Cochin is one of the few cities in India, which has the best connectivity to the outside world through sea, air and road. This is also one of the reasons for Cochin being identified as an attractive destination for investments. Moreover, this inflow of investments has created realty prospects in the city, both residential and commercial as the IT firms are bringing in more and more people into the city.
Real estate business needs a great investment. Institutions provide top-level education for all those wishing to develop or invest in the India real estate market, either directly or indirectly. Builders Cochin is involved in two public-private partnerships and its experience has been very positive. The public side has the capabilities—the technical capabilities—but the speed is not there. They are bringing the speed, as well as the best technology, the best financial engineering, and the best talent in the world. But they are helping to expedite the project, and we’ll build it within three-and-a-half years by implementing global best practice. Like in other large cities of India, Cochin has growing slum population. Hundreds of people, mostly comprising migrant laborers who come to the city seeking job prospects, reside in such shabby areas. Like other fast-growing cities in the developing world, Cochin suffers from major urbanization problems, poor sanitation, and unemployment. The city registered an increase of 9.7% in its unemployment rate from 14.8% in 1998 to 24.5% in 2003. Shortage of potable water is a major concern in the city. The situation is aggravated by the threat posed by pollution in industrial areas. The city also has a growing slum-dwelling population. The government is giving its full support. It’s helping to get all the clearances that are needed, like utilities, power, evacuating the land. However, a survey conducted in 2007 considered Cochin to be the best city to live in India. One has to be perseverant to get things done. Once the officers or bureaucrats are back in their offices, their time is not their own. They get preoccupied with meetings with internal and external constituencies.