Calicut is an important commercial hub of Kerala. It is located in the southern part of the state. The city is also known as Kozhikode. It was also referred as the "City of Spices" because it was a major commercial center of eastern spices in the medieval age. Calicut is the third largest urban agglomeration as well as city of Kerala.
Calicut has a historical significance as it opened a gateway for the western counties to establish trade link with Indian Subcontinent, which changed the course of its history. In the year 1498, Vasco da Gama, the Portuguese explorer landed near Kappad, about 15 km from Calicut city.
Economy influencing Real Estate in Calicut
Counted as the most developed city of Kerala, Calicut has a business oriented economy. The major population of the city is employed in the Middle Eastern countries. Their remittances are the major source of economy of the region. The growth of the economy of the city has efficiently influenced the real estate market in the city. This is evident in the mushrooming malls, multiplexes, flyovers, etc. in the market. According the data issued by a renowned economics research firm “Indicus Analytics”, Calicut has been ranked the second best city in India to reside. The six parameters that determine 'reside-in' index of livability which includes health, education, environment, safety, public facilities and entertainment are the best in Calicut.
People from all over the world have invested in the properties of Calicut. Several residential and commercial complexes are coming up in the city offering wonderful opportunities to the investor to invest in the property of their choice. Some of the planned projects of Calicut are the Birla IT Park (at Mavoor), Cyber Park and Malaysian satellite city (at Kinaloor). According to the experts it is the best time to invest in the city’s property as the investment is bound to bring the best return in the coming years.