IT sect facilitate to Coimbatore to emerge as residential hub

IT sector facilitate to Coimbatore and southern outskirts of Chennai to emerge as residential hub or in other words it has brought down the demand of real estate market in this area. The formation of IT infrastructure facilities by flamboyant sector players including Bosch, Cognizant Technology Solutions (CTS), Spheris, Perot Systems, KGISL (SEZ) to name a few, has mounted the demand for apartment complexes in the Saravanampatti-belt a few kilometres from Gandhipuram, a major commercial hub.
Previously Coimbatore was known for the several famous educational institutions like College of Technology and for a long stretch the Coimbatore-Mysore road was dotted with industries, creating interest in real estate investment primarily individual home construction.
Basically the forthcoming launches of construction of apartments/villas in the area by the number of realtors such as Shriram Properties, Ramani Realtors Pvt Ltd, Cordon Bleu Properties and Infrastructures Pvt Ltd were made adding to the projects of developers such as Sreevatsa Real Estates Pvt Ltd, Martin Property Developers and the Sahara Group.
As per the realtors reports and approximate digit there are around 3000 apartments including forthcoming and under-construction in the area. This is one of the most happening places for the real estate in the mentioned city. These announced and under construction projects have been enticed to the buyer whereas ghost of mounting interest is still haunting to the real estate market and rates of the reality is beyond the reach of the common man.
Mr V. Subramanian, Executive Director, Ramani Realtors Pvt Ltd, Coimbatore and President, Coimbatore unit of Confederation of Real Estate Developers’ Association of India (CREDAI), who has been implementing projects in Saravanampatti since 2006, said though his first apartment project in the area was priced around Rs 1,500 a sq.ft, his latest offering is priced around Rs 2,500. But this the most happening place in the city and according to the fresh reports there is rising numbers of famous developers those are announcing their forthcoming projects in Coimbatore.

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