People are investing in Coimbatore Real Estate. Know why.

As metropolitan cities become increasingly expensive by the day, real estate investors have shifted focus to Tier II cities in South India. Coimbatore is one of the most popular destinations in this category. Apartments for sale in Coimbatore have rapidly picked up pace because Chennai witnesses exorbitant prices. Once reckoned as a retirement destination, Coimbatore has today emerged as a real estate investor’s preferred choice. Properties in Coimbatore, with increased demand, are also observing transformation. The modest and simple independent homes and apartments are slowly giving way to opulent villas and luxury apartments of the best kind.

Coimbatore’s landscape is today inundated by modern residential apartments. Some structures that outdo their counterparts in several developed nations of the world. Coimbatore is today a relaxed city, slowly gearing up for industrialization like any other metropolitan city in India. Apartments for sale in Coimbatore are in greater demand for several reasons, some of which are stated below.

• Real estate prices in Chennai are soaring high and most times not affordable by middle income groups. Properties in Coimbatore are a lot more reasonable when compared to Chennai and hence the subject of immediate focus before prices soar higher in this city as well.

• Chennai is getting crowded with time. Coimbatore is a relatively more laid back city equipped with urban amenities and yet not congested. It has all the facilities that a metro can offer but a lot more lung space than Chennai or any other metro.

• Coimbatore has always been known as a medical and educational hub and textile destination. The city has the best educational institutions, hospitals and medical facilities and textile industries. Today, the city is also gearing up to witnesses the IT/ITES revolution. Several software services majors like Cognizant and Wipro have set up their bases and also have great expansion plans within the city.

• Commercial development along with growth of apartments for sale in Coimbatore has picked up greatly. This is because of availability of land and premises at relatively affordable prices. A lot of industries and multinational companies are beginning operations here and thus city is expected to see colossal industrial development.

Properties in Coimbatore are thus embarking on a journey that was once specific to the metropolitan culture. However, they are a lot more affordable now and investing in real estate of Coimbatore today is a wiser choice to make.

What can Investors look for in the Real Estate market in Chennai today and tomorrow?

Real estate in Chennai, a couple of decades ago, was as conservative as the mind-set of the city. Residents preferred the Central Business District for abundance of amenities for the entire family. Home buyers have always been driven by location preferences in Chennai. Therefore, there were a lot of limits that were imposed in the real estate market as recent as even one decade ago. When most other metropolitan cities focused on the creation of large integrated townships and luxury apartments in the outskirts of the city; Chennai residents were more than happy to stay at smaller homes that the CBD could afford. However, this scenario is now changing.

New Trends in Chennai Real Estate

In the coming months, real estate in Chennai is expected to witness dramatic changes. There are a string of township projects that are in the making and due for completion sooner. These projects are largely based out of OMR, ECR, Sriperumbudur, GST Road and the likes. And they are expected to bring about rapid transformation in the city’s landscape.

1. Plot coverage in these townships is minimal and there is massive green cover. This means that such projects are not only eco-friendly but enable its residents to lead a pollution free, safe, healthy and green living. 
2. Community living was a term that was unheard of in the city until 2006. Today, the concept has been making breakthrough with several premium real estate developers creating townships in the city. Community living has a lot of advantages to offer. Man’s need of social engagement is enabled greatly by society. Townships offer greater safety with security and proximity of other homes when compared to independent homes anywhere in the city or elsewhere. Townships usually are green projects and hence there is better lung space. Such townships are thus set to create an indelible imprint on the real estate market of Chennai.
3. Residential communities are usually complete with all contemporary amenities like swimming pool, sports courts, fitness center, joggers’ trail and the more elaborate ones like retail centers, hospitals, schools and recreation hubs thereby making them self-reliant in every sense of the word.

Real estate in Chennai has today set the pace with game changers of myriad kinds. Now, as the townships complete and community living commences in the city, real estate experts forecast a decisive momentum of a large spectrum in the city.

Chennai bears a New Face. Luxury Realty has come of age in Residential and Commercial Landscapes

Luxurious residential apartments in OMR Chennai are no longer an alien concept. Chennai has transformed and expanded so as to incorporate several other suburban markets within its landscape. The suburban markets are interestingly observing real estate demand as much as the Central Business District. When there is such high demand, the landscape in these regions is abundant with luxurious apartments and villas that are rapidly filling up. OMR is the city’s famous IT corridor. Rapid advent of numerous international IT and ITES organizations accelerated housing demand in the city. Since the IT corridor employs a large number of top management professionals that seek luxury homes in the vicinity of their workplace, several builders are engaged in the construction of premium luxurious apartments and villas in places like OMR and ECR.

Why OMR is a preferred Real Estate Destination

Besides the establishment of IT parks, OMR is also connected to many other important places of Chennai. The scenic coastline and the more serene and less polluted ambience have increased the appeal of the region tremendously. At the moment, residential activity on this road is largely seen until Kovalam but in the years to come, a lot more real estate development can be observed even beyond Kovalam. Therefore, those who work in OMR, ECR and other adjoining neighborhoods or even in the prime areas of Chennai like Thiruvanmiyur, Besant Nagar and Adyar find staying at OMR a more desired choice. 

