Kochi Corporation Plans To Launch Affordable Housing Scheme
In a move to make a contribution to the Central government’s Housing For All Mission, the Kochi Corporation plans to launch housing schemes with the help of Central and state’s assistance. To further help provide more land for the development of housing and other infrastructure projects, the Greater Cochin Development Authority (GCDA) is also looking at expanding the city limits towards Angamaly, the northernmost suburb in city.
While the Corporation has clarified that it will launch housing schemes to ensure all Kochi residents have a roof over their head, past experiences show that when the Union government was intending to promote affordable housing scheme in Kochi, local developers were not too keen to take it up. Most of these builders were quoted saying that the cost of raw materials and that of labour makes it almost impossible to bring down the cost of real estate in Kochi although there is demand for same. Localities like Tripunithara and Maradu are high-end areas and the supply gap of affordable homes cannot be addressed in such areas. It may however be possible in Kakkanad but the price push in the recent years is difficult to ignore owing to progress of Kochi Metro and Smart City initiatives. More so, with restrictions imposed on construction on agricultural land and reclamation of wetland, developable land at affordable prices is scarce.
Many infrastructure and development projects are underway that will help decongest the city, the most prominent being a wider network by Kochi Metro. By next year, the Metro services would be extended to Thykkoodam and will connect Ernakulam South, Kadavanthra, Elamkulam, Vytilla and Thykkodam. Meanwhile, plans are also on to complete the second phase of Kochi Metro that will lead up to Kakkanad. This means, 11 new stations would come up at Palarivattom Junction, Palarivattom Signal, Chembumukku, Vazhakkala, Kunnumpuram, Kakkanad Junction, Kochi Special Economic Zone, Chittethukara, Rajagiri, Infopark I and Infopark II. Going ahead, this will also help boost city’s real estate.