Tag Archives: Coimbatore

Apartments in Coimbatore for Rent

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Coimbatore, also known as Kovai, is a major city in Tamil Nadu known for its key industries, engineering goods, textile mills, educational institutions, health care facilities, traditional culture, and boundless hospitality. It is home to a large textile industry and, more recently, an electronics manufacturing hub. 

Coimbatore’s real estate trends have changed over the years, and apartments are gaining popularity with buyers and lenders to the point where modern apartment designs have evolved. Because of its welcoming green pastures and plentiful hospitality, Coimbatore’s growing real estate market is seeing a significant increase in demand. 

Here are some advantages of renting an apartment in Coimbatore!

The climate is pleasant:

Because of its year-round pleasant climate, Coimbatore would be the best place to live. The city is home to incredibly welcoming individuals who embrace the culture and extend a warm welcome. 

The divine nature:

Coimbatore has a cosmopolitan outlook and breathtaking natural surroundings because it is home to the world’s most delicious “Siruvani Water,” after the Nile. 

Development:

Coimbatore’s expanding IT infrastructure and readily available connectivity can support all businesses. Because of its essential amenities, the city attracts significant investment. 

Connectivity:

The city is home to numerous universities, engineering colleges, medical colleges, and other educational institutions, as well as healthcare industries, and it has easy access to major South Indian cities. It is one of the main reasons why people move to Coimbatore. 

Ideal place for everyone: 

Many apartments in Coimbatore are ideal for families, kids, working parents, and college students. With world-class institutes for technology, engineering, and arts, and some of the best schools in the area, Coimbatore is a great place to buy your dream home. Because the city is not overly urbanized or overcrowded, it is an ideal place for families to relocate. 

A bright future is assured:

Job opportunities abound in multiple fields of interest due to the growing BPO, engineering, computer hardware, and IT sectors. Coimbatore, the gleaming city, is a beacon of hope for most rural people who travel to fulfill their dreams. 

Thriving metropolis: 

Coimbatore is a thriving metropolis in Tamil Nadu, with new buildings, stores, cinemas, restaurants, parks, and shopping malls sprouting up across the city. It is one of the state’s fastest-growing cities due to its vibrant social and cultural life. 

If you ever want to settle in a quiet and wonderful place in the entire state, buying your dream apartment in Coimbatore would be the best decision you’ll ever make. 

Things to consider before renting an apartment in Coimbatore 

  • Budget for upfront costs, long-term costs, and everything else you need to buy before you begin looking for your first apartment. 
  • Secure a move-in date before signing the lease so we can book a moving van and movers and plan our packing. 
  • Begin transforming your apartment into a home by making a furniture wish list, planning the decor, and deciding where everything will go. 

It’s a right of passage to move into your first apartment. 

Another step toward adulthood, but this one requires a lot of planning, money, and effort. 

Being prepared to begin the search entails knowing in detail what to know before renting an apartment, from how much savings you should have to what documents you need to convince the property manager you are a good candidate. 

Use the detailed list below to clarify what you should know before renting an apartment. Then, go out and find your first place. 

  • Rent is an additional expense when moving into a new apartment. You must save for the upfront costs before looking at the monthly cost. Before the keys to your first apartment, you must pay application fees, a security deposit, a pet deposit if applicable, and the first and last month’s rent. You can budget for this by saving a few months’ rent.
  • Where you live is nearly as important as the layout of your apartment. Ideally, you want to be close to the shops and services you use frequently. You do not want to drive a long distance to get groceries, a haircut, or a good meal. 

A few walkable options, as well as proximity to public transportation, if available, are advantageous. You should also consider the distance between your prospective home and your place of employment. A long commute can ruin a day, so plan out the distance you will travel to and from work to get an idea of how long the ride will be. 

  • What would you put on a list of things you could not live without in your first apartment? Do you need in-unit laundry so that you can clothes daily? Do you require an on-site workout facility to help you stay in shape? Do you require an elevator instead of stairs to get home from work?

These are vital factors to consider when renting an apartment in Coimbatore to ensure one will enjoy your surroundings. “Many apartment communities are raising the bar with luxurious amenities that make living easier, more convenient, and more enjoyable.” 