1. OMR has homes with large spaces and ability to expand further. Villas, integrated townships, farmhouses and sprawling apartments can be seen only in these suburban markets.
2. Luxurious residential apartments in OMR, Chennai are not just a class apart but are also more affordable than the real estate market in the Central Business District (CBD) of the city.
3. Properties in this region observe an overall lower cost when compared to the CBD. Lower prices are because of easy availability of land at lower rates. 
4. Capital appreciation is expected to be exponential since the scope of development is bigger.
5. Saturation will naturally take longer since these are the newly developed areas unlike the CBD.
6. It is closest to the IT corridor and other industrial parks of the city.
7. Great connectivity and exceptional infrastructural development facilitate easy access to all important parts of the city.

 Image Credits: commonfloor

The Market for Luxury Realty in Chennai

Chennai was once known for its conventional expectations and preferences in every field and real estate was no stranger to this concept. However, the mindset of the population today has undergone a paradigm shift. The modern real estate investor seeks luxury in residential real estate and there are numerous reasons that support their changing preferences.

1. Rising income levels. Numerous multinational companies have taken affordability to a new high with high remuneration.
2. Migrating population has a different lifestyle standard and the rest embrace the new lifestyle.

The rapidly increasing number of luxurious residential apartments in OMR, Chennai is a standing testimony of the lifestyle expectations the city has prepared itself for.

Apartments vs. Independent Homes. Reasons Supporting the Choice of Investors

Flats for sale in Chennai and especially luxury apartments in Chennai is a trend that is only expected to grow with time. Villa projects, luxury apartments, contemporary farmhouses and modern studio flats are all doing independently well with real estate investors of all kinds. However, the primary preference of residents and migrants of the city continues to be apartments. There are important reasons that support the strong preference. 

Price

Flats for sale in Chennai owing to the space consumed and the number of units constructed contribute to relatively lower costs in comparison with independent homes or villas. Although there are many factors that determine the choice of home to be purchased, price most certainly is a numero uno factor.

Amenities

Apartments anywhere have a lot more amenities than an independent home. Beginning from children’s play area, swimming pool and fitness center to tennis courts and more elaborate facilities like in-house medical centers and play schools; these are options that are exclusive to modern apartments. The modern investor seeks such comforts of life.

Safety

An apartment complex is home to several homes that are located next to each other. Most flats and all luxury apartments in Chennai have dedicated security staff that are usually absent in independent homes. Safety is of paramount importance today and hence apartments are relatively safer havens of living.

                              

Community living, uncompromisable quality of construction and higher rental prospects are other reasons that support the choice of buying flats for sale in Chennai.

Properties to Rent in Chennai. How are they influencing the Realty Market?

Availability of properties to rent in Chennai will never meet its saturation even though the homes for sale in the city are rapidly increasing. This is because rental properties are ideal for those who find it tough to buy a home in a metro like Chennai where prices are soaring high. Flats for sale in Chennai may be a growing number but so are their prices. If the Central Business District of Chennai has exorbitant prices associated with residential and commercial properties; the suburban markets may be relatively lower but the numbers are still too high especially if the expected choice of property belongs to a reputed builder. 

Properties to rent in Chennai are today exclusive deals since such is the nature of demand. Investors who already have properties for themselves are investing in homes solely for rental purposes. This trend has largely caught on in the country simply because rental yields in Chennai are skyrocketing. Despite the location of property, migrating population is looking at rental properties instead of investing in apartments for sale because

1. those work beyond their budget and
2. the nature of their jobs may require them to move to different locations in a few years.

This is where properties to rent in Chennai are making big impressions. Numerous builders from the country and around the world are cognizant of preferences of the city’s resident population and hence offer homes that suit their requirements and budgets. This way, ready-to-move-in homes have also created a new trend and constitute a phase to watch out for.

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Race Course Road, Coimbatore turns into a Lifestyle Destination

Properties in Coimbatore are increasingly becoming synonymous with luxury. The new generation industries and lifestyle of population have made a substantial dent in the realty preferences of the city. Today, Coimbatore is home to lush signature homes that are tastefully architected and resourcefully constructed. These are hence futuristic homes for the forward thinking population of the city. Coimbatore’s landscape is gradually becoming inundated with modern homes and state-of-the-art office spaces and Race Course Road and its neighboring areas are receiving a new lease of life. Trichy Road, Off Race Course Road is fast emerging as the hub of luxury properties.

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Why Race Course Road

Luxury properties in Coimbatore can be seen in big numbers in the areas adjoining Race Course Road.

1. Race Course Road lies in the heart of the city and therefore a central destination will always be the first to develop. Also, sustained development can be observed in central regions even when other areas see their rises and falls and this is quite natural in a real estate market.

2. Further to being the heart of the city, Race Course Road is surrounded by numerous important and great-to-have amenities. These include hospitals, schools, railways station, airport, clubs, restaurants and shopping malls.

3. Connectivity to the rest of Coimbatore and other important hubs is always the best from Trichy Road and Race Course Road.

4. Properties in Coimbatore of the uber luxury are growing in numbers. And a large percentage of them can be seen on Race Course Road. So if you sign up for a living here; you become a part of the up-market locality of the city.