Coimbatore’s real estate is a growing industry thanks to the developers, builders, investors, and homebuyers who are seeing the great potential of the area. Residential and commercial projects are being built in different parts of the city, and the demand for luxury villas, apartments, and many other types of homes are rising rapidly. Many factors contribute to the thriving Coimbatore real estate industry. Here are some of them.
A city’s economy is one big factor that affects the value of and the prices of its properties. If it’s sluggish, then the real estate industry will also be slow as there are fewer people who will dare to buy and invest. But if there are plenty of jobs, high employment rate, and establishments and transportations are many, then the value of homes are more likely high. This is exactly what is happening to Coimbatore real estate. Thanks to the booming economy, more people are getting attracted to move into here and experience a higher quality of living.
Accessible and beautiful location
The success of Coimbatore’s real estate can also be attributed to its strategic location. Compared to before, the city nowadays is more accessible and better connected. The construction of highways and road networks, as well as the availability of trains and airports, have made travelling more convenient. What makes Coimbatore unique from others is that its natural beauty. Here, locals enjoy the scenic views of rolling hills and peaceful environment.
Buyer-friendly government policies
Real estate experts say that the laws and policies also have a sizable impact on property demand and prices and buyers’ motivation. The recent implementation of GST and RERA Act in the country is perhaps one of the things that drive people to start buying and building homes. Today, they enjoy more affordable contract prices because GST eliminated the excise duty and subsequent taxes. Meanwhile, the RERA Act protects buyers against developers by requiring the latter to give five years of warranty in case of structural damage.