Coimbatore’s real estate, with all of the recent infrastructural developments launched for the IT and manufacturing sectors, is primed to see massive expansion.
Looking for a vibrant and well-connected city to call home? Coimbatore City is one!
The synergy between real estate growth and infrastructure development in India is undeniable. As the country expands its roads, airports, and urban infrastructure, property prices tend to rise, urban areas grow, and new investment opportunities flourish
Coimbatore’s Real Estate Boom: New Infrastructure Projects Planned
Major announcements by Tamilnadu CM Stalin, include the construction of an integrated jewelry park, the establishment of a new TIDEL Park, the extension of the Avinashi Road flyover from Chinniyampalayam to Neelambur by 5 km, and the repair of the damaged roadways in Coimbatore city for Rs 200 crore.
It is planned to establish a gold jewelry industrial park in Kurichi SIDCO in Coimbatore, which is a significant hub for the production of gold jewelry worldwide.
Coimbatore, one of the information technology hubs in India is expanding in leaps and bounds, with major IT companies setting up offices in the city.
Many businesses have seen a rise in their need for office space as a result of this. Alongside the already existing Tidel Park, a new major information technology complex is going to be constructed on a plot of land in ELCOSEZ that is 17.17 acres in size.
The implementation of this megaproject will take place in Coimbatore, in conjunction with private information technology businesses.
Approximately 36,000 young people will be employed by this information technology complex, which spans an area of three million square feet and will undoubtedly be a new landmark in the growth of the city of Coimbatore in the years to come and will further boost Coimbatore’s real estate scenario.
The elevated flyover that was previously located on the Avinashi Road between Uppilipalayam and Chinniyampalayam has been accelerated.
There are plans to extend this flyover from Chinniyampalayam to Neelambur.
Roads that were damaged by UGD work in residential areas with a large number of dwellings will be tarred.
By improving the city’s infrastructure, these projects will attract more investors and homebuyers, leading to significant growth in Coimbatore’s real estate market.
Expert Insights: Gandhi Krishnan, V.P Purnaya Developers, on the Current Real Estate Landscape
Gandhi Krishnan, VP of Purnaya Developers has quoted, that in recent years, Coimbatore has emerged as a significant real estate hub in India. The city’s rapid growth, driven by the IT sector and improving infrastructure, has led to a surge in demand for residential and commercial properties.
According to recent data, Coimbatore ranked fifth in terms of investment opportunities across Indian cities. The Saravanampatti area, once primarily known for IT development, is now witnessing a boom in residential projects.
The number of housing options, including apartments and villas, has doubled compared to the previous year across localities.
This trend is evident across various localities like Vilankurichi, Mettupalayam, RS Puram, Sulur, Trichy Road, and Annur.
Leading developers like Town & City Developers, Casagrand, Sreevatsa, and Sree Daksha have significantly increased their presence in Coimbatore, launching multiple projects to cater to the growing demand.
A notable shift in consumer preferences has been observed, with more people opting for apartments in prime locations like Saravanampatti which is close to Gandhipuram.
This shift in thinking can be linked to the convenience and amenities provided by modern apartment complexes. People who come to work in Coimbatore from other cities favor apartments over individual plots of property, in contrast to natives.
Coimbatore’s real estate market is characterized by a diverse range of options to suit various budgets and preferences. Affordable 2BHK apartments, spacious villas, and budget-friendly plots are readily available.
Factors such as location, amenities, and acquisition price of the land play a crucial role in determining property prices in Coimbatore’s real estate market.
Purnaya Developers, have an under-construction project currently going on in Sarvanampatti, The project is offering 1, 2, and 3 bhk flats. A 3 bhk flat starts with an attractive price of 68.9 lakhs.
Coimbatore’s real estate market is poised for further growth with ongoing infrastructure development, including the metro rail project. As the city continues to attract investment and talent, the demand for housing will remain strong in Coimbatore’s real estate, says Mr. Gandhi Krishnan of Purnaya Developers.