Rampant growth and development have kickstarted in Smart City Coimbatore, making real estate investors more attractive and rampant. The growth has been multifold; efforts can be seen in various parts of Coimbatore. The major ones include the expansion of the Coimbatore international airport, defence industrial park, widening of the By-pass, and the Vellalore Integrated bus stand.
All these growth projects are building blocks of accelerating an OMR-like development in the Coimbatore By-pass. This could be a golden opportunity for real estate investors, looking to invest in the future.
The expansion of Coimbatore’s International airport:
The government has allocated over INR 1,132 crores for the extension of the international airport and have planned to add 7 more aprons to the same. Aprons will be added to accommodate base planes that make overnight stops at the airport before departing again the next day. In addition, they have also drawn out a plan that will see a 12,000 feet runway of 627 acres.
Development in the defense industrial park:
Another 500-acre expansion is set to shoot in the defence industrial park. With a budget of over Rs. 225 crores, this defence corridor will open doors to new defence manufacturing facilities and clusters. The good news for real estate investors is that on completion of this project, it can attract over Rs 3,500 crores in the Coimbatore By-pass.
Vellalore Integrated bus stand:
The government is building an integrated bus station to keep up with the city’s rapid growth. The 60-acre Vellalore Integrated Bus Stand has a budget of Rs. 168 crores. On finishing the project, it will be able to accommodate 140 buses, 112 parking stations, and 18 highways from the parking area.
Future of real estate: Coimbatore’s By-pass
The Coimbatore By-pass has begun to expand, with the route widening from four lanes to eight. The By-pass, which is anticipated to become Coimbatore’s near-future real estate, is expected to attract Rs. 12 lakh/cent, indicating a strong potential for real estate investors.
The By-pass is only 10 minutes from Singanallur and the railway station, as well as 20 minutes from the airport and other regions such as Ukkadam, Peelamedu, and Avinishi road. All the above-mentioned factors are building blocks to transform Coimbatore into a real estate hub.