Real Estate in Nagercoil:

Kanyakumari being educationally a forward district in the state of Tamilnadu compared to other districts. Being the reason though the District doesn’t have any good Industry to increase the local economy. Now the current generation is migrating to wealthy IT hubs like Chennai, Bangalore and other parts of the world. In turn the money flowing back in the form of investments like real estates, Coconut groves and Paddy field(Lot of paddy fields are converted in to coconuts groves and Housing Sites).So the cost of a 1 ground(5.5Cent) housing plot in Nagercoil will cost around minimum of 25-40lacs(depends on the locality).In the adjoining areas it would be 10-15lacs.Those who are in abroad their 100% of investments are only in houses and coconut farms.It had naturally increased the real estate prices in Nagercoil. Though the real estate prices are not increasing so rapidly but the increase is steady but consistent in Nagercoil. “Except Collector and SP every one in the district are real estate brokers here” a sarcastic comment given by a taxi driver.



The people who work in IT industry have a dream to stay in the native place were exploited by the much hyped “SEZ project “Nanguneri Project, Near Valliyur. Today the real estate value of Nanguneri would fetch approximatelyRs150crores .Whether Government is planning to bring SEZ or Industrial Zone to that place or not the real estate owners had made a good amount of money .Lot of people have invested their money on real estates this area. People believe that investing in Gold or Land will always fetch a good return in the life time. So nothing to comment on the real estate investments made by people at Nanguneri let hope the investors will get better returns.