which is expected to be function by 2014, is being constructed with the projected budget of around Rs. 1130 crore. So, all the new townships, apartments, layouts and commercial establishments around that area are bound to fetch you excellent returns by the year 2015-16. Investments made on land seem more like gold embedded in land.