Kochi has seen a surge in real estate activity, with recent data from the Kerala Real Estate Regulatory Authority (K-RERA) indicating a significant rise in project registrations. To date, K-RERA has registered a total of 1,306 real estate projects, with 208 of these registrations occurring in 2024 alone. This trend highlights a growing confidence in the state’s real estate sector, which has also been marked by greater regulatory compliance and a diverse range of projects.
Breakdown of Registered Projects
Among the registered projects, residential housing continues to dominate. Currently, 892 housing projects are registered under K-RERA, reflecting the steady demand for residential properties in Kerala. The rising popularity of villa projects is also evident, with 225 registrations. Additionally, mixed-use commercial and housing projects account for 80 registrations, while 13 projects are dedicated to shops or office spaces, catering to Kerala’s evolving urban landscape.
One notable area of growth is the registration of plot schemes, with 96 registered plots to date. This increase is attributed to a recent trend in dividing larger land parcels into smaller, habitable plots, making them accessible to a broader demographic of buyers. Increased K-RERA inspections aimed at identifying unregistered plot projects have also contributed to the rise in registered plots, pushing developers to comply with regulatory requirements.
District-Wise Registrations: Ernakulam Takes the Lead
Ernakulam district has emerged as a focal point of real estate growth in Kerala, leading the state with 450 registered projects. Thiruvananthapuram is close behind with 363 projects. Other districts, including Thrissur with 182 registrations, Kozhikode with 103, and Palakkad with 82, also showcase substantial real estate activity. This distribution of registered projects underscores Kerala’s statewide growth, with urban centers like Ernakulam and Thiruvananthapuram attracting significant development.
Real Estate Agent Registrations and Complaint Resolution
In addition to project registrations, K-RERA has also registered 669 real estate agents, a requirement under the RERA Act to ensure accountability and standardize professional practices. These agent registrations need to be renewed every five years to remain valid, fostering continued compliance within the sector.
K-RERA has also been proactive in addressing public grievances, receiving a total of 1,874 complaints as of September. According to officials, 1,559 of these complaints have been resolved, showcasing K-RERA’s commitment to ensuring fair practices and transparency in Kerala’s real estate market.
The steady rise in project and agent registrations under K-RERA is a positive indicator of Kerala’s growing real estate market, backed by increased regulatory oversight and buyer confidence. With a focus on compliance, consumer protection, and dispute resolution, K-RERA continues to play a critical role in facilitating sustainable growth in Kerala’s real estate sector.