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					      KOChi
       THE LAKE              OF THE

            lAGOOn
The inviting and magical world of Kochi boasts of hundreds of is-
lands, some even uninhabited, and is part of the soothing and serene
backwaters of Kerala. One says the city’s modern name is derived
from the Malayalam words, Koch Azhi, meaning ‘small lagoon’. The
city is a perfect retreat for tourists with its unique houseboats pro-
viding a spectacular view of the picturesque backwaters. Truly, a
paradise found.
The CiTy FACT File                                                                                                                        AdMinisTrATive FrAMewOrK                                              AiMs And ObjeCTives OF GCdA
Kochi was the centre of Indian spice trade for many centuries,       ing of the treaty. In 1866, Fort Kochi became a municipality, and    Corporation of Kochi is the municipal corporation that manages
                                                                                                                                                                                                                •	 To guide urban development by checking urban sprawl and
and was known to the Yavanas (Greeks) as well as Romans,             its first Municipal Council election was conducted in 1883. The      the city of Kochi (formerly known as Cochin). The corporation
                                                                                                                                                                                                                   promoting healthy growth of urban and rural areas through
Jews, Arabs, and Chinese since ancient times. Kochi rose to sig-     Maharaja of Kochi, who ruled under the British, in 1896, initiated   is headed by a Mayor. The city is divided into 70 administrative
                                                                                                                                                                                                                   long term, short term and action area oriented detailed de-
nificance as a trading centre after the port at Kodungallur (Cran-   local administration by forming town councils in Mattancherry        wards, from which the members of the corporation council are
                                                                                                                                                                                                                   velopment plans
ganore) was destroyed by massive flooding of the river Periyar       and Ernakulam. In 1925, Kochi legislative assembly was consti-       elected for a period of five years. The corporation has its central
in 1341. The earliest documented references to Kochi occur in        tuted due to public pressure on the state.                           office situated in Ernakulam and has zonal offices at Fort Kochi,
                                                                                                                                                                                                                •	 To coordinate the activities of different developmental agen-
books written by Chinese voyager Ma Huan during his visit to                                                                              Mattancherry, Palluruthy, Edappally, Vaduthala and Vyttila.
                                                                                                                                                                                                                   cies including government departments operating in the
Kochi in the 15th century as part of Admiral Zheng He’s treasure     Towards the early 20th century, trade at the port had increased
                                                                                                                                                                                                                   area
fleet. There are also references to Kochi in accounts written by     substantially, and the need to develop the port was greatly felt.    For the purpose of administration, the corporation is divided
Italian traveller Niccolò Da Conti, who visited Kochi in 1440.       Harbour engineer Robert Bristow was brought to Kochi in 1920         into different departments, each catering to a different aspect of
                                                                                                                                                                                                                •	 To take up model schemes and projects in different sectors
                                                                     under the direction of Lord Willingdon, then the Governor of Ma-     the city’s development and welfare. The Personnel Department
                                                                                                                                                                                                                   of development
According to many historians, the kingdom of Kochi came into         dras. In a span of 21 years, he transformed Kochi as one of the      takes care of the general administration of the city. The various
existence in 1102, after the fall of the Kulasekhara empire.The      safest harbours in the peninsula, where ships berthed alongside      departments include that of Town Planning, Health, Engineering,
                                                                                                                                                                                                                •	 To monitor and implement the plans and proposals through
King of Kochi had authority over the region encompassing the         the newly reclaimed inner harbour equipped with a long array of      Revenue, Accounts and the Council Section. The corporation has
                                                                                                                                                                                                                   public participation, timely revision and by prioritising pro-
present city of Kochi and adjoining areas. The reign was hered-      steam cranes.                                                        a Janaseva Kendram (meaning centre for people’s service), that
                                                                                                                                                                                                                   posals
itary, and the family that ruled over Kochi was known as the                                                                              addresses the issues of the public.
Kochi Royal Family (Perumpadappu Swaroopam in the local ver-         In 1947, when India gained independence from the British co-
nacular). The mainland Kochi remained the capital of the princely    lonial rule, Kochi was the first princely state to join the Indian   GreATer KOChi develOpMenT                                             GCDA helps the other developmental agencies, both private and
                                                                                                                                                                                                                public in directing investments; takes up comprehensive sector
state since the 18th century. However, during much of this time,     Union willingly. In 1949, Travancore-Kochi state came into being
the kingdom was under foreign rule, and the king often only had      with the merger of Kochi and Travancore. The King of Travan-
                                                                                                                                          AuThOriTy (GCdA)                                                      wise studies, identifies growth centers; creates basic infrastruc-
                                                                                                                                                                                                                ture including developable land through setting up land bank and
titular privileges.                                                  core was the Rajpramukh of the Travancore-Kochi Union from           The Greater Kochi Development Authority (GCDA) is the plan-           takes up private public partnership projects. GCDA also takes
                                                                     1949 to 1956. Travancore-Kochi, was in turn merged with the          ning and development authority of the metropolitan area of            up consultancy works in planning and engineering fields, and
Fort Kochi in Kochi was the first European colonial settlement in    Malabar district of the Madras State. Finally, the Government        Kochi, which is the urban hinterland of Kochi port. The jurisdic-     undertakes studies in urban related projects.
India. From 1503 to 1663, Fort Kochi was ruled by Portugal. This     of India’s States Reorganisation Act (1956) inaugurated a new        tional area of GCDA comprises of the Kochi City, the commercial
Portuguese period was a harrowing time for the Jews living in        state-Kerala, incorporating Travancore-Kochi (excluding the four     capital of Kerala, 6 surrounding municipalities and 25 intervening
the region, as inquisition was active in Portuguese India. Kochi     southern Taluks which were merged with Tamil Nadu), Mala-            panchayats covering an area of 632 sq.km.
hosted the grave of Vasco da Gama, the first European explorer       bar District, and the taluk of Kasargod, South Kanara. On July
to set sail for India, who was buried at St. Francis Church until    09, 1960, the Mattancherry council passed a resolution,which
his remains were returned to Portugal in 1539. The Portuguese        was forwarded to the government, requesting the formation of
rule was followed by that of the Dutch, who had allied with the      a municipal corporation by combining the existing municipalities
Zamorins to conquer Kochi. By 1773, the Mysore King Hyder Ali        of Fort Kochi, Mattancherry, and Ernakulam. The government ap-
extended his conquest in the Malabar region to Kochi forcing it to   pointed a commission to study the feasibility of the suggested
become a tributary of Mysore. The hereditary Prime Ministership      merger. Based on its report, the Kerala Legislative Assembly ap-
of Kochi held by the Paliath Achans ended during this period.        proved the corporation’s formation. On November 01, 1967, ex-
                                                                     actly eleven years since the establishment of the state of Kerala,
Meanwhile, the Dutch, fearing an outbreak of war on the United       the corporation of Kochi came into existence. The merger lead-
Provinces signed the Anglo-Dutch Treaty of 1814 with the United      ing to the establishment of the corporation, was between the
Kingdom, under which Kochi was ceded to the United Kingdom           municipalities of Ernakulam, Mattancherry and Fort Kochi, along
in exchange for the island of Bangka. However, there are evi-        with that of the Willingdon Island, four panchayats (Palluruthy,
dences of English habitation in the region even before the sign-     Vennala, Vyttila and Edappally), and the small islands of Gundu
                                                                     and Ramanthuruth.
KOChi CiTy Overview                                               reAl esTATe perspeCTive                                           MAjOr lOCATiOns
•	 Kochi, formerly known as Cochin, is the commercial capital     •	 The city continues to grow horizontally towards the east       wiThin KOChi
   of Kerala and has been a centre for trade and commerce due        covering the suburbs of Kakkanad, Kalamassery, Aluva,
   to its strategic location.                                        Paravur, Nedumbassery and Perumbavur.

