Construction boom in coimbatore

Real estate development in Coimbatore looks all set to peak, according to builders’ estimates, with takers for luxury apartments and residential complexes expected to rise in the coming year.

“We see much scope in Coimbatore since it promises a lot of development in the next few years,” said Nirmal Gadhiya, Director of Chennai-based Deccan Estates and Constructions Limited.

The company has ventured into Coimbatore with its ’All Seasons Luxury Apartments’ at Ramanathapuram, which include facilities like an aerobics room, gymnasium and swimming pool.

Expected to be completed in the next two years, the price for an apartment would range from Rs 30 to Rs 40 lakh.

Deccan Estates had also finalised land at the Race Course to cater to the needs of high-end customers, Gadhiya said.

The city already has players like Jain Housing, Mayflower Enterprises, Srivari and Presidium Constructions.

True Value and Real Value, both Chennai-based companies, have started work at Coimbatore, while Delhi based Orchid has submitted plans to develop a township at Kalapatti.

According to G Srinivasan, Chairman of Coimbatore unit of the Builders’ Association of India (BAI), “Most of the developers are targeting middle and upper middle class residents.”

“With the manufacturing sector looking up and the IT Park coming, the demand for housing projects is bound to go up. There are lots of companies coming in, including the Belgium-based Hansen Transmissions International NV and aN L&T plant,” said Jayakumar Ramadoss, former Chairman, CII.