There is a lot to learn before renting an apartment in Coimbatore. The best advice is to figure out what you can afford and then carefully navigate the rental process. 

To turn your first apartment into a home, pay attention to every detail, keep track of your expenses, and prioritize your needs. 

Apartment for Rent in Coimbatore Awaits You

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Coimbatore, also known as Kovai, is a major city in Tamil Nadu, routinely known for its essential industries, engineering goods, textile mills, educational institutions, health care facilities, traditional culture, and boundless hospitality. It is home to a large textile industry and, more recently, an electronics manufacturing hub. 

The real estate trends in Coimbatore have changed over the years, and apartments are now gaining popularity with buyers and investors to the point where modern apartment designs have evolved. Because of its welcoming green pastures and hospitality, Coimbatore’s growing real estate market is seeing a significant increase in demand. 

Benefits of renting an apartment in Coimbatore

Pleasant weather: Coimbatore would be the best place to live due to its year-round pleasant climate. The city is full of friendly people who adhere to great culture and offer a warm welcome. 

Nature divine: A cosmopolitan city with breathtaking natural surroundings, it’s famous for its tastiest “Siruani Water,” after the Nile. 

Development: Coimbatore’s expanding IT infrastructure and easy connectivity can support businesses. Because of its essential amenities, the city attracts significant investment. 

Connectivity: The city is home to numerous universities, engineering colleges,   medical colleges, and other educational institutions, as well as healthcare industries, and it has easy access to major South Indian cities. It is one of the main reasons to rent an apartment in Coimbatore.  

The ideal location:  Apartments in Coimbatore are great for families, children, working parents, and college students. Coimbatore is a great place to buy your dream home because it has world-class institutes for technology, engineering, and arts, as well as some of the best schools in the area. The city is ideal for families to relocate to because it is not only urbanized and overcrowded. 

We are guaranteed a great future: Many jobs are available in various fields of interest due to the growing BPO, engineering, Computer hardware, and IT sectors. The gleaming city of Coimbatore is a beacon of hope for most rural people who come to fulfill their dreams. 

A flourishing metropolis: Coimbatore is a thriving metropolis in Tamil Nadu, with new buildings, stores, cinemas, restaurants, parks, and shopping malls sprouting up in every direction. A city where social and cultural life is thriving, it is one of the state’s fastest-growing cities. 

Coimbatore is Tamil Nadu’s third-largest city and one of its most industrialized. It is popularly known as the textile capital of India, like Manchester in England. 

Coimbatore has become the best city to live in due to its growing industries and proximity to world-class educational institutions. Students and working professionals, in particular, prefer to live in locales with excellent amenities and reasonable prices. So, if you’re looking for the best places to live in Coimbatore, we will tell you where you can live comfortably. 

Kovaiputhur

The western Ghats surround Kovaiputur, a residential township. Because of its cool climate and peaceful beauty, it is Little Ooty. This township has numerous schools and colleges, with a residential hub for many families. This area also has many playgrounds for children and parks for recreation. It has good transportation to other parts of the city. 

It also has religious sites and easy access to banks, supermarkets, and hospitals. In a nutshell, this is one of the best places for families to live. 

Gandhipuram

Gandhipuram is the city’s commercial district and its beating heart. This area, located in the city’s center, is a popular spot for shopping and entertainment. It is also a bus transportation hub. Many IT companies and commercial shops call it home. Gandhipuram is the best place to live in Coimbatore because it is close to important landmarks. It has a garden and a play area for children for its residents. Gandhipuram is the best place to live because it is close to important landmarks. 

Saibaba Colony

Saibaba Colony is a posh residential neighborhood in Coimbatore. It has good access to nearby areas such as Gandhipuram and RS Puram. The name stems from the Saibaba Temple, located in this area. This area consists of individual and residential properties. This location has the most public and private sector banks. Furthermore, this location is well-known for its restaurants and shopping malls. This neighborhood has well-kept parks where residents and visitors can enjoy a pleasant morning or evening stroll. 