•	 Tourism has been a traditional driver of the Kochi economy.    •	 Commercial activity is gradually moving away from the
   The natural scenic beauty and the coastal backwaters have         Central Business District (CBD) towards Edapally and Ka-
   made it one of India’s top tourist destinations. Marketing        davanthra. Edapally is developing into a mall corridor with
   campaigns like ‘Incredible India’ and ‘God’s Own Country’         a series of malls being developed along the strip of the Na-
   have further helped marketing Kochi as a key tourist des-         tional Highway 47 (NH 47) bypass junction. Once com-
   tination.                                                         pleted, the malls are expected to change the dynamics of
                                                                     organised retail in the region.
•	 The city has various Public Sector Undertakings such as
   Kochi Refineries Ltd, International Pepper Exchange, Fer-      •	 On the flip side, the real estate market in Kochi is largely
   tilizers and Chemicals-Travancore. It also houses various         investor driven, primarily banking on the NRI’s working in
   companies such as Hindustan Machine Tools , Hindustan             the Middle East and the Western nations.
   Insecticides, Forest Industries of Travancore, Indian Alu-
   minium Company, Travancore Kochi Chemicals, Kerala Agro        •	 The property prices in Kochi had shot up in the past few
   Machinery Corporation etc.                                        years anticipating a boom in the IT/ITES sector. However
                                                                     there has been little progress on the proposed mega projects
•	 The economy of the city also depends on trade and retail ac-      leading to an oversupply situation in certain micro-markets.
   tivities. Major business areas include gold and textile, sea      This has further been compounded by the economic slow-
   food and spices export. The gradually developing services         down leading to a dip in the number of transactions during
   industry is also playing a key role in the changing dynamics      the last twelve to eighteen months.
   of the city.
                                                                  •	 A revival of the global market scenario and the moderation
•	 As in most parts of Kerala, remittance from abroad by Non         of property prices in the Kochi market is expected to help
   Resident Indians (NRI’s) is a major source of income.             revive the market scenario.




                                                                                                                                     Note:Map not to scale and is for illustration purposes only.
lisT OF seZs updATed As On OCTOber 2009
Port based SEZs at Puthuvypeen and Vallarpadom are expected to change the dynamics of port related activities in India. The
International Container Transshipment Terminal (ICTT) at Vallarpadom will be the largest single operator container terminal
planned in India and the first in the country to operate in a SEZ.

   S.      Name Of Developer                 Location                                        Type Of SEZ                       Area In
   No.                                                                                                                        Hectares
    1.    Infopark                           Kakkanad, Ernakulam                             IT/ITES                           30.768
    2.    Kerala Industrial Infrastructure   Kochi, Kerala                                   Electronics Industries            12.141
          Development Corporation
          (KINFRA)
    3.    Cochin Port Trust                  Puthuvypeen                                     Port Based                        285.84
    4.    Cochin Port Trust                  Vallarpadom,Fort Kochi Village, Ernakulam       Port Based                        115.25
    5.    TCG Urban Infrastructure Hold-     Thrikkakara North Village , Kanayannur Taluk,   Biotechnology                     12.141
          ings Ltd                           Ernakulam


