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Cochin has become one of the busiest cities in Kerala with the surge of IT industry recently. Most of the multinational firms and IT companies in Kerala have concentrated in Cochin. The mass media too have started focusing more on the city, with their main and branch offices opened in Cochin. People are migrating to the city from their hometowns. apartments in cochin are thus high in demand.
The builders offer apartments in premium and luxury categories. The luxury apartments cost higher than the premium ones. People nowadays are worried more about the amenities and luxuries they receive, more than the cost they have to pay. They are not ready to compromise on the facilities they receive. The bank loans provided by most of the banks are a boon for the people. They avail the loan if the capital they have is not sufficient. Loans give additional benefits too. The housing loans can be used for availing considerable exemptions during income tax deductions.
Most of the apartments in Cochin are located near the IT hubs and firms, since most of the occupants are the people working in the industry. The cost for apartments in such locations is also comparatively high. In many places, apartment sharing is also practiced widely. Two or more people rent an apartment and share the rent among them. This reduces the cost, as far as an individual is considered. Moreover, people also want to own apartments in Cochin, since the investment prospects they offer is comparatively high.