The proportionate share of non-residential buildings out of total constructions in the city has shown an increase from 11% to 14% in eight years, as per the study report on real estate sector by Gulati Institute of Finance And (GIFT) submitted to Kerala Real Estate Regulatory Authority (K-ERA).
GIFT analysed the distribution of buildings in the corporation wards from the data available with IKM sanchaya between 2014 and 2021. The observed increase has been at the expense of residential buildings in such a way that their share declined from 85% to 82%.
The report notes that the share of non-residential buildings increased with an Average annual Growth of 18%. The growing importance of non-residential buildings continued even during the pandemic period.