Source: Ministry of Commerce & Industry,Dept. of Commerce


seZ ClAssiFiCATiOn As per usAGe
                      3%      3%

         7%




                                                                   87%
                                                                                                           PORT BASED
                                                                                                           IT/ITES
                                                                                                           BIOTECHNOLOGY
                                                                                                           ELECTRONICS INDUSTRIES
inFrAsTruCTure/indusTriAl                                                                                                                 •	 widening of nh-17: The Edapally-Muthakunnam stretch               From Vytilla, public transport systems can provide connec-
                                                                                                                                             of NH-17 will be widened into a four-lane road (30 meters         tivity with the western and eastern parts of the city, West
develOpMenT                                                                                                                                  wide). The road is being developed by the National High-          Kochi, and also regional hubs like Vypeen, Palarivattom,
                                                                                                                                             way Authority of India (NHAI) and would be operated on            Kakkanad, Thripunithura and Aroor. Vytilla is also well con-
•	 lnG Terminal, Kochi: A LNG terminal is being implemented              of the INR 2118 crore ICTT will be commissioned by June             a BOT basis. The 25 km Edapally-Muthakunnam stretch of            nected with National Highways 47, 17 and 49, the seaport
   by Petronet LNG Ltd, New Delhi at Puthuvypeen, Kochi. The             2010. At present 65% of the country’s container traffic is          NH-17 passes through thickly populated areas in Ernakulam         and the airport. The proposed metro rail passes through the
   project is for the supply of regasified natural gas to various        being transshipped through ports in neighbouring countries.         district like Cheranaloor, Koonammavu, Cheriapilly, North         junction and National Waterway III is located close by. By
   industries and power plants in the state. The terminal will           Once the ICTT projects starts operations, the country’s im-         Paravur and Chittatukara.                                         basing operations in Vytilla, the KSRTC and private buses
   be operational by the year 2012. The estimated cost of the            port and export industry will gain INR 6,000-INR 12,000 in                                                                            would be able to save huge amounts on fuel, apart from the
   project is INR 4000 crore.                                            each container.                                                  •	 Aerotropolis/Airport City: Cochin International Airport           time saved in not entering the city. Thus, the Vytilla mobility
                                                                                                                                             Ltd (CIAL) is planning to develop an aerotropolis through         hub has evolved as a natural remedy and is envisioned as a
•	 City Gas distribution project: The city gas distribution          •	 vallarpadam-edapally railway bridge: The Indian railways             a Special Purpose Vehicle (SPV) called Kochi Aerotropolis         long-term solution to Kochi’s transportation problems.
   project will be taken up by GAIL, BPCL and the Government            has completed the construction of the longest rail bridge in         Projects Ltd. The plan proposes to develop an entire satel-
   of Kerala for supplying compressed natural gas for automo-           its network, the 4.62 km Vallarpadam-Edapally Bridge. The            lite hub comprising houses, offices, factories, hotels, leisure
   bile and piped natural gas for domestic use. A Memoran-              bridge connects the proposed International Container Trans-          etc. The proposed project spanning 450-acres will serve the
   dum of Understanding (MOU) has been signed between                   shipment Terminal (ICTT) at Vallarpadam with Edapally, a             airport and vice versa.
   BPCL & GAIL for forming a joint venture company. The es-             8.86 km rail-link.
   timated cost of the project is INR 400 crore. The city gas                                                                             •	 Mobility hub/Transport Terminal hub at vytilla: The State
   distribution terminal shall be synchronised with the Kochi        •	 Kochi Metro: The Kerala Government is initiating the com-            government is considering a city mobility project that has
   LNG Terminal.                                                        missioning processes for implementing Kochi Metro Rail on            been prepared with Vytilla as the hub. The project aims at
                                                                        a Build-Operate-Transfer (BOT) basis. The Kochi Metro Rail           solving a good share of commuting problems in the city by
•	 electronics hub at Kochi: Kerala State Industrial Develop-           Corporation has proposed a route spanning 25.253 km from             creating amenities in and around the Vytilla Junction, by in-
   ment Corporation (KSIDC) has initiated steps for setting up          Petta to Aluva, with 26 stations enroute. The alignment              tegrating different modes of transport like roadways, metro
   an electronic Hub at Kochi. The proposed Electronic Hub              for the project was created by Delhi Metro Rail Corpora-             rail, railways and waterways.
   would be developed in 500 acres of land, offering world              tion (DMRC) and is planned to be made on a Public-Private
   class facilities for manufacturing, contract manufacturing,          Partnership (PPP) basis. The nodal agency for the project is           The Agriculture Department and Kerafed own 25 acres of
   R&D and fabricating units in the electronic sector. The hub          KINFRA, Kochi. Kochi Metro Rail Corporation will operate               land near the junction and this is ideal to host the mobility
   would house companies in the semiconductors and elec-                the project. The DMRC has also submitted a proposal for                hub where long-distance buses and KSRTC services can
   tronic components sector, including their manufacture, re-           the metro rail project to be extended till the Kochi Interna-          be based. There would be space to park 220 buses, 900
   search and development, design, etc. The land acquisition            tional Airport ,at Nedumbassery.                                       cars and 120 auto rickshaws. A shopping mall, food courts,
   procedure has been initiated.                                                                                                               cultural centre, hotel, swimming pool, waterfront and boat
                                                                     •	 widening of roads: The proposed metro rail project would               jetty too can be set up.
•	 international Container Transshipment Terminal, Kochi:               require widening of roads along certain corridors to facilitate
   The International Container Transshipment Terminal (ICTT),           smooth vehicular traffic. Some of the arterial roads are:
   Kochi at Vallarpadam will be the largest single operator con-         •	 Banerjee Road and North road overbridge would have
   tainer terminal currently planned in India and the first in the          to widened into four-lanes.
   country to operate in a Special Economic Zone (SEZ). The
   new terminal will make Kochi a key centre in the shipping             •	 The approach road to Ernakulam Junction station and
   world reducing India’s dependence on foreign ports to han-               the Salim Rajan Road too would be widened.
   dle transshipment. The project is being funded by DP world,
   a subsidiary of the government of Dubai owned, ‘Dubai                 •	 MG Road, the SA Road and the Vytilla-Thripunithura
   World’ through non-recourse debt funding. The first phase                road would be widened to four-lanes.
 OrGAnised reTAil develOpMenT                                                                                                                         SuppLy Of RESIDENTIAL uNITS COmINg up                                       DISTRIbuTION Of RESIDENTIAL SuppLy
 The upcoming malls are expected to change the dynamics of organized retail in Kochi. A majority of the upcoming malls are located                    by THE JuNE 2012                                                            IN KOCHI (NO. Of uNITS)
 along North-East Kochi. Details of various malls are tabulated below:                                                                                Kochi would experience an influx of over 24 million of residential
                                                                                                                                                      space by the June 2012, with approx. two-third of the supply
                  S.No              Name of the mall            Location                  Zone          Total Area in million   Status                concentrated in North East Kochi.
                                                                                                           sq.ft. (Approx)      (as on Jan 2010)        Zone      Apartment Type            Average      No. Of     Total Area
                         1.         Abad Nucleus                Maradu                    South East           0.125            Under Construction                                          Size of a    units      (in million
                                                                                                                                                                                                                                                                                  11%
                         2.         Admiral Plaza               Palarivattom              North West            0.07            Under Construction                                          unit (in                   sq.ft.)                     14%
                         3.         Aerens Gold Souk Mall       Vytilla                   South East            0.45            Operational shortly                                          sq.ft.)

