Coimbatore, the textile and engineering city of India, is the second largest city in Tamil Nadu next to Chennai. It is one of the main cities in the state that is immensely popular for both the historical legacy and the industrial heritage. Coimbatore has seen tremendous economic growth in recent years that has also exploded its real estate sector.
“Manchester of South India”, Coimbatore is known for its extensive textile industry, factories and factories, auto parts manufacturing and engineering companies. These industries supply a bulky two-thirds of India’s electric motor and pump needs. Education and the manufacturing industry have been the vital elements for the growth of this city that will continue even in the coming years. Since there are a lot of reputed universities and educational institutions, the demand for real estate in Coimbatore is always on a higher side. The need for residential spaces such as apartments, flats or even hostels has been growing, creating opportunities for developers and real estate investors. It has been observed among the trends followed by investors who buy large buildings and turn them into a hostel that easily reports high returns.
Coimbatore, being a textile and industrial center, has already started to attract the attention of various global and multinational companies. Gandhipuram, Town Hall and Avinashi Road are some of the preferred commercial properties of these companies. It has some of the best properties available at affordable prices as the government now takes responsibility for promoting it as an upcoming property destination in Coimbatore. The government of Tamil Nadu has slashed property fees to encourage investors from other cities like Bangalore, Chennai, Hyderabad, etc. consider pumping money into Coimbatore as well.
In addition, it has excellent connectivity in the form of a modern airport, a well-developed network of broad-gauge railways, six arterial roads, and three highways. The service industry, i.e. IT and ITes, is developing at an astonishing rate with the arrival of corporate giants such as Tata Consultancy Services (TCS), Cognizant, BT Infoserve, Ephronsys, Robert Bosch, Nous Infosystems, CG-Vak Software , Quattro, Pricol, Spheris and sharp, etc. Presidium Constructions, Bannari Amman Group, Salzer Group, Span Ventures and KG Group’s Software Technology Parks, IT Special Economic Zones (SEZ) and IT Parks will also be developed in the near future in the city.
Coimbatore is also called the ‘Poor Man’s Ooty’ in regards to its pleasant and healthy climate throughout the year. The excellent climatic conditions of the city have also become an attraction for many. Another nickname associated with Coimbatore is the “Motorsports Capital of India”, as motorsports play a very important role in the identity of this city. It is considered as a ‘Backyard of Indian sports’ being the center of motor racing in the country.
Coimbatore’s real estate boom has led to its emergence as a city offering a high-end lifestyle.
The demand for properties in Coimbatore has witnessed a considerable increase which has led to an escalation in property investments. Both residential and commercial properties in the city are selling like hot cakes, leading to increased sales and income, as well as employment opportunities. This “city of entrepreneurs” is in fact the highest income district in the state of Tamil Nadu.
Property prices are definitely going to skyrocket much higher and gain positive returns in the future. Coimbatore is undoubtedly a safe bet as a real estate investment destination with bright prospects and high potential shown. It has become a new center of interest that is set to generate limitless opportunities by opening up great avenues of profit generation in the form of real estate.