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 of the immensely popular state both for its historical legacy and its industrial heritage. Coimbatore has experienced tremendous economic growth in recent years which has also skyrocketed its real estate sector.
‘Manchester of South India’, Coimbatore is known for its extensive textile industry, mills and factories, engineering companies and auto parts manufacturing. These industries supply a voluminous 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, which will continue even in the coming years. Since there are a large number of renowned universities and educational institutions, the demand for real estate in Coimbatore is always higher. The need for residential spaces such as apartments, flats or even hostels has been increasing, thus weaving opportunities for real estate developers and investors. It has been observed among the trends followed by investors buying large buildings and converting them into a hostel that easily brings them high returns.
Coimbatore, being a textile and industrial hub, has already started to attract the attention of various global and multinational companies. Gandhipuram, Town Hall and Avinashi Road are some of the commercial properties favored by these companies. It has some of the best property available at cheap prices as the government now takes on the responsibility of promoting it as an upcoming property destination in Coimbatore. The Tamil Nadu Government has cut property fees to encourage investors from other cities like Bangalore, Chennai, Hyderabad etc. consider injecting 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 expressways. The service industry i.e IT and IT is developing at a dizzying pace with the arrival of corporate giants like Tata Consultancy Services (TCS), Cognizant, BT Infoserve, Ephronsys, Robert Bosch, Nous Infosystems, CG-Vak Software , Quattro, Pricol, Spheris. and sharpening, etc. Software technology parks, IT special economic zones (SEZ) and IT parks of Presidium Constructions, Bannari Amman Group, Salzer Group, Span Ventures and KG Group will also be developed soon in the city.
Coimbatore is also known as the ‘Poor Man’s Ooty’ due to its pleasant and healthy climate throughout the year. The excellent climatic conditions of the city have also become a source of attraction for many. Another nickname associated with Coimbatore is that of ‘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.
The real estate boom in Coimbatore has led to its emergence as a city that offers high-end lifestyle.
The demand for property in Coimbatore has witnessed a considerable increase leading to an escalation in real estate investments. Both residential and commercial properties in the city are selling like hotcakes, implying an increase in 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 will definitely skyrocket much higher and they will earn positive profits in the future. Coimbatore is certainly a safe bet as a real estate investment destination with bright prospects and great potential. It has become a new cynosure that is set to generate unlimited opportunities by opening avenues of generating huge profits in the form of real estate.