                         4.         Bay Pride Mall              Marine Drive, Kochi       South West           0.042            Operational                      1 BHK                        530           6         0.003                                                                    6%
                                                                                                                                                       South     2 BHK                       1192         421         0.501
                         5.         DLF Mall                    Marine Drive              South West            N/A             Proposed
                                                                                                                                                       East
                         6.         Grand Mall                  Edapally                  North East            0.13            Under Construction               3 BHK                       1638         1151         1.88
                         7.         Heera Mall                  Edapally                  North East           0.372            Under Construction               4 BHK                       2384         112         0.267
                         8.         Lulu Mall                   Edapally                  North East            2.0             Under Construction               Row Houses/Villas           2284          51         0.116
                         9.         Metro One                   Kaloor                    North West            N/A             Under Construction                                           Total        1741        2.767
                         10.        Oberon Mall                 Edapally                  North East            0.35            Operational            South     1 BHK                        750           4         0.003
                                                                                                                                                       West      2 BHK                       1225          46         0.056
                         11.        Prestige Forum Mall         Maradu                    South East            1.07            Under Construction
                         12.        Q 1-Nippon Infra Projects   NH-47 Bypass              North East            0.12            Under Construction               3 BHK                       1802         788          1.42
                         13.        Sobha Hi-tech CityMall      Maradu                    South East            N/A             Proposed                         4 BHK                       2868         132         0.378
                         14.        Summit Mall                 M.G.Road, Kochi           South West            0.45            Under Construction                                           Total        970         1.857
                                                                                                                                                       North     1 BHK                        600         543         0.325                                                             69%
 Source : ICICI Property Services Research                                                                                                             East      2 BHK                       1150         3557         4.09
 The above represents some of the key developments and is not the universe
                                                                                                                                                                 3 BHK                       1600         6808        10.89
 MAll spACe disTribuTiOn in KOChi                                                                                                                                4 BHK                       2130         122         0.259
                              3.5                                                                                                                                                                                                                             SOUTH EAST
                                                                                                                                                                 Row Houses/Villas           2555         197         0.503
                               3                                                                                                                                                                                                                               SOUTH WEST
                                                                                                                                                                                             Total       11,227       16.06
AREA IN MILLION SQ.FT.




                              2.5                                                                                                                      North     1 BHK                        575          66         0.038                                   NORTH EAST
                                                                                                                                                       West      2 BHK                       1225         429         0.525                                   NORTH WEST
                               2
                              1.5                                                                                                                                3 BHK                       1695         1472        2.495
                                                                                                                                                                 4 BHK                       2400         128         0.307
                               1                                                                       UNDER CONSTRUCTION
                                                                                                                                                                 Row Houses/Villas           2220         110         0.244
                              0.5                                                                      OPERATIONAL
                                                                                                                                                                                             Total        2205        3.609       Source: ICICI Property Services
                               0                                                                                                                       Total supply expected by june 2012                16.143      24.293       The above represents some of the key developments and not the universe
                                        SOUTH          SOUTH        NORTH         NORTH
                                         EAST          WEST          EAST         WEST                                                                Source : ICICI Property Services.
                                                                                                                                                      The above represents some of the key developments and not the universe
SOuTH EAST KOCHI                                                  RESIDENTIAL mARKET IN SOuTH EAST KOCHI
Major locations: Kadavanthra, Vytilla, Panampilly Nagar, Jawa-
                                                                   Average Apartment Size of 1 BHK in sq.ft.                     530
har Nagar, Vytilla-Edappally Bypass, Chilavannur, Tripunithura,
Maradu                                                             Average Apartment Size of 2 BHK in sq.ft.                    1192
                                                                   Average Apartment Size of 3 BHK in sq.ft.                    1638
•	 Tripunithura is a prominent center for learning of classi-
                                                                   Average Apartment Size of 4 BHK in sq.ft.                    2384
   cal arts and musical instruments. This belt houses certain
   prominent institutes such as RLV College of Music and In-       Average Apartment Size of Row Houses/Villas                  2284
   stitute of Fine Arts. The center for learning, Kalamandalam     Total Supply (in million sq.ft.) by June 2012                2.767
   is also present in Tripunithura.
                                                                   Total Supply (in no. of units) by June 2012                  1741
•	 The strip between the bye pass junction, Edapally and Aroor    Source : ICICI Property Services
   is evolving into a major business hub with large retail for-   Note : The areas mentioned are super built up areas
   mats, showrooms and hotels located in this belt. Outlets
   of Mercedes, Hyundai and Maruti etc. are located on this       DISTRIbuTION Of ApARTmENT TypE:
   belt.
                                                                  SOuTH EAST KOCHI
•	 The proposed transport hub at Vytilla would help decon-
   gest city traffic and aid in channelising transport services                              6%         3%
   in Kochi. The proposed terminus is expected to bolster the
   real estate prospects in this region.                                                                                     24%

