Sadiya Anwar Alvi

UH4051

The state of Kerala has a long history of emigration, with millions of Keralites living and working abroad. While this has led to significant remittance inflows and other benefits for the state, it has also resulted in a large number of assets, such as houses and plots of land, remaining vacant. The utilization and utility of vacant non-resident Indian (NRI) assets in Kerala, India is an important topic of study due to the significant number of NRIs who own property in the state. Many of these properties remain vacant for a large part of the year, leading to a potential loss of revenue and economic opportunities for both the NRIs and the state of Kerala. The study examines the factors that contribute to the large number of vacant assets in Kerala, including the preferences of NRIs for certain types of properties, market hurdle, and the lack of effective property management systems. It also looks at the economic and social implications of vacant assets, such as the loss of potential revenue and the negative impact on local communities. The study focuses on understanding the various aspects of NRI’s investing in the market and keeping their vacant properties. It further explores the potential for these properties to be used for tourism purposes, given Kerala's reputation as a popular tourist destination. Furthermore, the study identifies several potential solutions to address the issue, such as incentivizing property owners to rent out their properties, developing effective property management systems, and promoting investment in the state's real estate sector. The study also examines the role of the government and other stakeholders in implementing these solutions. This research aims to shed light on the complex issues related to Kerala's Development, Kerala’s Migration and the large number of vacant assets in the state. By providing insights into the causes and consequences of the phenomenon and proposing potential solutions, the study can inform policy and decision-making aimed at promoting economic growth and development in Kerala.