Looking to invest in real estate? Coimbatore is the next big fish!
Blog Type- Factual
Read Time- 5 mins
Being amongst the top 3 cities in India with the least real estate stock, Coimbatore is often called the ‘Textile Valley of India’. It boasts of the vast textile industry since long but now has become an electronics manufacturing hub too. A lot of IT companies have branched out to Coimbatore already and the remaining are following suit in the two IT parks planned within this 2nd largest city of TN. Hospitality too, is on a boom here with all major upscale hotels nearing completion. There is a lot of scope of real estate development in the city, which shall definitely be a cheaper deal vis a vis a Tier I city.
Below are 4 reasons for you to invest in Coimbatore-
Industrial Development- The city houses the first integrated textile park of India, Palladam Hi-Tech Weaving Park. It is also big on gold manufacturing and motors/pumps. It has been chosen as a part of the smart city proposal by the Ministry of Urban Development. With over 25,000 businesses of all sizes flourishing in the city, the scope of development is quite evident. Moreover, most of the IT/ITeS companies are moving towards Coimbatore to set up their bases after Chennai.
Connectivity- As part of the Government’s initiative and vision, Coimbatore is an important station in the Coimbatore Salem Industrial Corridor which is expected to attract investments to the tune of greater than Rs 14,000 Crore and thus creating lakhs of white- and blue-collar jobs in the process. Being so welcoming to all kinds of businesses implies that Coimbatore is not economically growing owing to one industry only, rather it has a home for every kind of business that can benefit its economy.
Amenities- Coimbatore alone houses 7 universities, 54 Engineering colleges, 2 medical colleges and many other educational institutions, making sure there is no dearth of talent in the area. Further, the healthcare and hospitality industries are on a steep rise in the area because of the many residents migrating from different arears of the country for either work of for the purpose of investments.
Growing Real Estate Market- With a booming commercial real estate, Coimbatore has seen a large increase in the demand in residential projects owing to its green pastures and likely retirement comfort. Especially around the key micro markets namely R.S. Puram, Perur Road, Race Course etc. the investments have risen exponentially mainly due to 40% of the investments coming from people stationed in metros like Bengaluru, Chennai, etc. Additionally, areas at the outskirts of the city are yet to be recognized for their potential fully; leaving a ton of further scope of development.
In short, Coimbatore makes for an ideal investment hub for reasons more than a singular one and its time we tapped its potential with the aim of a better life. It has been identified as the country’s top 10 cities that provide low budget investment opportunities in real estate. If you are looking to invest in Coimbatore, Provident Green Park, a project by Provident Housing is the perfect example of affordable luxury. Spread over 9 acres and offering 1, 2 and 3 BHK apartments, this project is surrounded by well-planned amenities. With most of the amenities within a short distance, the project is made of well-lit and warm apartments surrounded by the much-needed amenities. We invite you to come and experience the small-city joy at Coimbatore!