Alappuzha
Little, old villas go for high prices in Alappuzha district, as tourists love to stay in
such homes. Property prices are on the rise here, as the backwaters and lush lands spice up the fortunes of the real-estate market. If nature decides the
fortunes of real estate, then, no wonder, land in Alappuzha is hot property. Over the last few months, nature has been generous in propping up the fortunes
of property developers. An unprecedented boom in property prices was witnessed across the district.
Property prices rise
The natural beauty, which found Alappuzha a place on the tourism map, decides
property prices as well. Waving photographs of lush green land, most of them with a frontage of the famous backwaters, property dealers and owners celebrate,
as prices have jumped from Rs. 500 a cent (100 cents make an acre or 0.4 hectare) six to seven years ago to Rs. 40,000 and even more now.
Classic
examples of the boom are seen on the shores of the idyllic backwaters. Five years ago, a property dealer bought land measuring a quarter of a hectare near
the H Block of Kuttanad at Rs. 500 a cent. He sold the plot in March this year at Rs. 40,000 a cent.
The drive against encroachments on Government land
and backwater shores has dealt a blow, though a minor one, to the sector. Property developers say those who have clean documents have nothing to fear. The
buyer should ensure that the documents are not forged.
Most buyers have commercial interest while buying land in and around Alappuzha, mainly in
Kuttanad and surroundings, courtesy the tourism potential. If the land has a quaint little house, they are over the moon, because such properties can be
converted into home-stays and resorts.
Tourist attractions
Tourists looking for a short stay,
with an eye on experiencing the traditional Kerala and homely food, have played a crucial role in fuelling the boom. Staying in such houses are cheaper than
in star hotels and big resorts. The houses require slight modifications, sometimes in the form of an air-conditioner and other modern facilities, to be
thrown open to tourists. But the traditional look of the house should be undisturbed.
Spiral staircases, curvy balustrades, antique furniture, giant
creaky doors with brass knobs and locks and alluring scenery, sometimes with a small open hut perfect for an afternoon siesta added to the premises, attract
tourists to the ancient bungalows and houses, which stand up as the USP of Alappuzha’s real- estate sector.
Traditional mini-bunglows
For sale on the Alappuzha-Changanassery side are traditional mini-bungalows with a view of the river on one
side and paddy fields on the other. A bungalow at Pallikkuttumma on
AC
Road
, on 82 cents of land, has the price pegged at Rs.1 crore.Either sides
of the National Highway 47 stretch from Aroor (barely a 10-minute drive from
Kochi
) to Alappuzha and Kayamkulam are turning hot property.
While
roadside land is bought for showrooms, areas such as Vandanam, Punnapra and even Pulinkunnu have medical and engineering students, doctors and professors
playing a role in propping up rental rates.Though the district headquarters of Alappuzha has no residential apartment complexes, as the packed lanes and
canal sides give no room, property developers have made a start from the Kochi side.
Premium projects
Promising “the village beauty of Kuttanad on one side and the modern facilities of
Kochi
on the other,” a developer has announced
premium-class villas at Pattanakad in Cherthala, a 25-minute drive from Vytilla in
Kochi
and Alappuzha.
The project, which will have 61 villas on
about 2.5 hectares of land, promises a community hall, a health club, a park and children’s play area, a mini supermarket, a coffee shop, a badminton
court, a swimming pool and 24-hour security. More developers are said to be planning apartments in the region.
A 40-minute drive from Alappuzha, Haripad
is experiencing a minor boom. A recent advertisement called buyers for a double-storey house on a 0.2-hectare plot at Rs. 40 lakh. A year ago, the same plot
would not have gone for more than Rs. 25 lakh. In Kayamkulam, prices are on a slow, but gradual rise. One Internet ad puts a 2,500 sq. ft double-storey house
on a 0.004-hectare plot at Rs. 45 lakh. The asking price a year ago was Rs. 34 lakh.
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