With Industrial Growth, Coimbatore Suburbs Make Real Estate Gains

Last Updated: November 07, 2022, 15:27 IST

The growing industrial bade in Tamil Nadu’s Coimbatore has led to a real estate surge not just in the main city but the areas nearby as well

The growing industrial bade in Tamil Nadu’s Coimbatore has led to a real estate surge not just in the main city but the areas nearby as well

The growing industrial bade in Tamil Nadu’s Coimbatore has led to a real estate surge not just in the main city but the areas nearby as well. Kovaipudur, renowned for its tranquil setting and adaptable climate, is currently gaining recognition as the newest hotspot for real estate investment in Coimbatore. Moving to the ongoing industrial development in the state, numerous notable IT giants including Tata Consultancy Services and Cognizant have established their bases in the city of Coimbatore in the past few years, reported news agency ANI.

As the area develops as a residential and industrial centre, Kovaipudur also known as ‘Little Ooty’, a sizable township near Coimbatore at the slopes of the Western Ghats, is now attracting the interest of real estate investors and buyers. Residential areas are being built nearby because of the industries that have been established to house the growing population. To improve living conditions, infrastructure projects in the form of public facilities like educational institutions, entertainment hubs like malls and retail centres, and industrial businesses are also coming up. The availability of these facilities further enhances the already enticing impression of Kovaipudur’s residential market.

The news agency reported that land acquisition by real estate plot developers has already picked up steam since the Western Ring Road’s project went on floors and progressed. The construction of the 32.4 km, a four-lane road connecting Madukkarai on the Coimbatore-Palakkad Road to Narasimmanaickenpalayam on the Mettupalayam Road has resumed following a protracted delay in land value determination. Large tracts of land in Kovaipudur are anticipated to be in great demand once the Western Ring Road is up and operational, according to real estate analysts.

While the boom is still in its initial stages as the Western Ring Road construction is still ongoing. According to analysts, this may be the only opportunity for buyers to buy Kovaipudur property lands at a reasonable price. The property prices are likely to shoot up furthermore once the neighbourhood’s development has reached its height and finished all phases.

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