Urbanization produces a new type of civilization and a new culture quite distinct from those existing in the rural societies. There goes on a continuous transformation of rural societies into urban societies. The degree of urbanization is regarded as an index of the level of socioeconomic development. An increasing level of urbanization is associated with an overall economic development or industrialization.
The continuous shift of the rural population to urban centers for employment in non-agricultural sector is one of the essential conditions for economic progress of a country. Urbanization facilitates the process of modernization, the spread of science and the attitude of economic rationality. The urban population growth is also related to the cascading effect of one activity over the other. It leads to a concentration of socio-economic power.
However, new types of problems are associated with modernization and urbanization. There are many differences in the character of urban and rural areas and also in the rural-urban population. Therefore, in the study of the urbanization pattern, the identification of the urban centers and their demographic structures is significant.
In Ernakulam real estate developments have been much influenced by the fast pace of urbanization in the city of Cochin. Perhaps in no other district in Kerala can you see such a phenomenal appreciation in land values. The modernization process has already made some key areas of urban Cochin out of bounds for people with small and marginal incomes. The most interesting aspect is that land values have nearly tripled within a short period. The most costly land area not only in Ernakulam but also in the whole of Kerala state is found on both sides of M.G.Road and Marine Drive in Cochin. Property values have already climbed upwards of more than 10 to 20 million rupees for a cent of land here.