With Coimbatore’s metamorphosis from the textile queen into an IT hub, the real estate market has revitalised.
Coimbatore being the textile backbone of Southern India has been labeled ‘Manchester of South India’. In the last few decades, swapping cotton with technology it has emerged as an IT hub, successively giving real estate a much needed push. Coimbatore is one of the fastest growing tier-II cities of India.
Having featured in the list of Smart Cities Mission, Coimbatore has attracted German assistance for the project. With rapid industrial and infrastructure development, it has become a lucrative destination for real estate investors.
Housing demands
Coimbatore has emerged into an IT city thus an increasing demand for affordable houses primarily comes from young IT professionals. The upmarket residential localities, such as R.S. Puram, Avinashi Road and Race Course have experienced highest demand for residential units. Whereas in the affordable segment, localities such as Saravanampatti, Mettupalayam road, and Trichy road have witnessed a rise in small projects. With the IT industry growing in Saravanampatti, this region has developed as a prized residential locality.
This story is from the July 2017 edition of Outlook Money.
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This story is from the July 2017 edition of Outlook Money.
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