Thondamuthur

Thondamuthur is a suburb within the Coimbatore Corporation. It is one of Coimbatore’s rapidly developing urban suburbs. This area has a good number of housing complexes and properties. Thondamuthur, surrounded by natural greenery, is one of the best places for families to live. 

Renting your dream apartment in Coimbatore would be the best decision you will ever make if you want to settle in a quiet and wonderful place in the entire state. 

Ban on registering the Unapproved plots in Tamil Nadu

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The banning on the registration of plots which are still unapproved is back in Tamil Nadu with full force. The Madras Court on Friday clearly ordered to restrain all registrations of plots which are still not approved or those who apply for the re-registration with pending layout approvals. The law has been confirmed for the next three weeks and till no further notice comes.
Adding to the ban, the Justice M Sundar and the Chief Justice Indira Banerjee asked for all the details of the applicants of registration with unapproved plots in the violation of the court dated as on September 9, 2016, ban order.
The legal justice has stated that the decision for these issues will be taken after a special sitting which will be organised either on May 4 or on May 5.
The law has turned sour after the case that held on September 9, 2016, when the Chief Justice Kishan Kaul rapidly approved all the registrations of the plots which were still not approved or of those who tried to convert farmlands into housing plots without following the rules and regulations. Also, the bench held responsible all the officials who were personally liable for the violation of rules and regulations.

South Indian Real Estate Sector footprint

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What a South Mumbai is to Mumbai or a South Delhi is to Delhi could well be South Indian cities to India! The question is – will the southern region become the downtown of India?

Southern India has for long been the silent crusader, building and strengthening its real estate development as one of the most sought after destinations in the country. With improving transparency and visibility of the real estate markets in the South zone, cities such as Bangalore, Chennai and Hyderabad have attained a place on the global real estate map, a status that was limited just to Mumbai and Delhi in the past.

While South Indian cities constitute nearly 45% of the country’s office space, the stock of 140 million sq ft in these cities is projected to grow at a CAGR of 8% for the period 2012 – 2016, lower than the projected national growth of 11%. This implies that the southern cities, particularly Bangalore and Hyderabad, are relatively rationalised in terms of medium term supply of office space, and the cities have chosen a strategy of pursuing selective quality developments over rapid expansion. While this would keep their share in India’s office stock range bound at 37%-40%, the South Zone’s vacancy rate by end-2012 is expected to be 16%, considerably lower than the pan-India vacancy rate of over 20%.

While demand remains healthy for organised retail spaces, it is polarised towards either successful malls or high streets, which have better footfalls and conversion ratio. As the mall stock in the southern cities sum up to breach the 40 million sq ft mark by end-2016, the vacancy by then is expected to witness a notable decline from the peak levels of 2014 to drop below the national average of 20.5%.

South India’s residential market has been an ardent follower of the ‘affordability’ mantra, with more than 80% of the new launches in the past two years being priced under INR 4,000 per sq ft (USD1 812 per sqm). As a result, the residential markets of South Indian cities have remained resilient in the past few quarters, relative to the significant decline recorded in the sales volume of Mumbai and NCR-Delhi.

The focus of Indian real estate is shifting from Tier I to Tier II cities, and the southern region is also embracing the same, with secondary hubs developing in Kochi, Coimbatore, Vishakhapatnam and Mysore, that are persistently striving for higher milestones.

 

Property prices in Coimbatore may get hike

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The jump in land, materials and labour costs has pushed property prices up by 25%-30% per cent and slowed the growth of the real estate sector in Coimbatore in the last two years. Property developers in the city believe that if the real estate sector has to grow at pace similar to that of Chennai, which despite the global economic slowdown, registered a steady growth quarter after quarter, as per the residential price index brought out by the National Housing Bank, the government has to develop infrastructure facilities, promote industries and improve water bodies.

“There is not much space left for property developers inside the city. All construction activities are moving towards the suburbs,” said V Subramanian, president, Confederation of Real Estate Developers Association of India (CREDAI), Coimbatore. However, land prices have increased in the outskirts in the past two years. The cost of material and labour is also on the rise. This has seriously affected the middle income group, which is the major segment that invests money to buy property. Property developers have been forced to pass the cost increase burden on the people, which have slowed down the market.

