The slow-paced real estate sector in Palakkad has gained momentum in the recent past with lot of high-rise commercial buildings, housing colonies and apartments coming up in a big way. Local real estate dealers feel that Palakkad is witnessing a big boom next only to Ernakulam. Some of the leading builders are making their presence felt in the district.
People have also started buying housing plots, individual houses and flats expecting assured returns in the long run. Palakkad is primarily is inclined to agriculture with large tracts of paddy fields and cash crop plantations. But it also has the second biggest industrial belt - the Kanjikkode-Pudussery-Walayar industrial areas.
I don think industry and residential high rises have any direct relationship.
Here, the land availability,cost and lifestyle are the real factors.
For example Coimbatore is purely an industrialized city ,with 1.4M population, but you can't see any building with more than 10 stories, anywhere in Coimbatore ! (i didn't seen in past 8 months). But large number of local, as well as big players in real estate are having projects in Coimbatore, but they are more focusing on Villas and apartments with 4 or 5 floors only.
So, Palakkad also having a real estate boom, like what is happening in any other part of kerala, which is boosted mostly by NRI Keralites.
And, Palakkad is an ideal location for Industries, The proposed Textiles Park will be the next big thing for this little city.
Land prices are high all over kerala. Thats why we are growing vertically. But is this really a development? Or is it what our CM says land mafia. :lol:
Palakkad has less NRI population than thrissur. Other than that it has the same scope for development or even better.
Sanju I just meant some one needs to post some pics from malappuram also. Whether new thread or existing thread. I have no idea whether there is any high rise apartments like the above in malappuram dist. But good mid rises are there in the form commercial establishments.
kidu some high rise residential apartments r coming up at manjery and edappal...no idea about malappuram....yup there r many class mid rises in kotakkal,perinthalmanna & malappuram tirur etc...will try to get those pics soon...
Regarding the industrial growth & highrises,i think wat rkpv said is right...i dont think kerala growing vertical is fueled by industrial growth..not even a single city in kerala is not industriealised as tamil nadu cities like coimbatore... one more example is mysore which is more industrialised than our kerala counterparts,but u cant see any buildings more than 5 stories in height.. i think its the sky rocketting land prices & the type of life style kerala people follow makes this boom in high rise constructions...
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