Kerala is building up - Real estate is booming

Huge increase in the number of real estate projects in Kerala

The state of Kerala has witnessed a significant uptick in the registration of real estate projects, particularly residential apartment projects, as reported by the Kerala Real Estate Regulatory Authority (K-RERA) for the calendar year 2023. This surge indicates a growing interest and investment in the real estate sector within the state. The rise in registered projects suggests an expanding market for residential properties, catering to the increasing housing needs of the population. It also reflects positively on the overall economic growth and development within Kerala.

    In the real estate sector, estimated Rs 6800 crores worth of new projects have been registered, marking a substantial increase of 32.7% compared to 2022. In the year 2022, a total of 159 new projects were officially registered, indicating a moderate level of economic activity within that period. However, the following year saw an increase in project registrations, with a total of 211 new projects being added to the roster in 2023. A total of 191 projects were successfully completed in the current year.

     Among the newly registered projects in 2023, residential apartment developments catering to the housing needs of many individuals and families. Additionally, there has been a notable rise in villa projects with a total of 56 luxurious villa projects now under development. Furthermore, 21 plots have been registered as part of the ongoing growth and expansion within the industry.