The real estate
market in the city of Coimbatore is well known for its
infrastructural prosperity. There are various reasons that have
fueled the popularity of the boom in real estate in this area. The
housing market started in the year 2000s and till now it has
flourished at a great level. There are mainly three areas that have
developed in the field of the real estate. The segments are that of
retail, commercial and residential. Each of the properties proves to
be beneficial for the buyers. However, the main development is in the
field of the residential complexes.
In the initial
years, the price of the property in the area was very cheap. However,
with the development the prices begin to increase and thus the market
is at its zenith. The present price of the properties has gone up by
about 25% to 30%. Now, this real estate boom has opened up new
opportunities in front of the investors. There are various investors
that are coming forward to take a grab of the market. The buyers or
the investors are mainly the locals; however, there is a certain
number of NRIs that are also taking an interest in this area.
When it comes to the
residential Properties at Coimbatore, then there are various options
that can allure the buyers. The types of properties that are
available are villas, penthouses, and apartments. Also, one can avail
the land and establish their house. There are various areas that are
flourishing as residential hubs, in this city. Some of the major
localities of the area are that of Race Course, RS Puram, Tiruchi
Road and Saibaba Colony. These areas have the proper kind of
facilities that can support a high quality of urban life. Now, the
apartments are made in two ranges, one for those who have a
low-income group and the other for those who have a high-income
range.
The developers see
that the apartments, which are built are of very high quality. The
rise in the real estate has also given rise to the aspect of the
social development. There are various aspects that have been
developed in this place. This location is designed in such a manner
that it proves to be a perfect option for the end user. The medical
centers situated here has located in proximity and can be accessed by
the residents easily. Moreover, there are also proper and renowned
educational institutes that are located in this place. Also, the
standard of the living is quite high in this area. The price also
starts from a reasonable value of 3,500 INR per Sq Ft.
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