Coimbatore’s property sector is seeing a fresh surge in demand as it emerges as a hub for warehouses and with an increasing number of “Coimbatore-made” Information Technology (IT) companies.
Gugan Ilango, president of Confederation of Real Estate Developers’ Associations of India (CREDAI), Coimbatore, says the Coimbatore-Palakkad road, especially the Coimbatore bypass, is becoming the preferred destination for warehouses. Since many jobs are generated at the warehouses, there is a huge demand for affordable housing in this area. Further, with many Coimbatore-based IT companies growing, there is a demand for residential units. Apart from these, even large brands are aiming at developing co-working spaces in Coimbatore.
N. Eshwar, CEO of G Square, says Coimbatore has been an important destination for corporate companies and industries to set up operations. This is evident from the initiatives the government has taken to invest over ₹2,000 crore in various infrastructure developments in the city. The projects include airport expansion, road development, drainage facilities, defence industrial corridor, beautification of public places, and healthcare. These will lead to more corporate companies setting up operations here.
Saravanampatti, Vellalur and Coimbatore bypass road are likely to become major hubs with confirmed industrial developments. The Coimbatore bypass has been a very significant zone from an economic development perspective. With the proposed airport expansion, an upcoming new bus stand, road expansion plans and the defence corridor coming in the zone, and plans to widen the bypass into a four-lane road, this location is set to become the next Old Mahabalipuram Road, he said.
A panel discussion, to be held in Coimbatore on January 21, will showcase the potential of Coimbatore bypass as the next big investment destination here. G Square presents “Coimbatore Unlimited: Collaborate, Co-create and Celebrate,” powered by The Hindu, a four-part panel discussion to be held on four Fridays from January 21. The event will be held at Taj Vivanta from 4 p.m. to 6.30 p.m. and the topic for January 21 is “Coimbatore bypass: The Next Big Investment Destination.”