•	 Panampily Nagar and Jawahar Nagar are well developed
   residential layouts, which command a premium. The prices
   have remained fairly stable in this region during the last
   twelve months.

•	 Maradu is witnessing large-scale developments with vari-
   ous residential complexes and malls being developed in the
   region.



                                                                        67%




                                                                              1BHK             2BHK             3BHK            4BHK

                                                                  The above represents some of the key developments and not the universe
                                                                  Source : ICICI Property Services
SOmE Of THE RESIDENTIAL pROJECTS IN SOuTH EAST KOCHI                                                                                                  pROpERTy pRICE mOVEmENT INDEx: SOuTH EAST KOCHI (mARCH 2005-DECEmbER 2009)
                                                                                                                                                           350
  Name of the project              Developer                         Approximate Capital             No. of units         Expected Date of
                                                                                                                                                           300
                                                                   Values (Rs./sq.ft.) as on                              Completion
                                                                         march 2010                                                                        250
 Daffodil Gardens                  Abad Builders                             2200                         39             Completed                         200
 Heera Royale                      Heera Homes                               2600                         88             May-2010                          150
 Kings Court                       SRK Group                                 2200                         96             December-2011                     100
 Kingdom                           SFS Homes                                 2650                         70             December-2010                      50
 Plum Flower                       Mather Projects                           3000                         40             Completed                                Mar 05 Mar 06 Mar 07 Jun 07 Sep 07 Dec 07 Mar 08 Jun 08 Sep 08 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10
 Palm Grove                        Kent Constructions                        3100                         96             December-2010                                                Kadavanthra                            Vytila                           Panampilly Nagar
 Santi Arthanat                    Santi Homes                               2750                         68             June-2012                                                    Vytilla- Edapally Byepass              Jawahar Nagar                    Chilavannur
 Silverstone                       Desai Homes                               1850                        188             N/A
                                                                                                                                                      Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)

Source: ICICI Property Services
*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.
                                                                                                                                                      COmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENT
Rates mentioned above are subject to change at any given point of time
                                                                                                                                                      The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison be-
                                                                                                                                                      tween quarterly property price movements and changes in consumer price index for South East Kochi. Since zone wise inflation data
RESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of SOuTH EAST KOCHI                                                                           is not available we have substituted the Kochi inflation figures for each zone.

  Location                           Average Rates (Rs./sq.ft.)         Average Rentals for 2 bHK (Rs./month)                   market Outlook
                                                                                                                                                           350
                                                                                                                                                           300
 Chilavannur                                2750-3250                                  4000-6000                                       S
                                                                                                                                                           250
 Jawahar Nagar                              3500-4500                                 8000-10000                                       S
                                                                                                                                                           200
 Kadavanthra                                2500-3000                                  6000-8000                                      SS                   150
 Panampilly Nagar                           3500-4500                                 8000-12000                                       S                   100
 Tripunithura                               2300-2600                                  3000-5000                                      SS                     50
 Vytilla                                    2400-2800                                  5000-7000                                      SS                           Mar      Mar      Mar        Jun    Sep       Dec     Mar      Jun     Sep     Dec   Mar      Jun     Sep     Dec   Mar
                                                                                                                                                                   05       06       07         07      07        07     08       08       08      08   09       09       09      09   10
Source: ICICI Property Services
*Rates mentioned are based on Built-up area & are subject to amenities, upkeep and may vary from apartment to apartment within the same building.                        South East ( Actual)                South East ( R&L)
Rates mentioned above are subject to change at any given point of time
                                                                                                                                                      As above graph indicates, the property prices in South East Kochi have been increasing more than proportionately than the consumer
Outlook Key                                                                                                                                           price index, and till recently, the trend seems to continue.
 R- Rising         F- Falling         S- Stagnant          SW- Stagnant but likely to weaken                SS- Stagnant but likely to strengthen
SOuTH WEST KOCHI                                                     DISTRIbuTION Of ApARTmENT TypE:
Major locations: M.G Road, Chitoor Road, Marine Drive, Ayya-         SOuTH WEST KOCHI
pankavu, Banerji Road, Thevara
                                                                                                         5%
•	 This region forms the Central Business District (CBD), hous-                   14%
   ing the traditional business areas like M.G Road, Market
   Road, T.D.Road, Broadway and Chitoor Road. The region
   has witnessed a lull of fresh supply in the recent past, due
   to a lack of quality space. This belt continues to command
   a premium.

•	 Marine drive, built along the backwaters is a prominent
   tourist attraction. It is an economically thriving area and has
   several shopping malls and commercial spaces. The ‘Walk-
   away’ is a hotspot for tourists and locals alike.

•	 Projects of certain prominent developers are present along
   the Marine Drive area commands the highest rate per sq.ft.
   An additional premium is charged for waterfront proper-
   ties.

