Comprising of hills, backwaters, greenery, and a stunning coastal line, Kerala earned its name as God’s own country due to its beautiful landscape. The serene landscape and the traditional lifestyle followed here are a major tourist attraction, making tourism one of the most significant sources of income for Kerala. Major cities in Kerala have seen urbanization as well as a steady growth in the tourism sector. Kerala is known to draw tourists from around the world, which is also advantageous for the real estate market. Tourism and real estate market go hand-in-hand as one is co-dependent on the other. Tourist attractions and the presence of other facilities prompt people to have a comfortable stay, and it may also encourage people to settle in this state. In order to provide the required infrastructure, real estate must be enhanced to match global standards. Apart from this, real estate, whether it be flats or independent homes contribute extensively to the economy of the state.
The real estate sector promotes the development of the urban areas which helps people balance their work and personal life. Off late, Calicut as a district has been witnessing a steep growth in tourism development in the past two years. During the middle ages, Kozhikode was known as the “city of spices” as it was a major trading point for Indian spices by domestic and foreign traders. Kozhikode has witnessed major historical events and trades. Today, the metropolitan area of Calicut is considered as the second largest urban agglomeration in Kerala.
On July 2018, state tourism minister Kadakampally Surendran reiterated on the importance of responsible tourism and to help the public gain from the same. The state government is focusing more on the rural areas where they could conduct adventure sports for visitors and locals alike. Vayalada hill station, also known as “Ooty of Malabar” is a major attraction because of the steep rocks, streams, and the presence of elegant looking butterflies. The state tourism minister also opened South Beach, one of the first places in Kozhikode which was developed following the foreign tourist standards, to attract both local and foreign tourists. The minister also inaugurated Nambikulam, a hilly destination, and an eco-tourism project.
In the past two years, the tourism sector in Calicut has been getting a boost as about Rs.63 crores have been invested in 19 tourism projects. Tourism sector impacts the real estate market and their investors positively. These tourism projects will make the district more desirable, hence also encouraging the development of infrastructure. Recognizing the importance of the development in Calicut, Confident Group has been contributing to the real sector by constructing flats in Calicut.
Better infrastructure provides residents an opportunity to upgrade to a better lifestyle and changes the cityscape making it more in sync with the global standards. Providing better infrastructure around tourist hotspots will increase visibility of the buildings benefitting the investors financially and also helping tourists by providing them with good infrastructure to rely on. Many tourists prefer to stay in holiday homes as compared to hotels as it is more economic and ideal for longer stays, hence, if one aspires to convert their homes or build holiday homes to cater to tourists, this can be done too.
Keeping all these points in mind, investing in real estate in Calicut can be extremely beneficial. Also, with the way the infrastructure is developing, Calicut could become a major urban hub in Kerala. Now would be a great time to invest in this rapidly growing district of Kerala.
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