COIMBATORE BECOMING AN INVESTMENT HUB

COIMBATORE BECOMING AN INVESTMENT HUB

Coimbatore is one of India’s fastest growing metros, and it is no surprise that it is becoming a major investment hub. The city has a highly diversified economy, and it is a renowned manufacturing centre. In the recent years, Coimbatore has witnessed a huge inflow of investment in real estate, and its rapid infrastructural development is the reason for that.

Here are some of the highlights of Coimbatore’s development trajectory:

• Steady economic development: Coimbatore has a revenue growth rate of 65%, which is more than twice the growth rate of all of India (30%). As per the Indian city survey conducted by India Today in 2014, Coimbatore was ranked the best emerging city in the country.
• Major sectors of growth:
  • Manufacturing: Coimbatore has a thriving manufacturing industry. Some of the leading manufacturing sectors in the region are automotive, motors and pumps, wet grinders and jewellery.
  • IT: Coimbatore is being hailed as the next software and IT hub in India. Some of the big corporate names that have a strong presence in Coimbatore are Aditi Technologies, Cognizant Technology Solutions, Wipro,FORD, Robert Bosch GmbH, IBM, Tata Consultancy Services, Tata Elxsi, Dell, CSS Corp, and KGISL. Coimbatore is also known as a BPO hub.
  • Textiles: A major textile hub, Coimbatore has more than 17% of India’s textile mills.
  • Food: Coimbatore has a large number of poultry farms and is one of the leading producers of chicken eggs and meat in the country. The city is also home to the oldest flour mills in India.
• Smart City: Coimbatore has been selected as one among the 100 cities as part of the Smart Cities Program by the central government. Some of the items on the development agenda are lake development, energy-saving street lights, surveillance, non-motorized transport corridors and Wi-Fi facilities, in order to further boost the city’s economy.
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BIG PUSH FOR COIMBATORE REAL ESTATE

GOVERNMENT INFRASTRUCTURE AND INITIATIVES – BIG PUSH FOR COIMBATORE REAL ESTATE

Coimbatore, the textile queen of India, has witnessed rapid development in the real estate market recently due to its metamorphosis into an IT hub. Being one of the fastest growing tier-II cities in India, the real estate market in the city has received a much-needed push. With rapid infrastructure and industrial development, the city has become a lucrative destination for investors.

Demand for Affordable Housing

The emergence of Coimbatore as IT city has accelerated demand for affordable housing in and around upmarket residential localities - such as Saravanampatti, Kalapatti. With the bustling growth of the IT industry in Saravanampatti, this neighbourhood has become a coveted residential locality in the city. In addition, affordable areas such as Mettupalayam Road and Trichy Road have also witnessed a rise in residential projects. Government initiatives like the three proposed monorail routes are set to improve connectivity within the city.

Growth Routes

With the recent launch of the Tidel Park, Coimbatore is ranked 17 among the global IT outsourcing cities. The transformation of Coimbatore isn’t only limited to the IT sector. The city has also witnessed expansion into general engineering, automobile parts manufacturing, and poultry, just to name, with some of the best known global brands operating here. Industries include:

• Major auto & auto ancillaries
• Wet grinders manufacturing
• Textile machinery manufacturing

Development Indicators

• Proposed Eastern and Western bypass
• Two existing SEZs along with five more in the pipeline
• Three proposed monorail routes

Another major Government initiative set to improve the infrastructure of the city is the proposed Western bypass, from Kangeyampalayam to Mettupalayam. The bypass will ease connectivity between the major principal roads within the city from Palakkad and the Eastern bypass. The upcoming residential areas of Saravanampatty and Kurumbapalayam are likely to benefit from the proposed Ring Road, starting from Avinashi Road till Mettupalayam Road.

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Coimbatore is one of the most favoured affordable housing destinations thanks to rapid development and Government initiatives, boosting the construction of many residential projects with an estimated investment of Rs. 500 crores. Vishwa Properties has established itself as the premier construction group of Coimbatore with major completed and upcoming residential properties in Pappampatti, Sathy Road, Trichy  Road areas of the city.

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