Construction activity is showing signs of revival in Coimbatore, if the number of applications submitted for building plan approval is an indication.
According to data available with the Coimbatore Local Planning Authority (LPA), the total number of applications received for approval in 2013 was 541 as against 472 the previous year. On an average, the LPA received 33 applications every month in 2012 and it increased to 43 in 2013. The number of applications declined to 26 in November last year. But, it revived to 52 in December.
An official of the LPA says that most of these (70 per cent to 90 per cent) are for apartments and larger residential buildings. The officials return the application if it did not have adequate details or it did not comply with norms. One of the major problems faced in Coimbatore is the requirement of 30 feet wide access road. Some applications are submitted again, incorporating all the details. The local LPA had approved 250 applications in 2012 and 261 last year and sent it to the local body for processing. Rajesh B. Lund, former vice-president of Confederation of Real Estate Developers’ Associations of India — Tamil Nadu, says the demand for residential units here is fluctuating. For the last one year, the demand has not been as expected and in general, there is a slowdown in the market. However, enquiries were better in January compared to December.
Promoters continue to plan projects. The approval usually takes six months to a year and the construction is completed in three years after getting the approval. Hence, the applications will be for projects that will come up later this year, he says.