Residential Real Estate Update on Coimbatore
Coimbatore, the second largest city in Tamil Nadu, has witnessed rapid growth in realty in recent times. This growth has been propelled by enhanced commercialization along with development in its infrastructure facilities. Despite economic slowdown, the Coimbatore realty market stood tall in comparison to most other major realty markets. Considering that the city real estate market is largely end-user driven, the ill-effects of economic slowdown were curbed to a large extent.
Besides the rapid rate of commercialization and the growth in social and physical infrastructure, other factors like connectivity, affordability and the vast options for residential projects have also contributed to a large extent to the growth of Coimbatore as a prominent realty destination.
Micro-markets and prices
Some of the important micro markets in demand in the city include Saibaba Colony, Peelamedu, Singanallur, Saravanampatti, Gopalapuram, Tatabad, Uppilipalayam,Nehru Nagar, Kuppakonam Pudur, Ganapathy, Sanganoor, Rathinapuri, Masakalipalayam, Udayampalayam, Ramasamy Nagar, Puliakulam, Koundampalayam, Neelikonampalayam, Thudiyallur, Vadavalli, Kalampalayam, Vivekanandapuram, Madukkarai, Podanur, Kurichi, Kovai Pudur, Edayarpalayam, Vadamadurai, Sivanandhapuram, Chinniyampalayam etc.
Saibaba Colony is one of the most expensive micro markets in the city with a current average price of Rs. 5900 per sq. ft., for residential apartments. The average prices in Peelamedu are Rs. 4720 per sq. ft., in Saravanampatti it is Rs.3400 per sq. ft. and in Singanallur, it is Rs.3770 per sq. ft.
Developers and projects
Some of the prominent completed residential apartment projects in Saibaba Colony are Marutham Jade by Marutham Developers, Sakthi Apoorva by Sakthi Constructions, Sreevatsa Atrium by Sreevatsa Real Estates etc. Important residential projects in Peelamedu are Vijaya Hyyde Paark by Shriram Properties, Elysium Vistaara by Elysium Real Properties, Govardhan Apartments by Mookambika Builders etc. Important residential projects in Saravanampatti are Venus Lotterace by Venus Construction, Jass Brindhavan by Jass Developers, Global Carnation by Global Habitat etc. Prominent residential projects in Singanallur are Ramanis Srishti by Ramani Realtors, Patteeswarar Paradise by Patteeswara Developers, Boomerang Greens by Wallcliffs Realty etc.
Connectivity
The city is well connected with a wide network of roads criss-crossing each other. Gandhipuram forms the heart of the city, with inter-city as well as intra-city bus connectivity. Please be Clear The NH-4 passes through the south-eastern fringe of the city, with the NH-209 bisecting it along the southern tip. The Chettipalayam road connects areas in the south, from the heart of the city. Some of the prominent roads connecting areas in the west are Perur main road, Marudhamalai road and Thadagam road. The roads extend outside the city to form the SH-64, SH-167 and SH-164 respectively. The NH-209 extends from south to north dividing the city vertically along the center. The NH-67 also connects areas in the north while bisecting the NH-47 on the east of the city. Besides, Trichy road and Avinashi road provide seamless connectivity to the heart of the city.
Infrastructure
Coimbatore is renowned for its social and physical infrastructure facilities. The Coimbatore International airport is located 11 km east of the heart of the city, while the city railway station is located 4 km south of the city center. Known for its textile manufacturing units located across the city, Coimbatore also has many important IT/ITeS companies which are key drivers for real estate growth. It houses an IT-SEZ which has many prominent IT companies within its premises. They include companies like Microsoft, IBM, Cognizant, Dell and Bosch. Some of the other prominent companies which are proposed to come up with office space in the city include TCS, Infosys, Wipro and HCL. There are many prestigious educational institutions here like the PSG group of institutions, Coimbatore Medical College, Hindustan College of Engineering and Technology. The famous Bharathiar University is located on the western fringe of the city. The Tamil Nadu Agricultural University is located close to the heart of the city. Besides, there are many important hospitals, restaurants, recreational facilities, commercial complexes etc.
Future Prospects
Due to stable realty market existing in the city there will be a steady demand for residential property across the city. With the development of infrastructure and connectivity across the city, the demand will be further enhanced, particularly along the fringe areas, due to affordable prices as well as the availability of various options to choose from.