“Land costs have increased four-fold in Coimbatore, which is causing major problems for developers,” Subramanian said. Cement, which was costing Rs 190 a bag a year ago, is now available for Rs 300. Steel prices have increased from Rs 38000 per tonne to Rs 60000 per tonne now. Developers are struggling to control their costs and boost sales. Omkar Sankar, director, Sankar Foundation, said there is huge demand for affordable and low-budget houses in Coimbatore. But the jump in prices of affordable houses is now becoming a cause for concern, he noted.

Flats that were sold for Rs 4500 per sq. ft. in Ramnagar area are now being sold for Rs 6500 per sq. ft. Similarly, in areas like Vilankurichi, Thondamuthur, Vadavalli, which are outside the city, costs have moved from Rs 2300 per sq. ft. to Rs 3500 and more. Though the recent lowering of interest rate by banks may bring some respite, developers are still in a wait and watch mode. The situation in Coimbatore is different from Chennai, which is well connected with infrastructure facilities even in far-off areas.

There is a huge demand for housing in Coimbatore and in the next few years there would be at least a demand for 1 lakh housing units, said P Karthikeyan, Chief Executive Officer, Trishul Shelters Private Limited. However this would require good connectivity and infrastructure development in the suburban areas, which is lacking now, he said. Besides the developers have to look at ways to keep costs down by adopting innovative methods and different technologies, he noted.

Realty Big Players Attracted Towards Small Cities for Expansion

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NEW DELHI: Growing demand for homes in smaller cities of the country is attracting real estate biggies. Cities like Bhopal, Bhubaneswar, Coimbatore, Indore, Jaipur, Lucknow , Nagpur, Surat , Vadodara and Visakhapatnam are estimated to add 354 million sq ft of residential development in the coming 03 years. According to a research, large builders like DLF , Unitech , Parsvnath , Omaxe , Ansals and Emaar MGF have already diversified into these cities. These cities today show huge potential for growth. These cities are attracting the big developers because of their considerable price stability and growth prospects. With economic activity picking up in these cities, there is a growing migration from smaller areas, which has created a shift towards an apartment culture. This shift will foster volumes for larger developers in the future.

Looking at this new demand, banks and financial institutions are also looking towards these cities to bridge the financial saturation gap.The growth prospects in the smaller cities are fascinating huge developers with multi-city existance.

Real Estate Developer to Maintain Focus on Residential Segment

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Puravankara Projects Ltd. will take a call on incoming the hospitality sector in 6-8 months and which segment to target would depend on the city and the site’s location, according to a top company official. “The company possessed properties in city centres that were suitable for hospitality projects. However, the organisation has put them on hold since its focus now was on residential projects,” said the Joint managing director, PPL.

While granting that the endless rising of the home loan interest rates may have a near-term impact on the industry, he did not expect it to discourage buyers from investing in home purchases particularly in the South. Puravankara, Joint managing Director, was speaking at a press conference to announce the upcoming project in Coimbatore.

The company was asked, are they looking to expand in other regions in the county rather than being a South-focused player? Ashish said, PPL was ‘more an opportunity-driven’ company and it moved into southern cities because of the opportunities they provided. He added that the company would like to strengthen its presence in the South first. It has a joint venture project in Kolkata and also in Colombo.

Puravankara buys sixty-two acres in Bangalore

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Provident Housing is a fully-owned subsidiary of the Bangalore-based Puravankara Group. Provident housing is learnt to have bought a 62-acre land parcel in the outskirts of Bangalore. The deal is believed to have been struck for a value of 150 crore rupees. The deal between Provident Housing and the seller, who is an individual, was signed earlier this month.

The land parcel is located on the Mysore road around half-an-hour away from the heart of Bangalore. This is said to be an outright purchase with Provident Housing, scheduled to make the payment in two tranches. In the first stage, the buyer has paid a nominal token amount at the time of signing the agreement and the balance would be paid when the project is completed.

Recently, many real estate developers have been exploring opportunities in the affordable housing sector. The Puravankara Group will have these projects in Chennai and Bangalore and is negotiating deals in Hyderabad and Coimbatore. It is learnt that deals in Hyderabad and Coimbatore will be finalized in a month.