Though there is a slowdown in the property sector and investments are not as high as it used to be three or four years ago, there are still some areas that are viable and profitable.
A commercial area with buildings that have parking space and the mandatory set back space will not only find takers but will give a better look to the entire neighbourhood.
According to property consultant JLL India, there are several options on the non-residential front – office space, industrial buildings, retail outlets, etc.
Commercial buildings for tenant use are among the best options available in Coimbatore.
It will be viable if property developers in the city go in for ground plus one floor buildings, provide adequate amenities, especially for car parking, and set back space.
On the retail front, the demand is more for 1,000 sq.ft spaces and the clients are mostly regional brands.
Apart from these, other viable options are marriage halls (mandapams) and warehouses.
Coimbatore has nearly 80 marriage halls and the average annual occupancy for these is 180 days.
The average seating capacity of these halls is 500 to 1,000 and dining space for 250.
Though the taxes are high and the demand is decreasing, those located near temples and have lodging facilities have better demand.
There are not many new projects that have come up in the last one year.
There are also a few multi-purpose halls that have good demand.
In the case of warehouses, the demand is gradually shifting from Coimbatore to locations such as Kochi that have better connectivity.
There were proposals for development of auditoriums in Coimbatore, but these have not come up as the average annual occupancy is low.
Those who go in for modular auditorium, will find the project viable, says the consultant. There are several colleges that rent out auditoriums to meet the demand.