RESIDENTIAL mARKET IN SOuTH WEST KOCHI
                                                                                                        81%
 Average Apartment Size of 1 BHK in sq.ft.                750
 Average Apartment Size of 2 BHK in sq.ft.               1225
                                                                                  2BHK
 Average Apartment Size of 3 BHK in sq.ft.               1802
                                                                                  3BHK
 Average Apartment Size of 4 BHK in sq.ft.               2868
 Total Supply (in million sq.ft.) by June 2012           1.857                    4BHK
 Total Supply (in no. of units) by June 2012              970
                                                                     Source : ICICI Property Services
Source : ICICI Property Services
Note : The areas mentioned are super built up areas
SOmE Of THE RESIDENTIAL pROJECTS IN SOuTH WEST KOCHI                                                                                                  pROpERTy pRICE mOVEmENT INDEx: SOuTH WEST KOCHI (mARCH 2005-DECEmbER 2009)
                                                                                                                                                      350
  Name of the project              Developer                            Approximate                  No. of units        Expected Date of
                                                                  Capital Values (Rs./sq.ft.)                            Completion                   300
                                                                     as on march 2010                                                                 250
 Bougan Villa                      Chakolas                                 5500                          24             May-2010                     200
 East Thottekkat                   Asset Homes                              5500                          27             May-2010                     150
 Neptune Courtyard                 Prestige Group                           5500                         366             N/A                          100
 Purva Grandbay                    Puravanakara                             4300                         265             March-2011                     50
 Santi Sreyas                      Santi Homes                              5500                          16             December-2010                       Mar 05 Mar 06 Mar 07 Jun 07 Sep 07 Dec 07 Mar 08 Jun 08 Sep 08 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10
 Santi Seaview                     Santi Homes                              3500                          30             December-2010
                                                                                                                                                                                 M G Road             Chittoor Road            Marine Drive             Ayyappankavu      Thevara
Source: ICICI Property Services                                                                                                                       Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)
*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.
Rates mentioned above are subject to change at any given point of time
                                                                                                                                                      COmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENT
RESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of SOuTH WEST KOCHI                                                                           The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison be-
                                                                                                                                                      tween quarterly property price movements and changes in consumer price index for South West Kochi. Since zone wise inflation data
  Location                           Average Rates (Rs./sq.ft.)          Average Rentals for 2 bHK (Rs./month)                  market Outlook        is not available we have substituted the Kochi inflation figures for each zone.
 Ayyappankavu                               2250-2750                                  4000-6000                                        S              350
 Banerji Road                                   N/A                                        N/A                                          S              300
 Chitoor Road                                   N/A                                  10000-12000                                        S              250
 Marine Road                                5500-6500                                15000-20000                                        S              200
 M.G. Road                                      N/A                                        N/A                                          S              150
 Thevara                                    3000-4000                                 7000-10000                                       SS              100
                                                                                                                                                        50
Source: ICICI Property Services                                                                                                                                 Mar       Mar     Mar      Jun      Sep       Dec      Mar      Jun      Sep      Dec      Mar    Jun   Sep   Dec    Mar
*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.
Rates mentioned above are subject to change at any given point of time                                                                                          05        06      07       07        07        07      08       08        08       08      09     09     09    09    10

Outlook Key                                                                                                                                                           South West(Actual)               South West ( R&L)
 R- Rising         F- Falling         S- Stagnant          SW- Stagnant but likely to weaken                SS- Stagnant but likely to strengthen     The residential prices in South West Kochi have increased at a pace double that of the real and logical price rise as is evident from the
                                                                                                                                                      above chart.
NORTH EAST KOCHI                                                    RESIDENTIAL mARKET IN NORTH EAST KOCHI
Major locations: Edapally, Kalamassery, Chembumukku, Va-
                                                                     Average Apartment Size of 1 BHK in sq.ft.               600
zhakkala, Kakkanad, Vennalla
                                                                     Average Apartment Size of 2 BHK in sq.ft.               1150
•	 The bypass junction off Edapally is developing as a mall cor-     Average Apartment Size of 3 BHK in sq.ft.               1600
   ridor, with various malls under construction in this belt. The    Average Apartment Size of 4 BHK in sq.ft.               2130
   Lulu Hypermarket, an INR 1200 crore venture, which hous-
                                                                     Average Apartment Size of Row Houses/Villas             2555
   es a multiplex, hypermarket, hotel and an airlines tower is
   being built on an 18-acre plot off the Edapally junction. The     Total Supply (in million sq.ft.) by June 2012          16.06
   project would have a total built-up area of approximately 2       Total Supply (in no. of units) by June 2012            11,227
   million sq.ft.
                                                                    Source : ICICI Property Services
                                                                    Note : The areas mentioned are super built up areas
•	 Kalamassery has various industries manufacturing chemi-
   cals and fertilizers, as well as IT Companies. Companies like
   Apollo Tyres and HMT factory are present in this region.         DISTRIbuTION Of ApARTmENT TypE:
                                                                    NORTH EAST KOCHI
•	 Kakkanad houses various government buildings including
   the Civil Station, a district panchayat, the Kochi High Power                                1% 2% 5%
   Transmitter, Infopark, The Kochi Special Economic Zone
   (CSEZ) and the Airmen Selection Board.

•	 Several major projects like the ‘Smart City’ and ‘Fashion
   City’ are proposed in this region. This has led to various                                                               32%
   builders venturing into the Kakkanad belt. However Kak-
   kanad today is witnessing an oversupply situation, with a
   moderation of property prices witnessed in the last twelve
   months.

•	 The campuses of The Cochin University of Science and Tec-          60%
   hnology and the Model Engineering College are located at
   Thrikkakara.



