Apartment proposals falls down by 50 %

Q: Hello, anybody heard about the apartment proposal taking a hit in Coimbatore? Why is it happening? I thought it was going good.

sathiya seelan, Coimbatore

16th February 2015

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Replies (8)

Hello. The LPA and the corporation officials were blamed by the builders as they took too long to process. To which the offficials replied saying that most of the projects don't meet the requiremtns on the open spaces rule among many others.

Manikandan Swami, Coimbatore

19th February 2015

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Exactly. Also you know. the builders are finding it hard to sell most of their apartment units. And besides, the buyers right now are looking for independent houses in the outskirts so that they get enough privacy rather than stick to apartments.

Tina Kumar, Coimbatore

18th February 2015

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I have found out the key areas where there are more proposals from. Supposedly R S Puram and Sai baba Colony top the list of proposals while a large number of applications come from Podanur, Vilankurichi and Kurichi among a few other areas.

Suraj Naraynana, Coimbatore

18th February 2015

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So you know the CREDAI chief had something to say about this. He said that builders were going from 20-30 units to building more than a 100 in a single unit in the outskirts of the city. But the choices of people have evolved too and they want someting better.

Akshat Rai, Coimbatore

18th February 2015

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Amusing. The market observers claim something entirely different. What they say is that apartments are no longer a preferred choice for new buyers which had messed up the demand and so the downfall in the proposals area of such properties.

Tina Kumar, Coimbatore

17th February 2015

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Builders have been optimistic of the fall. I talked to a builder who said that most of them were slowing down the construction proecedure as the government had made the approval process overtly strict and getting the permissions were getting tougher.

Mohana Vijay, Coimbatore

17th February 2015

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Exactly. Here's a bit more proof to support that. Supposedly, 191 residential buildings were up to get approvals in the 2013-14 financal year. But the same fell to JUST 92 in the next year which is the 2014/15 season which is actually very big difference.

Sumitra Kannan, Coimbatore

17th February 2015

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You have heard it right. According to Local Planning Authority of Coimbatore the number of cases that come for approval for multi-storey building and other commercial places has gone down. This dfference is pegged to be some where between 50 % or higher.

Archana Ramachandran, Coimbatore

16th February 2015

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