Coimbatore real estate – competitive yet affordable
Coimbatore real estate competitive yet affordable
Coimbatore, the third largest city of Tamil Nadu, is famed for its historical lineage and industrial heritage. Famed as the Manchester of South India', Coimbatore is the third largest city of Tamil Nadu. It is known as the engineering and textile city of India and accounts for an extensive two-third of the country's requirement of electric pumps and motors. The city has undergone tremendous economic evolution in past few years that has accelerated its real estate market as well.
The city's economic strength is enhanced by well educated and intellectual workforce who contributes significantly to the overall economic domain. The presence of several reputed colleges and institutions in the city has led to an increased demand in the property in Coimbatore. Residential requirements generated due to these are immense, leading to an upswing in the realty graph. Real estate developers and investors are gradually moving focus to the city in order to avail the potential economic advantages that the region offers.
Also famous for its massive textile industry, factories and mills, engineering and automobile parts manufacturing firms, Coimbatore spells high commercial gain consequently impacting the real estate trends prevalent in the city.
Favorable factors such as a healthy climate and superlative connectivity make Coimbatore a globally desired destination for property investments and developments. Coimbatore is well-linked to the external world with excellent network of highways, arterial roads and broad gauge railway. Another proposal has been formulated by the Sri Lankan and Silk Airways that capacitates further elevation of the city's connectivity networks connotes direct flights to Singapore and Colombo, the major World Trade Centers of South-East Asia.
Coimbatore is witnessing a growing percentage of large-scale companies and industries shifting base to Southern India as it promises great economic benefits. The major factor behind such immense industrial migration is the emergence of Coimbatore as a high end lifestyle oriented region. This generates a plethora of employment opportunities which in turn amplifies real estate sector gains.
The commercial segment is on a boom with eminent brands like Tata Consultancy Services (TCS) and Cognizant consolidating their business complexes in the city. Coimbatore is on fast on its way to become a major IT vertex, thereby amplifying property gains. Excelling in its manufacturing sector, Coimbatire stands forth as a ripe location for the expansion of Software industries. With an upcoming project of a Software Technology Center, spread over 14 acres of land, spelling a budget of a whopping 140 crores, commercial sector will witness humongous expansion.
The commercial segment of Coimbatore is growing at a steady pace with corporate masters such as ABT Infoserve, Robert Bosch, Pricol, Ephronsys, Sharp etc. having their industries established in the city. Catering favorably to the real estate sector, Coimbatore is thus the highest revenue yielding region of Tamil Nadu.
The residential sector of Coimbatore real estate is also immensely impacted with the growing influx of professionals migrating to the city. Increasing demands have led to substantial property investments and developments enunciating large-scale construction of deluxe apartments, flats and residential complexes. Apart from professional migrants, demands are also generated from NRIs who account for extensive investments in the residential property market. Well equipped deluxe hosing complexes are being developed for this segment of the city's population.
Increasing demands have led to an escalation in the land values indicating an extensive 40-100% increase in the last 12months. Residential property market of Coimbatore also is touching sky heights contributing notably to the real estate growth trends of the city.
High property costs in competitive metropolitan cities like Delhi, Bangalore and Chennai have caused a considerable shift in focus for realty investments, leading to growing concentration on Coimbatore as a potential location. Moreover, to further augment Comibatore real estate, the government has slashed property rates, making them easily affordable. Considering massive introductions of construction projects being undertaken by property developers in the city, Coimbatore's real estate market is fast pacing the path of growth and progress.
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