The city of Coimbatore is the third largest city in the state of Tamilnadu. It is known as the textile capital of South India and is one of the most industrialized regions in Tamilnadu. Coimbatore is located in the cool foothills of the Western Ghats, in its rain shadow region. The weather is cool, enjoyable, and extremely pleasant all around the year. The black soil in the region is fertile and has been instrumental in the boom of the cotton industry, which has in turn resulted in the flourishing textile industry. Coimbatore’s economy is powered by industries and businesses, and is one of the strongest economies in the state.
Traditionally, individual houses have been dotting the property-scape of Coimbatore till the turn of the previous decade. The development in the industries resulted in more and more people thronging into Coimbatore, in search of rental places to reside in and go to work. Over the years, the initial inhabitants who migrated into Coimbatore from places such as Chennai, Trichy, Madurai, and Bangalore, have made Coimbatore their home. They began investing in property for sale in Coimbatore and buying their dream homes in Coimbatore, as the city is less congested when compared to other cities. The presence of industry coupled with the amicable weather conditions have now contributed to the expansion of the Coimbatore property markets. Over the last 3-5 years, there has been a huge surge in the number of apartments and properties for sale, being constructed and sold.
In Coimbatore, many people are buying 1BHK, 2 BHK, and 3BHK flats or apartments. Independent houses or villas with 1BHK, 2 BHK, and 3BHK, apart from plots, are also bought by many others. People usually buy 1BHK apartments or houses for sale, for investment purposes. 1BHK apartments or villas are also bought by newly married couple who have just moved into Coimbatore. 2BHK flats or villas are usually bought by married couple who have a kid or by people residing abroad for investment purposes. Interestingly, many people are looking at Coimbatore as an ideal retirement destination. So quite a few people are buying 2BHK villas, 3BHK villas, and houses in Coimbatore as an investment towards retirement: think retirement homes.
Plots are also bought by many as a means of investment. Some people buy plots which are on sale at the peripheries in order to construct a house at some point in the future. Retirement homes and residential communities for senior citizens have also been major investors in the Coimbatore property sale segment. Many popular retirement communities have built and successfully sold quite a few villas and apartments in Coimbatore, to senior citizens.
1BHK flats and homes usually come with a carpet size of about 500 sq feet. 2 BHK apartments and villas have an inbuilt area of anything between 600 – 1600 sq feet. 3 BHK houses and flats have a carpet area ranging from 1000 sq feet to 3500 sq feet. Many NRIs have invested in huge 3BHK villas in Coimbatore, and are seriously considering them as retirement options! The Coimbatore property market has been giving quite high returns on investments and property prices are doubling every 3-5 years.
There are regions and places across all of Coimbatore, where real estate has been booming. Gandhipuram and Ganapathy are two places which have existed for a long time. Flats, houses, and plots for sale in these two areas of Coimbatore are always hot and grabbed almost immediately! Sivanandha Colony, Saibaba Colony, RS Puram, and Townhall, are also the nerve centres of Coimbatore. They are well connected to the other parts of the city and hence very popular residential destinations. Buyers buy properties for sale in both these areas of Coimbatore for both living and investment purposes. Kavundanpalayam and Singanallur are two other favoured destinations in the property market of Coimbatore. Flats and houses for sale have been mushrooming in these two areas as well.
Kovaipudur, Vadavalli, Thondamathur, and Peelamedu have quite a few apartment projects being executed and lined-up for the upcoming years. These areas are new, upcoming, and very well urbanized. They are sought after by the IT community, who find residing in these areas comfortable and stress-free. Thudiyalur and Saravanampatti are two more places in demand. Flats, villas, and land are in demand in these areas as they are rich in urban infrastructure.
In conclusion, it can be said that Coimbatore is turning into a haven for property buyers and investors. The demand for property has been on a steady rise and the return on investment has also been high. Property markets in Coimbatore are growing at a steady 20-25% every year. This makes Coimbatore a very attractive real estate destination! If you are seeking to buy your dream home or a house for investment, you should surely look into the property market of Coimbatore.
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