Saravanampatti of Coimbatore shows residential realty demand
Coimbatore, known as the manchester of the south, is a fast growing tier 2 city located in Tamil Nadu. Tier 2 cities have become the centre of investment for builders after the metro cities. Being the second largest city in Tamil Nadu it is the one of the most important textile hub of the state. The city excels in real estate market with well developed infrastructure and and commercialized city. The north of Coimbatore records the most residential units absorbed closely followed by the south. One such important residential micro market in the north Coimbatore is Saravanampatti.
Connectivity:
The NH 209 passes through the heart of the locality. It connects the locality to the heart of the city and the neighbouring localities. The locality is 8 km away from the Coimbatore international airport. Thadiyoor Saravanampatti road and Keeranatham road are other roads which abuts from the national highway branching into smaller roads inside the locality and connecting the locality to the nearby other micro markets. The railway station is approximately 13 km away from the micro market.
Infrastructure:
Vimal Jyothi convent matriculation higher secondary school, Ruby Matriculation school, KV Matriculation school, Victory Vidyalaya Matriculation school, Dobbs public school, K’sirs International School and Vivekam international public school are the schools located in this micro market. Dr. SNS Rajalakshmi College of Arts and Science, SNS College of Technology, SNS College of Engineering, Dr. SNS College of Education, P.P.G. Educational Institution, KV Institute of Management and Information Studies, Kumaraguru college of technology, KGISL institute of technology, Sankara college of technology, K.G college of arts and science, K.G nursing college, Arts and Science College are the colleges situated in this locality. THe locality has various banks, supermarkets and other commercial buildings.
Real estate:
The main demand is for the residential realty properties. The most prominent type of buildings are the 3 BHK apartment type of buildings. The demand keeps increasing due to the subsequent increase in the the commercialization of the city and the working population increases demanding housing spaces and comfort.
Price trends:
There is several crests and trough in the prices in the previous quadrants. There is a small dip in price at the last quadrant. There is about 5 % fall in prices. The prices are expected to rise soon considerably as monorail comes into the city and when the city experiences more infrastructure developments. The average price per sq. ft. is Rs. 3,250 – 3,500. It is wise to invest in this area for people who are looking forward to settle down in their self owned houses.
