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Key Financial Factors to Consider When Building Your New Home

With current economic conditions favorable for homeowners, now is a great time to build your dream home. Recent changes in the budget have removed many unnecessary taxes on newly constructed houses, encouraging more people to invest in residential properties. However, while many focus solely on interest rates and monthly EMIs, there are several other financial aspects to consider during home construction.

Whether you’re planning a house for sale, thinking long-term about a house for rent, or comparing it to buying an apartment for sale, understanding these financial points can help you make a smarter investment.

1. Think Long-Term: Durability Matters

Building or buying a home should be viewed as a long-term investment. Traditionally, a house is expected to last around 100 years, with the first 10 years considered the prime period and the remaining years seeing gradual decline.

However, due to modern construction practices, many new homes and flats may only last around 50 years or less. To ensure your investment pays off over time—whether it’s for a house for sale or your own residence—it’s vital to prioritize durability.

Key Tips:

  • Choose a strong foundation and quality construction materials.
  • Invest in reputable architects and engineers for structural integrity.
  • Select the right location and land to minimize risks.

2. Cut Down on Labor Costs

Construction labor can account for up to 40% of your total building budget. Hiring unskilled laborers for tasks like head loading and manual lifting significantly raises costs.

Smart Alternative:

  • Opt for prefabricated construction methods, which are more cost-effective and durable than traditional brick-and-cement builds.
  • These methods reduce dust, noise, and overall pollution—benefitting both the homeowner and the surrounding community.
  • Utilizing machinery also cuts labor time and expenses.

3. Monitor Material Prices

Material costs play a huge role in the total cost of construction. Over the past two years:

  • Iron rod prices have dropped by more than 10%.
  • Cement consumption has increased, but prices have decreased, making it a good time to build.
  • There are ongoing calls to reduce the 28% GST on cement, which could make construction even more affordable.

In high rainfall regions like Kerala, waterproof cement is essential to extend the lifespan of your home and reduce future maintenance costs.

4. House or Apartment?

With rising land prices in Kerala and other urban areas, many buyers are turning to budget flats as an economical alternative to independent houses.

Why Choose a Flat:

  • A modern apartment for sale offers luxury amenities at a lower price.
  • Reinforced concrete structures make flats safer during natural disasters.
  • Flats are often easier to maintain and modify over time.
  • Ideal for those looking for either a house for rent opportunity or a primary residence.

5. Secure Long-Term Home Insurance

A wise financial move is to protect your home with a comprehensive insurance policy. This is particularly important in regions prone to natural disasters such as:

  • Earthquakes
  • Floods
  • Cyclones
  • Strong winds or tornadoes

Select an insurance plan that aligns with the geographical risks of your location. Most long-term home insurance plans offer coverage for 10 years or more, ensuring peace of mind and reduced financial burden in times of crisis.

Whether you’re considering an apartment for sale, a house for sale, or constructing your own house for rent, taking these financial factors into account will ensure a smarter and more secure investment. Building a home is more than just bricks and mortar—it’s a decision that shapes your financial future.

Thiruvananthapuram’s Neopolis IT Township Project Set to Transform Real Estate Landscape

Exciting developments are underway in Thiruvananthapuram as the much-anticipated Neopolis IT Township project moves closer to becoming a reality. Union Minister of Housing and Urban Affairs, Manohar Lal Khattar, has confirmed that the Outer Area Growth Corridor (OAGC) project is under active consideration, with Neopolis expected to receive formal approval soon.

This ambitious project marks the first phase of the OAGC and is poised to revolutionize the region, particularly in Technopark Phase IV at Pallipuram, where 390 acres have been earmarked for development. The state government plans a high-level meeting in January 2025 to expedite the project, aligning it with the Capital Region Development Programme-II (CRDP-II). The revised masterplan, submitted by CRDP-II, is awaiting state government approval, a critical step toward implementation.

Real Estate Opportunities Near Technocity Phase IV

As part of the Neopolis project, the area near Technocity Phase IV in Pallipuram is set to become a hub of economic and residential activity. This offers excellent opportunities for those looking to invest in houses for sale near Technocity or plots for sale near Technocity Phase IV. The township will feature a mix of residential properties, shopping malls, recreational facilities, and five-star hotels, creating a self-sustaining environment for its residents.

Focused on Innovation and Growth

The Neopolis IT Township will cater to cutting-edge industries, including aerospace, electronics, software, and IT. It will also integrate advanced technologies such as robotics, artificial intelligence, data analytics, blockchain, and IT, ensuring it remains at the forefront of innovation.

