Investing in Thrissur Real Estate: What You Need to Know

Thrissur is known for its historical and cultural significance in Kerala. The town is the seat of worship attracting thousands of devotees from the world over during the Thrissur Pooram festival every year. It is also known for its scenic natural beauty and ancient monuments. The city has been a hub for finance and gold manufacturing in Kerala since ancient times. Over the past few years, Thrissur has gained attention as an IT hub too. The infrastructure development enhancing road and rail networks, healthcare facilities and education have made Thrissur a hub for real estate development. In this blog, we will look at important factors to consider before investing in the Thrissur real estate market.

1. Research

Investors seeking good returns on their investment cannot undermine the importance of research. Understanding the real estate market, growth potential, external influences on the property market and the prominent developers will help make the right choices. This knowledge can be useful in forming an investment strategy with the ultimate goal of earning good returns on their investments.

2. Location

Location is the most important aspect of real estate investment that decides its success. Thrissur has several key locations suitable for real estate investment. These are high-growth localities with proximity to essential services, IT hubs, and places with upcoming infrastructural development with the potential for new projects to develop.

Some locations are:

Poonkunnam

The location has excellent connectivity, sound social infrastructure, and excellent projects by leading developers making it ideal for long-term real estate investments

Kuriachira

Kuriachira is a prominent residential location in Thrissur. It is well connected to the city with all the required necessities.

Thiroor

Thiroor is a well-known residential locality in Thrissur. It has peaceful and serene surroundings with many upcoming luxury residential projects.

3. Property Type

Residential properties come in various configurations. Further, properties can be classified into affordable, mid-segment, and premium segments depending on their pricing and amenities. Investors need to know which property type and configuration is best for them depending on their investment strategy and funds. Properties coming under mid-segment & premium segments have higher investment returns as they have good demand for rentals and good resale value.

4. Budget

Investing in real estate is a capital-intensive exercise. Investors need to have their finances in place before deciding to invest. They need to factor in additional expenses other than the property price. If you are applying for a loan then you must have a good credit score. It helps if you are preapproved as many projects in Thrissur have tie-ups with the bank. All major government and private banks are present in Thrissur offering home loans at competitive rates.

These are the most important factors to know before investing in Thrissur real estate.