| Calista29 2008-06-28, 12:40 am |
| Kerala, which has been known for its high human development but low economic growth, is now exhibiting a new phenomenon. Growth has accelerated since the late 1980s, as a result of economic reforms and a large inflow of remittances. The recent phenomenon of emigration from Kerala to the Gulf countries and the increasing inflow of remittances are having a tremendous impact on Kerala's economy. The state planning board reports that the remittances from the Gulf to this tiny state are Rs. 400 crones/year. An annual inflow of this amount cannot help influence the fortunes of the population. Although emigration from Kerala is not new, the current outflow reached massive proportions only in the wake of the intensive construction boom in the West Asian countries, after a huge volume of petro dollars flowed into those countries.
Kerala has achieved landmarks in many businesses. Real estate business in Kerala is one of the youngest branch and made tremendous growth in recent time. The state views the construction of public infrastructure as indispensable in projecting cities in Kerala as a prime investment destination and in improving the quality of urban life. Urban planning and management are marshaled to re-imagine and re-order these smaller cities/towns as a "global city" where the existing urban form is considered as an obstacle to be removed. The changing perceptions of urban infrastructure and planning and the rapid re-ordering of city-spaces in the era of globalization is a crucial element in the increase in demand for Property in Kerala. Cochin, which is now known as Kochi is the commercial capital of Kerala and known as the Queen of the Arabian Sea. It is a place which is blended with historical places, palaces, forts, old churches, beaches, backwaters, snake boats races, Kathakali, museums and the convenience of a big city with towering buildings, luxury homes and business centers |