The number of property registrations in Coimbatore in the last one year indicates revival in the real estate and property sectors.
According to data available with the registration department, the number of documents registered in Coimbatore increased by nearly six per cent in 2015-2016 compared to the previous year. In the case of Coimbatore zone, the number of documents registered went by up 5.8 per cent last year compared to 2014-2015.
In terms of revenue, though the realisation is lower than the target, it is more than last year in Coimbatore and Coimbatore zone.
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Rajesh Lund, president of Confederation of Real Estate Developers’ Association of India (CREDAI) – Coimbatore, said there are good enquiries and many of these are getting converted into sales too. Even compared to the October-December quarter, the last three months of the 2015-2016 financial year were better. Several promoters are now looking at low cost housing and are studying ways to make the buildings efficient and control the prices. There is a good demand for such projects and there are several incentives too, he said.
According to JLL India, it is a buyers’ market now and there is difference between the quoted price and the market price in several places. The registrations are more for villas and apartment units within the city. There is a price correction that has happened in the residential segment. It is a revival period now as the market is at the right price point.