                                                                              1BHK             2BHK            3BHK       4BHK
                                                                             ROW HOUSES/VILLAS

                                                                    Source : ICICI Property Services
SOmE Of THE RESIDENTIAL pROJECTS IN NORTH EAST KOCHI                                                                                                  pROpERTy pRICE mOVEmENT INDEx: NORTH EAST KOCHI (mARCH 2005-DECEmbER 2009)
  Name of the project              Developer                         Approximate Capital Values         No. of units      Expected Date of               350
                                                                          (Rs./sq.ft.) as on                              Completion
                                                                            march 2010                                                                   300

 Berry Woods                       Mather Projects                               2650                       172          March-2012                      250

 Confident Auriga III              Confident Group                               2100                       408          December-2011                   200
 Eternia                           SFS Homes                                     3500                        86          Completed                       150
 Galaxy Greens                     Galaxy Homes                                  2500                       120          N/A                             100
 Green Metropolis                  MIR Realtors                               2500-4000                     380          June-2011
                                                                                                                                                           50
 Ivy League                        Skyline Builders                              2590                       416          N/A                                     Mar 05 Mar 06 Mar 07 Jun 07 Sep 07 Dec 07 Mar 08 Jun 08 Sep 08 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10
 Nagarjuna Laurel                  Nagarjuna Constructions                       2400                       104          June-2010
                                                                                                                                                                                        Edapally                  Kakkanad                    Kalamassery                    Vazhakkala
 New Town Heights                  DLF Homes                                     2500                      1600          December-2011 onwards
                                                                                                                                                      Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)
 Orchid Meadows                    Manjooran Housing                             2750                       108          N/A
 Purva Eternity                    Puravanakara                                  2290                       600          June-2010                    COmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENT
 RDS Rhythm                        RDS Projects                                  2700                        48          N/A
                                                                                                                                                      The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property
 Orchid Meadows                    Manjooran Housing                             2750                       108          N/A                          price movements and changes in consumer price index for North East Kochi. Since zone wise inflation data is not available we have substituted the Kochi
                                                                                                                                                      inflation figures for each zone.
Source: ICICI Property Services
*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.       350
Rates mentioned above are subject to change at any given point of time                                                                                    300

RESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of NORTH EAST KOCHI                                                                               250
                                                                                                                                                          200
  Location                              Average Rates (Rs./sq.ft.)          Average Rentals for 2 bHK (Rs./month)               market Outlook            150

  Chembumukku                                  2250-2500                                       N/A                                      S                 100

  Edapally                                     2750-3250                                 6000-10000                                    SS                   50
                                                                                                                                                                   Mar       Mar      Mar      Jun      Sep      Dec       Mar       Jun      Sep      Dec       Mar      Jun      Sep       Dec      Mar
  Kakkanad                                     2200-2700                                  6000-8000                                   SW
                                                                                                                                                                   05         06       07      07        07       07        08       08       08        08       09        09       09       09        10
  Kalamassery                                  2000-2300                                  3000-5000                                   SW
                                                                                                                                                                         North East(Actual)                    North East ( R&L)
  Vazhakkala                                   2250-2500                                  6000-8000                                   SW
                                                                                                                                                      As observed from the graph, the belt witnessed a steep hike in property prices during the past years, however the last few quarters have witnessed a modera-
  Venalla                                      2300-2600                                  4000-6000                                     S             tion in property prices. The prices continue to remain higher compared to the real and logical prices.

Source: ICICI Property Services
*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.
Rates mentioned above are subject to change at any given point of time
Outlook Key
 R- Rising         F- Falling         S- Stagnant          SW- Stagnant but likely to weaken                SS- Stagnant but likely to strengthen
NORTH WEST                                                         RESIDENTIAL mARKET IN NORTH WEST KOCHI
Major locations: Kaloor, Elamakkara, Palarivattom, Pottakuzhi,
                                                                    Average Apartment Size of 1 BHK in sq.ft.                    575
Kathirikadavu, Aluva.
                                                                    Average Apartment Size of 2 BHK in sq.ft.                    1225
•	 This region houses the famous Jawaharlal Nehru Interna-          Average Apartment Size of 3 BHK in sq.ft.                    1695
   tional stadium at Kaloor.                                        Average Apartment Size of 4 BHK in sq.ft.                    2400
                                                                    Average Apartment Size of Row Houses/Villas                  2220
•	 Areas like Kaloor and Palarivattom, with their proximity to
   the CBD, presence of relatively developed residential facili-    Total Supply (in million sq.ft.) by June 2012                3.609
   ties and proposed organized retail developments have pro-        Total Supply (in no. of units) by June 2012                  2205
   pelled the real estate market scenario over the years.
                                                                   Source : ICICI Property Services
•	 Aluva, which forms a part of the Kochi Metropolitan area        Note : The areas mentioned are super built up areas
   is one of the industrialised towns. It forms a transit point
   for four towns-Angamaly, Kalamassery, North Paravur and         DISTRIbuTION Of ApARTmENT TypE:
   Perumbavoor. Its proximity to the Kochi International Airport
   at Nedumbassery and excellent connectivity to the CBD/          NORTH WEST KOCHI
   industrial areas have driven real estate development in this                              5%       3%
   region during the past few years.
                                                                                 6%                                      19%




                                                                                                                           67%



                                                                             1BHK           2BHK           3BHK           4BHK

                                                                             ROW HOUSES/VILLAS

                                                                   Source : ICICI Property Services
SOmE Of THE RESIDENTIAL pROJECTS IN NORTH WEST KOCHI                                                                                                  pROpERTy pRICE mOVEmENT INDEx: NORTH WEST KOCHI (mARCH 2005-DECEmbER 2009)
  Name of the project              Developer                         Approximate Capital Values         No. of units      Expected Date of                350
                                                                          (Rs./sq.ft.) as on                              Completion                      300
                                                                            march 2010
                                                                                                                                                          250
 Aqua Breez                        Abad Builders                                 2700                       72           June-2011
 Aqua Greens                       SFS Homes                                     2450                       143          May-2010                         200

