Located near
Chennai, Coimbatore is one of the most preferred tourist
destinations, it has emerged as Tamil Nadu's new real estate hub. The
13th largest urban mass in the country, after Chennai, Coimbatore is
the second largest city in Tamil Nadu. It is a rapidly growing tier 2
cities of India. Education, urbanization,commerce,economy,industries
and others are what is making it an inevitable town of significance.
City is also known for its legacy clubbed with industries like
engineering and textile, it has seen humongous economic growth in the
past 15 years and made an enormous impact on city’s real estate.
The city is often
referred as the Manchester of south India because of its flourishing
textile industry. Apart from these, there are few other industries
that the city boasts of are automobile manufacturing and engineering
firms. The fulfilment of two third of India's electrics motors
requirements yields from the Coimbatore-Tiruppur-Erode, the
industrial corridor of the state. Erode, the textile nucleus,
accounts for around 75% of the textile exports of the country
During the late
nineteenth century, the British exploited the potentials of the black
cotton soil of the area that gradually led to the founding of the
textile industry. Slowly, the city recorded an increase in the high
number of migrant workers. The slowly flourishing textile industry
resulted in the demand in engineering expertise that was eventually
followed by a paradigm shift towards a metropolitan culture. This
shift was responsible for the increased demand in the real estate
souk of the Manchester of South India. Currently, Coimbatore Real Estate is at its zenith and enjoying the position. According to
statistical reports, the market is here to stay like that for some
time now.
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