Unstoppable Coimbatore ; Real Estate in Coimbatore

Real Estate in Coimbatore

Unstoppable Coimbatore

Traversing the topography of one of India’s strongest emerging realty hotspots

Located in the Southern state of Tamil Nadu, Coimbatore is advantageously sandwiched between tourist attractions like Ooty, Kodaikanal and Coorg. The city is swiftly moving into fast-track development. In India, the focus has already shifted towards tier II cities owning to the huge demand in these cities, and many investments are pouring to them because of the good business propositions they offer. Coimbatore is already witnessing increased real estate demand.

Coimbatore’s massive manufacturing sector makes it one of the fastest-growing economies in the country; the city justifiably enjoys the tag of ‘Manchester of South India’. Its surrounding cotton feed a flourishing textile industry, contributing to the diversity of its economy. Coimbatore also holds many other alluring economic features – for instance, it is a renowned manufacturing centre producing specialized products intrinsic to the region, auto components, motors and pumps, etc. The exports from the city range from poultry, jewellery to software. In fact, Coimbatore caters a lot to the growing IT industry and is supported by huge skilled labour pool and special economic zones (SEZs) that have attracted leading IT companies and technology service providers. The city also has a strong economy from medical tourism from various parts of the country.

Coimbatore has been identified as one of the top 10 cities in the country that offers low budget real estate investment opportunities, according to a recent study done on Emerging Hotspots in India by JLL. Eventually, the city is strongly visualized to captivate upcoming investments into its real estate sector in the near future due to following attributes:
One of the top 20 Smart Cities of India:

Coimbatore, categorized as a Business & Industrial Centre, has the pride label of one of the top 20 cities chosen by the Ministry of Urban Development, Government of India under the Smart Cities Mission initiative. The city focuses on five nodes for the smart city proposal, such as best-in-class civic services which envision to strengthen all the utilities, seamless mobility which focuses on NMT, parking and intelligent transport system through CCTV surveillance, a sustainable environment by implementing LED street lighting and increasing green cover, E-governance and efficient infrastructure for industries.

Central Coimbatore, adjoining an 8 lake network, is selected as the area for development under the Smart City initiative, and will witness intense development in the vicinity in the coming years. Recently, German experts have indicated to the State Government their interest in extending assistance to the Smart City project to be implemented in Coimbatore.

Already an established industrial hub of South India:

Coimbatore has over 25,000 small, medium and large business enterprises functioning in the city. The major industries are textile and engineering, and the city still continues on its track of being hardware–centric. This makes it unique when viewed against other South Indian cities like Chennai and Bangalore, which rely more on the software industry for growth. With the implementation of GST, this region will benefit from its locational juxtaposition with neighbouring states of Kerala and Karnataka.

The Coimbatore Salem Industrial Corridor strengthens its advantage. Coimbatore is a prime-node on the industrial corridor between Salem and Coimbatore proposed by GoTN’s Vision 2023 Agenda. This could bring in substantial incremental investments in the region to help infuse positive economic developments in the city. According to the Confederation of Indian Industry (CII) South, this corridor is expected to attract an investment of about INR 14,700 crore to create further infrastructure, thereby creating a wide range of investment opportunities to the tune of about INR 43,000 crore. It is also being expected to create jobs for approximately 18 lakh white and blue collar personnel. This has already pulled in residential developers planning to expand their offerings in the city.
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Asked Sep 30, 2016

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