Additionally, Prime Minister Narendra Modi is expected to announce this Rs 1,000 crore project, which is part of a nationwide initiative spanning eight states. Notably, Thiruvananthapuram is the only city in Kerala included in this ambitious plan, making it a prime investment destination.

Why Invest in Neopolis and Surrounding Areas?

With its strategic location and world-class infrastructure, the Neopolis IT Township is expected to boost the demand for real estate near Technocity. Whether you’re looking for a house for sale near Technocity or a plot for sale near Technocity Phase IV, this area offers excellent long-term potential for buyers and investors alike. Stay ahead of the curve by exploring your options in this rapidly developing region. Secure your spot in one of Kerala’s most promising real estate markets today!

Property trends in Trivandrum for the New Year 2025

The real estate market in Trivandrum is expected to continue growing in 2025, with some of the top trends including:

The growing IT industry in the region is expected to attract more young professionals to the city, and they will want to live close to their work.

Demand near IT hubs

Affordable housing

Many young professionals are relocating to Trivandrum for their careers, so affordable housing will be in demand.

Apartments

Apartments are the preferred housing type because they offer convenience, safety, and company.

Sustainable and eco-friendly initiatives

Younger generations are more eco-conscious and are looking for housing projects with green power options, rainwater harvesting, and proper waste disposal.

Smart home technology

Home automation solutions can offer convenience, especially for families with both spouses working.

Neighborhoods like Kazhakoottam, Mukkolakkal, and Vazhayila

These neighborhoods are gaining prominence as prime investment locations due to their strategic importance and modern developments.

Infrastructure development

Major projects like the Vizhinjam Port, Technopark Phase III, and e-charging stations are expected to come to Trivandrum, which will encourage steady expansion and advancement.

Trivandrum – The best place to live

Trivandrum is ranked as the best place to live according to the Oxford Economics Global Cities index. Studies conducted on five sectors – economic conditions, individual per capita income, standard of living, climate and government – by Oxford Economics resulted in the above conclusion. Oxford Economics included 1,000 cities worldwide in this study. Among major cities in India like Delhi, Mumbai and Chennai, the studies show that major towns in Kerala like Trivandrum, Kottayam, Thrissur and Kochi are the best places to live.

Among the five sectors, standard of living is where Trivandrum, Kottayam, Thrissur and Kochi attained top positions in the index compared to other major cities in India. Delhi, the capital city of India; Mumbai, the economic capital; and Bangalore, the IT city, have attained lower positions in terms of standard of living.

Economic-health conditions, availability of essential needs and road conveyance, low living cost, options for leisure travel and entertainment, and internet speed are the major topics of study in which Trivandrum is ranked 748 globally, Kottayam 753, Thrissur 757, Kochi 765, Delhi 838, Hyderabad 882, Bangalore 847, and Mumbai 915. In global rankings, Delhi is positioned at 350, Bangalore at 411, Mumbai at 427, Kochi at 521, and Thrissur at 550. Other major towns in Kerala are ranked under 600. New York holds the first position in the index.

Facts to buy property in Thiruvananthapuram

Trivandrum is home for one of the largest Information Technology park in India named Technopark. Major IT companies like UST, Infosys, TCS, IBS, Suntec, etc have set up their own campus here. The city’s IT parks starts from Mangalapuram along NH 66 to Aakkulam.  Also, Trivandrum is also known for its residential areas along with golden beaches and rich plantations.

Trivandrum city’s economy is comprised of information technology, greenery, aerospace, business and tourism sectors. Lot of new building projects and shopping malls are coming every year and the city’s growth has been attracting lot of residents to the city. The Trivandrum city has got good infrastructure in roads, water supply and electricity. Also, the city has given good initiative in waste management to keep the city neat and clean.

In Trivandrum, the cost of living is much less when compared to other major cities of India. In the city, you can find cheap home rentals for family and working professionals. If you are looking for serene environment and city life, Trivandrum is the ideal choice for buying your dream house or to buy a house plot to build your dream house.

Another fact that attracts people to buy property in Trivandrum is its climatic condition. Thiruvananthapuram has a tropical weather with hot summers and mild winters. The average temperature in the city is 27oC, but it can change to 26oC during monsoon season and 33oC during summer. The average maximum temperature in summer is 35.2°C, and the average minimum temperature in winter is 18.0°C, so the people staying in Trivandrum city enjoys a calm weather throughout the year.