Today Kochi is characterized by towering buildings in many localities. It is now in the limelight and is known to be one of the actively emerging cities. There are a number of projects that are likely to transform the city into a key center of development in South India. It is emerging as an emerging hub of IT and sea based industries and an estimated investment of Rs 25,000 crore, both public and private, is in the pipeline. An investment of Rs16,000 crore in and around Kochi over the next five years have been sanctioned.
The projects in Vypin island would play an important role in the development of Kochi as many important projects have been proposed there. Another very important flagship project of Kochi is the Vallarpadam International Container Terminal (VICT). For this project a road is being built and work on a rail link is also in progress. The project is being constructed by Dubai Port International and the DPI is now operating the Rajiv Gandhi Container Terminal. The project is estimated to cost about Rs1800 crore. The setting up of the first port based special economic zone will be a major turning point in the development of not only Kochi but the whole of Kerala. Another major project is the LNG terminal. The second LNG project proposed to set up at Puthuvype will greatly help the development of Kerala and the industries in South India.
Due to the development of these projects the real estate in Kochi has reached new heights. Also in areas like Tripunitura, Kakkanad and Vypin island the land prices have rocketed by around 500 percent.