 Imperial Gardens                  Skyline Builders                              3500                       302          December-2011                    150
 Oxford Symphony                   Kishore Kumar Gokuldas                        2550                       48           N/A                              100
 PVS Iris                          PVS Apartments                                2100                       74           N/A
                                                                                                                                                           50
 Serenade                          Mather Projects                               3500                       20           September-2010                          Mar 05 Mar 06 Mar 07 Jun 07 Sep 07 Dec 07 Mar 08 Jun 08 Sep 08 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10
 Woodstock                         Olive Builders                                3800                       112          N/A
                                                                                                                                                                                                     Kaloor                            Elamakkara                         Palarivattom
                                                                                                                                                                                                     Pottakuzhi                        Kathirikadavu
Source: ICICI Property Services
*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.   Source: ICICI HFC Mortgage Valuation (Assuming 100 as a base reference no for March 2005)
Rates mentioned above are subject to change at any given point of time

RESIDENTIAL pROpERTy RATES IN pRImE RESIDENTIAL mARKETS Of NORTH WEST KOCHI                                                                           COmpARISON Of ACTuAL (A) AND REAL & LOgICAL (R&L) pRICE mOVEmENT
                                                                                                                                                      The real & logical (R&L) price is considered to move in line with the consumer price index. Below chart brings out a comparison between quarterly property
  Location                             Average Rates (Rs./sq.ft.)           Average Rentals for 2 bHK (Rs./month)               market Outlook        price movements and changes in consumer price index for North West Kochi. Since zone wise inflation data is not available we have substituted the Kochi
                                                                                                                                                      inflation figures for each zone.
 Aluva                                         2000-2500                                 5000-7000                                     SS
 Elamakkara                                    2400-2700                                 4000-6000                                     S                  350
 Kaloor                                        3000-3500                                 6000-10000                                    SS                 300
 Kathitrikadavu                                2500-3000                                 7000-9000                                     S                  250

 Palarivattom                                  3000-3500                                 6000-10000                                    SS                 200
                                                                                                                                                          150
Source: ICICI Property Services                                                                                                                           100
*Rates mentioned are based on Built-up area and are subject to amenities, upkeep and may vary from apartment to apartment within the same building.        50
Rates mentioned above are subject to change at any given point of time                                                                                            Mar       Mar       Mar       Jun       Sep        Dec      Mar      Jun      Sep       Dec       Mar       Jun      Sep       Dec       Mar
Outlook Key                                                                                                                                                        05        06        07       07         07         07      08       08        08        08       09        09        09        09       10

 R- Rising         F-Falling          S- Stagnant          SW- Stagnant but likely to weaken                SS- Stagnant but likely to strengthen                         North West(Actual)                      North West(R&L)


                                                                                                                                                      The residential prices in North West Kochi have increased at a pace double that of the real and logical price rise, as is evident from the above chart.
LOCATION ATTRACTIVENESS INDEx                                                                                                                RESEARCH AND CONSuLTANCy
We have short-listed eight prime locations within Kochi and critically examined them on various parameters like infrastructure, residen-     ICICI Property Services is a division of ICICI Home Finance Company Limited, a 100% subsidiary of ICICI Bank. ICICI PSG provides real
tial costs in the region, future employment prospects, etc. as detailed in the matrix below. Vytilla and Maradu seems to be scoring well     estate solutions to home seekers, corporate investors, space occupiers and developers/landlords. ICICI Property Services addresses
over other locations due to reasonable residential costs in addition to good infrastructure, proximity to commercial and retail establish-   the entire bandwidth of a real estate deal from concept to conclusion. Research & Consultancy (R&C), a specialised group within ICICI
ments and future infrastructure development. Aluva is also developing as a good alternative destination for value buyers, who wish to        PSG, offers both real estate advisory and consumer demographic analysis backed by both primary & secondary research. The following
remain connected with the city centre.                                                                                                       chart explains in brief the various services offered by R&C.

                                                                                                                                                feasibility Studies                    Asset Advisory                          Strategic Advisory                    market Research
                                       Marine
                        M.G Road                      Vytilla       Maradu        Kakkanad       Edapally        Kaloor        Aluva
                                       Drive
                                                                                                                                             • Location Analysis                    • Optimum Land Use Analysis             • Entry Strategy                       • Supply Estimation

     Infrastructure                                                                                                                          • Market Analysis                      • Site Analysis & SWOT                  • Pricing Strategy                     • Demand Projections
     (connectivity,
  roads, proximity to                                                                                                                        • Size, Pricing, Phasing and Posi- • Catchment Analysis                        • City and Region Prioritisation and   • Expected Absorption Trends
   markets, schools)                                                                                                                           tioning (Space Programming &                                                    Expansion Strategy
                                                                                                                                               Demarcation for Optimum Utilisa- • Trande & Tenant Mix                                                              • Demographic Analysis
                                                                                                                                               tion of space)
   Residential Cost                                                                                                                                                             • Land Valuation                                                                   • Consumer Trends
                                                                                                                                             • Financial Analysis
                                                                                                                                                                                                                                                                   • Consumer Behaviour Analysis

  Proximity to/Pres-                                                                                                                         DISCLAImER
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        Retail                                                                                                                               providing our views on current market trends.                                     will prove to be accurate. ICICI HFC Ltd. does not accept any responsi-
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