February 7: According to a recent JLL research on Emerging Hotspots in India, Coimbatore is one of the top ten destinations in the country for low-budget real estate investment. The following qualities are projected to draw additional investments into the city’s real estate market in the foreseeable future:
Increase in aprons in the International Coimbatore airport:
Coimbatore’s airport is one that has been constantly evolving and growing. The recent development plans of the airport include the addition of 7 aprons and a 12,000 feet runway of 627 acres. The government has allocated a total of INR 1,132 crores for the airport development project.
Expansion of the defence industrial park:
Another factor that can potentially attract over Rs. 3,500 crores worth of investment in the Coimbatore By-pass is the expansion of the defence industrial park. The government has allotted over Rs. 225 crores to allow them to take over the union government’s defence industrial corridor and allow new defence manufacturing facilities and clusters.
Developments in the Vellalore Integrated bus stand:
The Vellalore Integrated bus stand has received a budget of Rs. 168 crores to accommodate more buses and reduce traffic congestion. Over 104 vehicles and 1,200 two-wheelers will be able to park in the 60-acre bus terminal. For the convenience of bus drivers and conductors, the design includes the construction of retiring rooms and facilities. There will also be an information centre, a first-aid station, a police station, a commercial complex, a restaurant, and billboards at the property.
Widening of By-pass lanes
Traffic congestion has been decreased, and connection to the area has been improved, thanks to the addition of eight lanes to the Coimbatore By-pass and the construction of a terminal at the Vellalore Integrated Bus Stand.
Singanuallur is about 10 minutes away by car, and the airport and train station are only 20-25 minutes away. The Coimbatore By-pass is surrounded by neighbourhoods like as Ukkadam, Peelamedu, Avinishi Road, Gandhipuram, and RS Puram.
Future of real estate: Coimbatore By-pass
Coimbatore has grown into a thriving real estate market. This tier-II city has a distinct economy, high-quality education, a huge labour pool, and well-defined sustainable development goals, making it a desirable location in South India with high future investment expectations. Because of the growth of hopeful attitudes and the city’s business-friendly culture, the city’s real estate market will boom in the future.
