Kerela builders opting for high rise structures

September 21, 2008	(Be the first to rate this story!)  Loading ...
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Property prices have been soaring in the state of Kerela due land shortage and an unending stream of foreign remittances and money orders Homesteads in the State have become costly, and contiguous land for new projects too has become prohibitively expensive. “Land in prime locations in Munnar costs anything between Rs 5 lakh and Rs 10 lakh a cent, adding to the project cost substantially. The cost in Kumarakom is not much different. And good land is hard to come by in these prime tourism spots,” sources in the real-estate sector said. Consequently, the character of resort tourism, with sprawling buildings and cottages, is giving way to high-rise buildings.

While the advent of high-rise buildings in places such as Kochi and Thiruvananthapuram can be considered as an inevitable part of urbanisation, the extension of this culture to high-profile resort tourism destinations such as Munnar and Kumarakom is totally unwarranted, says Mr George Dominic, Executive Director of the CGH Earth group of hotels. “The height of buildings in these tourist destinations should be restricted to the height of the coconut trees in these places,” he says. While arguing strongly against high-rise structures, Mr Dominic said the only way forward for the hospitality industry would be to increase the price of rooms. But there are limits beyond which room rates cannot be revised. Already Kerala is perceived as a high-cost destination and attracts mainly the discerning international traveler with deep pockets. With several competing destinations within and outside the country, further revision in room tariffs could deter fresh tourist arrivals.

Defending high-rise buildings, the builders said the high cost of land meant that every additional cent of land added to the project cost. Also, since a good part of the area came under the cardamom hill reserve, land use conversion was strictly prohibited. High-rise structures were the only option to contain land costs.

News Published Under:   Property Prices |

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