Rampant growth and development has started in Smart City Coimbatore, making real estate investors more attractive and rampant. The growth has been manifold; efforts can be seen in various parts of Coimbatore. The main ones include the expansion of Coimbatore International Airport, the Defense Industrial Park, the widening of the bypass and the integrated Vellalore bus station.
All of these growth projects are building blocks for accelerating OMR-type development in the Coimbatore Bypass. This could be a golden opportunity for real estate investors looking to invest in the future.
Expansion of Coimbatore International Airport:
The government has allocated over INR 1,132 crore for the expansion of the international airport and has planned to add 7 more aprons. Aprons will be added to accommodate base aircraft that make overnight stops at the airport before departing the next day. Additionally, they have also come up with a plan that will see a 12,000 foot runway across 627 acres.
Development in the defense industrial park:
Another 500-acre expansion is planned to spin up in the Defense Industrial Park. With a budget of over Rs. 225 crores, this defense corridor will open doors to new defense manufacturing facilities and clusters. The good news for property investors is that upon completion of this project, it can attract over Rs 3,500 crore in the Coimbatore Bypass.
Vellalore integrated bus station:
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 million. At the end of the project, it will be able to accommodate 140 buses, 112 parking stations and 18 highways from the parking area.
The Future of Real Estate: The Coimbatore Bypass
The Coimbatore Bypass began to expand, with the route expanding from four lanes to eight lanes. The By-pass, which is expected to become Coimbatore’s future real estate, is expected to attract Rs. 12 lakh/cent, indicating strong potential for property investors.
The By-pass is only 10 minutes from Singanallur and the railway station, as well as 20 minutes from the airport and other areas like Ukkadam, Peelamedu and Avinishi road. All the factors mentioned above are building blocks for turning Coimbatore into a real estate hub.
Article first published: Thursday, February 24, 2022, 3:40 p.m. [IST]