Kochi: Why one shouldn't be surprised
Rohit Mahajan, writing in Outlook , examines why Kochi's bid for an IPL team made perfect business sense given the city's rapidly growing consumerism and the impending housing boom.
Siddhartha Talya
25-Feb-2013
Rohit Mahajan, writing in Outlook, examines why Kochi's bid for an IPL team made perfect business sense given the city's rapidly growing consumerism and the impending housing boom.
“It’s recognition of Kochi as the economic capital of Kerala,” says Kochi-based economist Ajit Kumar. “The average Malayali is a very emotional and competitive person, and it satisfies his ego to have a team in the IPL.” He also mentions a more compelling reason for the presence of the IPL in Kochi—fiscal fluidity and demand for housing. “I’ve estimated that by the end of the 11th Five Year Plan (2007-2012), there would be a demand for 1,20,000 housing units in Kochi alone,” he says. “At present, 50,000 units are available—the shortfall is massive, and that’s why so many builders are among the Kochi owners.” They want to build a brand through the IPL and lure customers to future housing projects
Siddhartha Talya is a senior sub-editor at ESPNcricinfo